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If you are looking for offshore tax exempt insurance services, we are experts in the field and are ready to walk you through the process. We are official registered offshore agents of the government of the Commonwealth of Dominica. Contact Us if you have any questions or concerns, or if you are ready to set up your offshore tax exempt insurancecompany or if you are looking for information on captive insurance benefits.

The Act applies to captive insurance companies whose risks and premiums originate outside the Commonwealth of Dominica and on whose liquidation monies payable to shareholders are payable to or for the benefit of persons resident outside the Commonwealth of Dominica. The granting of a tax exempt captive insurance license is within the discretion of the Minister of Finance. who may attach conditions to the issue of the offshore licence relating to the real property investments and holdings of a licensee

• A meeting with the minister of Finance and Economic Planning and the Registrar of Insurance to determine the possibility of the License being granted and to obtain the consent of the Minister to incorporate.
• Incorporation of a Company under the Companies Act of 1994.
• Submit application to the Registrar of Insurance. The application must be signed by at least two(2) directors and must state the classes of Exempt Insurance business that the applicant intends to engage in.
• Every application for a License to carry on Exempt Insurance business shall contain the information specified in the forms provided in the package.

 

Application package should include the following: -

 

• Certificate of Incorporation under the Companies Act of 1994 a company limited by shares or as a mutual insurance company.
• Evidence that its objects and activities are the transactions of exempt insurance business and are in keeping with the classes of Exempt Insurance Business stated.
• Evidence that at least one director is a Citizen of Dominica resident in Dominica
• Registrar Consent signed by him to as a director).
• Certified copy of the Articles of Incorporation. v.Copy of receipt from Accountant General for payment processing fee US$500.00.
• Evidence of availability of minimum paid-up capital of US$100,000.00 in cash or readily negotiated instruments.
• Complete Disclosure Form for each shareholder, director and senior officer, and follow prescribed due diligence guidelines for the offshore sector.
• Evidence of appointment of a resident representative.

For more information about exempt insurance offshore, please do not hesitate to contact us.