The word ‘offshore’ can be used in two different meanings. First, it can mean ‘a tax haven’ or a ‘zero-tax jurisdiction’. Second, it can mean ‘a foreign country’. If you reside in Poland, for example, your foreign company can be referred to as an offshore company whether it is registered in the British Virgin Islands or in Switzerland when the word ‘offshore’ is used in the second sense. The same goes for the bank account that can be referred to as ‘a foreign bank account’ or, alternatively, ‘an offshore bank account’.