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'Offshore' has three principal meanings:
# 'Physical' - in the sea away from the shore; not on the shoreline but out to sea.
# 'Offshore Industry' - Industry related to equipment for offshore oil and gas
# 'Financial' - a relative term generally applied to ''low tax jurisdictions'' on "off-shore" islands - hence the association with the physical meaning. Many of these islands encourage the formation of letterbox companies, which are used to conceal the beneficiary owner for various purposes (hiding and laundering narcodollars or the proceeds from other illicit activities, parking funds in rapidly depreciating currencies, hiding assets in divorce proceedings etc.)
Note: Not all ''offshore'' financial centres are in a geographical respect offshore as the term would suggest, e.g. Dublin, Delaware (USA), Panama or Switzerland.
Further details can be found here:

★ Offshoring - relates to the active movement of companies to offshore centres.

★ Offshore Financial Centres - relates to jurisdictions which transact financial business with non-residents.

★ Offshore banking - relates to the banking industry in offshore centres.

★ Offshore construction - relates to construction out to sea.

★ Offshore investment - relates to the wider financial services industry in offshore centres.

★ Offshore funds - specifically relates to collective investment in offshore centres.

★ Offshore trusts - deals with trust arranged in offshore jurisdictions.

★ Tax havens - gives details of many low tax jurisdictions.