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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
Financial Requirements
Minimum Capital & Surplus
| Structure Type | Minimum Capital |
|---|---|
| Pure, Association, & Sophisticated | CAD 300,000 |
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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
Detailed Profile
Regulatory & Statistical Profile
bar_chart Captive Market Volume
Reporting Year
2025
Total Active Captives
20
New Captives Licensed
1
Surrendered Licenses
0
pie_chart Structure Distribution
Pure / Single Parent
17
Group / Association
3
Sponsored / Cell Captives
0
Individual Segregated Cells
Pending verification
Other Allowed Types
0
checklist Authorized Captive Structures
Single parent captivesAssociation captives
payments Fees & Solvency Compliance
Year Legislation Passed
1996
Licensing Speed
90 days or less
Premium Tax Rate
Premium taxes are set according to the province where the insured risk is located. Corporate tax rates: federal 15%, provincial 11%; premium tax rates: variable
Incorporation / Initial Fee
CAD 3,000
Annual Maintenance Fee
CAD 2,500
Annual Filing Requirements
Meeting required in domicile.
gavel Regulatory Contact Office
Office Address
555 W. Hastings St., Suite 2800, Vancouver, BC V6B 4N6
Regulatory Department Staff
11 FTEs
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.