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OFFSHORE HAVEN Definition & Legal Meaning

Definition & Citations:

A country or area that has few restrictions on businesses located there and negligible income tax, which is different from an individual’s home country. Offshore havens provide various services such as international banking and privacy of deposits and earnings to attract foreign nationals. In that context, every country can be considered a tax haven for foreign nationals. Offering such incentives is a sure way of attracting foreign capital.


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