One Of A Kind - What Makes Bermuda An Attractive Location For Captives

Bermuda's reputation as a captive domicile is well-known and respected, having been involved in the industry for over 50 years. The reasons why the island makes for such a successful and attractive jurisdiction are endless. Captive Review caught up with Tim Faries to find out why and how Bermuda has become such a success.

Captive Review (CR): How have recent regulations affected managers' decisions to domicile in Bermuda?

Tim Faries (TF): There are two recent regulatory developments globally that we think will make Bermuda a more attractive domicile for captive owners. First, in January 2014, Bermuda became the first offshore jurisdiction to be granted 'conditional qualified jurisdiction' status by the National Association of Insurance Commissioners (NAIC). The second is the recent tax blacklist promulgated by Colombia which included a number of Bermuda's competitive jurisdictions, but not Bermuda itself. This is a very favourable development which we expect