Definition of “offshore” - Learner’s Dictionary

offshore

adjective [ always before noun ] uk us /ˌɒfˈʃɔːr/
SEA

in the sea and away from the coast:

an offshore island
FINANCE

An offshore bank or bank account is based in another country and so less tax has to be paid:

an offshore account/trust

(Definition of “offshore” from the Cambridge Learner's Dictionary © Cambridge University Press)