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ARTICLE · 22 MAY 1996

The Development Of European Captive Domiciles

Willis Corroon
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United KingdomEnvironment
by Jenny Hill Executive Director ARMS at Willis Corroon

The eighties and early nineties saw the establishment and development of the major captive movement in Europe. Home for these captives was almost exclusively Guernsey, Luxembourg and the Isle of Man.

Luxembourg developed on the back of an active captive market in Sweden and it is no surprise that the other two successful domiciles are situated close to the UK mainland. By far the greatest number of captives in Europe are set up by UK parents. At the last count there were 115 in the Isle of Man and 251 in Guernsey, representing around 45% of all European domiciled captives.

The last few years have seen two developments. One is the emergence of new domiciles - Dublin, Gibraltar, Malta, Jersey, Madeira, Switzerland and Cyprus. They obviously think that this is an attractive and growing area to be in, but are they justified? Is the growth a reality and will new owners go to the new domiciles or will they follow the herd?

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