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