Key Captive Formation Steps

  • Retain consultant
  • Have Feasibility Study performed
  • Develop Business Plan
  • Meet with regulatory representative
  • Appoint officers and directors
  • Reserve name of captive
  • Select service providers, e.g. legal, actuarial, auditor (CPA), bank, claims, risk management
  • Draft organizational documents, e.g. articles of incorporation and bylaws
  • Hold organizational meeting
  • Finalize and submit Captive Application to selected domicile
  • Certificate of Authority issued
  • Establish bank account and capitalize captive
  • Commence writing business