An onshore captive is a special purpose insurance company domiciled in the country within which its...
offshore captive
An offshore captive is a special purpose insurance company domiciled outside the country where the insured risk is located.
Additional Information
The motives for using an offshore captive may include tax planning. Regulatory differences between onshore and offshore have become significantly less as the offshore captive industry has matured. Offshore domiciles popularly used for North American source business include Barbados, Bermuda, British Virgin Islands, and Grand Caymans. Offshore domiciles for European source business include Dublin, Guernsey, Isle of Man, and Luxembourg. Asian source business may use Hong Kong, etc.
Summary
Related Terms
