CICA > Domiciles > Federated States of Micronesia

Federated States of Micronesia

 
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Total number of captives as of year-end 2022
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Types of captives allowed
  • Single parent captives
  • Group captives
  • Protected cell/segregated portfolio companies
Number of full-time employees in captive regulatory department
3
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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Premiums to surplus
1.3 to 1
Minimum capital (broken out by type of captive)

Pure (with or without third party risk): $100,000
Multiple Corporate Captive (modified PCC): $1,000,000 core & $100,000 cell

Applicable Acts/Enabling Legislation
FSM Insurance Act of 2006; Title 37 Code of Federated States of Micronesia
Captive Administrator’s name and longevity in position
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Speed of licensing
30 days
Regulator
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Address and contact information of Regulatory Department
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Website Address
https://www.fsminsuranceboard.com