The Samoa offshore insurance legislation provides an attractive but supervised environment for the establishment and operation of international insurance activities including captive insurance and reinsurance companies.
The International Insurance Act 1988 controls the registration of offshore insurance companies. Offshore insurance business is defined as any insurance business where each of the insured, the policy beneficiary and the owner of the policy are not domiciled nor ordinarily resident in Samoa. Only an international company or a foreign company registered under the International Companies Act 1987 may be authorised to carry on offshore insurance business. A registered insurer is not permitted to transact any insurance business other than offshore insurance business. An insurer registered under the International Insurance Act 1988 is exempt from any form of taxation and duty or exchange control in Samoa.
