The paper analyses the nature and extent of the offshore world, a grey area that is playing a major role in present-day economy. The main institutions moulding this peculiar environment are discussed: preferential tax regimes, tax havens and offshore financial centres. After outlining their role in the globalised world we present a tentative reconstruction of its geographical organization. Finally, there is a synthesis of the international reactions to the harms developed in the offshore world before and after the collapse of financial markets in 2007-2008.
