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Onshore (USA)
Michigan
Michigan licenses a wide range of captives, including non-profit pure and special purpose financial captives. It maintains a strict resident requirement where two out of three organizers must be state residents, and board meetings must be held in-state. Notably, the state does not have a premium tax rate, using a renewal fee based on premium volume instead.
Quick Facts
Jurisdiction
Onshore (USA)
Legislation
Michigan DILS framework
Tax Environment
No tax rate; premium-volume based renewal fee
Financial Requirements
Minimum Capital & Surplus
| Structure Type | Minimum Capital |
|---|---|
| Pure | $150,000 |
| Sponsored / Association (Mutual) | $500,000 - $750,000 |
| Special Purpose Financial | $250,000 |
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Regulatory Framework
Michigan DILS framework
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Tax Environment
No tax rate; premium-volume based renewal fee
Considering Michigan for Your Captive?
Our consultants provide end-to-end guidance on domicile selection, feasibility, and formation. Let us help you determine if Michigan is the right fit.