An offshore financial centre (or OFC), although not precisely defined, is usually a low-
tax, lightly
regulated jurisdiction which specialises in providing the corporate and commercial infrastructure to facilitate the use of that jurisdiction for the formation of
offshore companies and for the investment of offshore funds. Offshore financial centres are often (but not always) current or former British
Colonies or
Crown Dependencies, and often refer to themselves as offshore jurisdictions. The term offshore financial centre is a
neologism coined in the 1980s. The term is fluid to a certain extent, and it has been remarked more than once that whether a financial centre is characterised as "offshore" is really a question of degree.
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A country or jurisdiction where an intentional attempt has been made to attract foreign business by deliberate government policy such as the enactment of secrecy laws and tax incentives.
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