offshore
/ˌɔfˈʃɔr/
verb
- To move business operations or jobs to another country, usually to lower costs.
- The government is worried that more firms will offshore their work.
- The factory decided to offshore its production to China.
- Many companies offshore their customer service call centers to India.
adjective
- Located or happening in the sea, away from the coast.
- Many countries have offshore oil drilling platforms in the ocean.
- The fishermen headed to the offshore waters to catch tuna.
- The company built an offshore wind farm to generate clean energy.
- Relating to business or financial activities that are based in another country, often to take advantage of lower taxes or less strict rules.
- He opened an offshore bank account to manage his international investments.
- Offshore banking can be legal, but it is sometimes used to hide money.
- The corporation moved its headquarters to an offshore tax haven.
Antonyms
adverb
- Away from the shore; out at sea.
- The wind was blowing offshore, making it easy to sail away from the coast.
- They sailed offshore to find calmer waters.
- The rescue boat headed offshore to reach the sinking ship.
- In a foreign country, especially for business or financial reasons.
- The company moved its manufacturing operations offshore to reduce costs.
- Many tech firms hire software developers offshore to save money.
- He invested his savings offshore to protect them from local taxes.