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English definition of “onshore”

onshore

adjective
 
 
/ˌɒnˈʃɔːr/
FINANCE, TAX used to describe companies and banks that are based in a country where they pay normal rates of tax, or to describe the services of these companies or banks : The strict regulations imposed by onshore banks make tax evasion difficult.onshore account/banking/funds The award-winning fund manager offers a range of 35 onshore funds.
NATURAL RESOURCES, PRODUCTION on land rather than in the sea: an onshore windfarm/oil field The energy supplier has invested heavily in developing onshore windfarms. onshore exploration/drilling/production Other major oil groups do not have onshore production in the country. → Compare offshore
(Definition of onshore adjective from the Cambridge Business English Dictionary © Cambridge University Press)
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