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Onshore (Canada)
British Columbia
British Columbia is the only Canadian province with dedicated captive legislation, the Insurance (Captive Company) Act. It permits pure, association, and sophisticated insured captives, the latter requiring aggregate annual premiums of at least 500,000 CAD. While subject to federal and provincial income taxes, captives can write nearly all insurance classes with few restrictions.
Quick Facts
Jurisdiction
Onshore (Canada)
Legislation
Insurance (Captive Company) Act (ICCA)
Tax Environment
Premium taxes set by the province where risk is located
Contact
BC Financial Services Authority
Financial Requirements
Minimum Capital & Surplus
| Structure Type | Minimum Capital |
|---|---|
| Minimum Capital and Reserve | 300,000 CAD |
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Regulatory Framework
Insurance (Captive Company) Act (ICCA)
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Tax Environment
Premium taxes set by the province where risk is located
Considering British Columbia for Your Captive?
Our consultants provide end-to-end guidance on domicile selection, feasibility, and formation. Let us help you determine if British Columbia is the right fit.