Offshore Financial Centers (OFCs) are jurisdictions that offer financial services to non-residents, often with low or no taxes. These centers attract businesses and individuals seeking to minimize their tax liabilities and protect their assets. Common features include banking, investment, and insurance services, along with regulatory environments that are more favorable than those in the clients' home countries. Many OFCs, such as Cayman Islands, Bermuda, and Luxembourg, have developed reputations for confidentiality and privacy. While they can provide legitimate financial benefits, they are also scrutinized for potential misuse in tax evasion and money laundering, leading to ongoing international regulatory discussions.