Anguilla Captive Insurance Domicile

Why Anguilla Captive Insurance Domicile?Anguilla Flag - Anguilla Captive Insurance Domicile
A successful captive insurance domicile has distinguishable traits from less established jurisdictions.

In fact, owners of closely-held businesses prefer domiciles offering reasonable capitalization requirements, less restrictive on-site meeting requirements, sensible regulations, and insurance-specific expertise.

In these respects, Anguilla fits the bill and compares favorably with other captive insurance domiciles such as the Cayman Islands, Bermuda, the British Virgin Islands, South Carolina, Hawaii, Montana, Arizona, Utah,  Vermont and Delaware.

Why Form an Anguilla Captive Insurance Company?

Anguilla captive insurance companies have proven to be highly successful in covering the risks of their associated operating companies, adhering to regulatory standards.

In 2009, the island took action to improve its Anti-Money Laundering and Terrorist Financing Code. In 2013, following the recent meeting of the G8 Summit, the government of Anguilla published its action plan outlining its commitment enhancing transparency on beneficial ownership of companies and working with the international community to fight the scourge of tax evasion and money laundering.

Anguilla’s action plan upholds international standards against money laundering, the financing of terrorism and proliferation, tax evasion, corruption and related criminal activity.

Anguilla is committed to having public consultation on the issue of corporate transparency with a focus on bearer shares and the ability of competent authorities to access information on beneficial ownership, including whether this information should be available in a central registry and whether this information should be publicly available.

The island territory’s chief minister, Hubert Hughes said, “The action demonstrates the government’s determination to effectively match the growth of Anguilla’s financial services with robust and progressive laws that meet international regulatory standards as well as strengthening the island’s anti-money laundering efforts. To this end, we welcome the opportunity to burnish our reputation as a well regulated jurisdiction.” (Source: Caribbean News Now)

The Caribbean Financial Action Task Force (CFATF) has deemed Anguilla as fully compliant with regard to transparency and beneficial ownership.

Capstone’s commitment to upholding regulatory standards in the formation of captives is mirrored in the Anguilla captive insurance domicile. Its growth over the last few years is undeniable and has become the domicile of choice for many mid-market captive insurance companies.

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