With all of the hype in the news concerning the use of an offshore bank account does not mean that they are used for tax evasion.  Many companies as well as individuals use such accounts in order to conduct business on an international level as well as to hold funds or savings in multiple currencies.  One of the interesting uses for an offshore account is the holding of currencies which are not available in certain countries.  For example, there is a large Greek community in the US who prefer to save in Euros for travel as well as future retirement.  By using an offshore account, individuals from countries in which use a currency other than the US Dollar or a currency which is stronger than the US Dollar can have accessibility to such currencies.  Others use offshore bank accounts in order to receive payments in currencies not readily available in their country of operation.  Many individuals who have turned to the internet in order to establish a business online often turn to offshore bank accounts as well as offshore company incorporation in order to officially conduct their business.  This opens the door to the potential to offer services on a worldwide basis as well as in multiple currencies.  Offshore Companies can also conduct certain business activities that are often times required to have special licenses or permits onshore in turn reducing costs and overhead involved with obtaining special permits.  So, as we can see; an offshore bank account is not a tool used for tax evasion.  It is a tool used to access banking services on an international level.