Offshore finance refers to financial services provided by institutions located outside a person's or company's home country. This often includes banking, investment, and insurance services that can offer tax advantages, privacy, and regulatory benefits. Many individuals and businesses use offshore accounts to manage assets, protect wealth, or reduce tax liabilities. Countries known for offshore finance, such as Cayman Islands, Switzerland, and Singapore, have established favorable laws and regulations to attract foreign investors. Offshore finance can also involve the creation of shell companies or trusts, which can help in asset protection and estate planning while maintaining confidentiality.