The laws of the Cayman Islands are not designed for the benefit of the 50,000-odd population of the Cayman Islands. They are designed for people who live in the United States, Europe, Africa, Asia, and so on. Hence the term ‘elsewhere’, or ‘offshore’, is fundamental to what a tax haven is. Essentially, then, tax havens are about wealthy individuals and corporations taking their money elsewhere to do things that they wouldn’t be allowed to do at home. 

The Men Who Stole the World:  The New Left Project on Tax Havens.