Bahamas

 
Year captive legislation was passed
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Types of captives allowed
  • Single parent captives
  • Association captives
  • Group captives
  • Protected cell/segregated portfolio companies
Number of full-time employees in captive regulatory department
6
Initial licensing and incorporating fees required by the domicile

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Annual fees
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Premium tax rate
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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
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Speed of licensing
30 - 60 days
Regulator
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Address and contact information of Regulatory Department
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Website Address
https://www.icb.gov.bs