Depending on your goals, a captive can provide tax benefits, wealth transfer and asset protection.
Historically, captive insurance companies have formed in offshore jurisdictions, such as Bermuda, Nevis, Anguilla, Cayman Islands, and Barbados. Recently, however, U.S. jurisdictions have become major players in the captive marketplace, and are now experiencing significant growth.
A captive can be structured in many different ways. Additionally, ownership of a captive can be held by a Principal, the Principal’s business, or in trust for the Principal’s family.
The formation and configuration phases are critical to guarantee results that are important to you are achieved.