Bahamas
- Year captive legislation was passed
- Sign in to see more data
- Types of captives allowed
-
- Single parent captives
- Association captives
- Group captives
- Protected cell/segregated portfolio companies
- Microcaptives set up using 831(b) regulations*
- Number of full-time employees in captive regulatory department
- 6
-
Initial licensing and incorporating fees required by the domicile
?tooltip content
- Sign in to see more data
- Annual fees
- Sign in to see more data
- Premium tax rate
- Sign in to see more data
- Minimum capital (broken out by type of captive)
-
General Insurance Business: B$100,000
Long term insurance Business: B$200,000
- Applicable Acts/Enabling Legislation
- Insurance Act & Regulations: Insurance Act Chapter 347, Insurance(General) Regulations 2010; External Insurance Act & Regulations: External Insurance Act Chapter 348, External Insurance (Judicial Management) Regulations, 2009, External Insurance (Variable Insurance Business) Regulations, 2010, External Insurance (Forms & Fees) Regulations, 2010, External Insurance (Classes of Insurance Business) Regulations, 2010, External Insurance (Capital Requirements for External Insurers, Insurance Managers, External Insurance Brokers) Regulations, 2010.
- Captive Administrator’s name and longevity in position
- Sign in to see more data
- Speed of licensing
- 30 - 60 days
- Regulator
- Sign in to see more data
- Address and contact information of Regulatory Department
- Sign in to see more data
- Website Address
- https://www.icb.gov.bs