offshore
adjective [ before noun ]
uk/ˌɒfˈʃɔːr/ us FINANCE
used to describe companies or investments that are based in a country that is not the home country and that has lower tax, weaker laws, etc.:
an offshore bank/company/investment
ECONOMICS, HR, WORKPLACE
used to describe the business activities of a company that happen in a different country to the one where the company is based, where costs may be lower:
The subject of offshore jobs is one of the most politically charged this year.
PRODUCTION, NATURAL RESOURCES
connected to the production of oil and gas at a distance from the land or under the sea:
offshore reserves of oil
Drilling offshore oil is still profitable.
offshore
adverb
The company had no alternative but to move offshore .
Compare
onshore
offshore
verb [ T ]
uk/ˌɒfˈʃɔːr/ us ECONOMICS, HR, WORKPLACE
to have work done in another country, often because costs are lower there:
Product design is relatively difficult to offshore.