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From The Collaborative International Dictionary of English v.0.48:
Offshore \Off"shore"\, a. 1. From the shore; as, an offshore wind; an offshore signal. [1913 Webster] 2. Located in the waters near the shore; as, offshore drilling. [PJC] 3. Operating or located in a foreign country; as, an offshore bank account; offshore mutual funds. [PJC] offside