THE IMPACT OF GLOBALISATION ON INTERNATIONAL OFFSHORE BUSINESS

Abstract

The article examines the impact of globalisation on the development of international offshore business. The main trends and challenges arising from the integration of global economies, as well as from the strengthening of international financial transparency initiatives, such as the automatic exchange of tax information and the implementation of BEPS standards, are considered. The author analyses how globalisation is contributing to the expansion of the range of services offered by offshore zones, but at the same time reducing their attractiveness due to increased regulatory pressure. Particular attention is paid to the adaptation of offshore business to the new conditions arising in the context of global changes. It is determined that globalisation facilitates the integration of national economies into the world market, which allows businesses to freely move capital between countries. In this context, offshore zones have become important hubs for the accumulation and distribution of financial resources. Companies from all over the world use offshore jurisdictions to optimise taxes, protect assets and manage risks. Thus, the impact of globalization on international offshore business is multifaceted. On the one hand, it creates new opportunities for business development, integration into the global economy, and access to financial resources. On the other hand, globalization necessitates increased transparency, improved regulation, and adaptation to evolving international standards. In this context, offshore business continues to play a significant role in the global economy, but its further development depends on its ability to adapt to the changes and challenges of the modern world. Globalization also impacts the changing structure of international offshore business. While offshore zones were previously used primarily for reducing tax burdens, today they have become important platforms for conducting business in the digital economy. Offshore companies are actively involved in managing intellectual property, technology startups, cryptocurrency assets, and more. This opens up new opportunities for the development of offshore business, but at the same time, it requires adaptation to new conditions and changes in regulation.