In 2003 UTAH became the 18th State with a modern-day Captive Law. In today’s world the Captive’s domicile location should be carefully selected. The usual standards for selecting a Captive domicile have been:
Local Domicile regulatory requirements;
TAX Considerations;
Banking and Investment support;
Professional Services located in the Domicile state;
TAX Regulation
Domicile regulatory personnel;
Political stability, ease of travel, communication capabilities, currency stability, and the overall reputation of the domicile.
The Utah
Insurance Department, the New Utah Captive Association – represented by
Insurance Industry experts and licensed business entities, and the Utah
Department of Community & Economic Development/Utah Technology Alliance, agree
that Utah will equal or exceed the capabilities of other states in ways the
Captive owner may least expect. Not too large like some and not too small to
provide significant important value.
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