Once you decide to set up a captive, one of the key decisions is choosing the best location. With domiciles located across the world, and new ones springing up in response to the increasing popularity of captive vehicles, there is a wide choice.
A Willis Domicile Review, based on the collective knowledge and expertise of our captive specialists worldwide, can help you choose the location that is right for your business.
Issues that a Willis Domicile Review will consider include:
Regulation
Domicile regulations should be acceptable to the parent company, insurers and reinsurers, as well as to the governing bodies of the parent companies. How accessible is the regulator?
Fiscal Framework
Points that need to be considered include: whether the domicile offers a tax system which enables the captive to be aligned with your overall group tax strategy; and how does the parent company’s tax authorities view each domicile (for example are there any Controlled Foreign Company issues)?
Investment, Capital and Profits
Which domiciles have policies on capital requirements, fund transfers and investments that best complement your overall strategy?
Services and Costs
Whether there is an appropriate infrastructure of professional service providers, to support your captive. Also will you be able to find staff and board members of sufficient calibre; and how do set-up and running costs compare?
Environment
For the long term viability of the captive, the domicile needs to be politically and economically stable, with good communications infrastructure. Access and logistics are also important.
After completing the Domicile Review you will be able to decide on the best possible location for your captive and, wherever you choose, Willis will be on hand to provide a professional and cost effective captive management service.