An offshore captive is a special purpose insurance company domiciled outside the country where the...
A passive foreign investment company (PFIC) is an offshore company whose income is more than 50 percent passive investment income or 75 percent of whose assets produce such passive investment income.
If an offshore captive is deemed a PFIC, the tax burden on its owners will increase substantially.
An offshore captive is a special purpose insurance company domiciled outside the country where the...