Overview
Nevada established its captive legislation in 1999 and has quickly grown to become a leading onshore US captive domicile. At the end of 2010, Nevada had 125 active captives.
Minimum Capital and Surplus
| Single parent captive | $100,000 |
| Group/Association captive | $500,000 |
| Agency captive | $300,000 |
| Sponsored captive | $500,000 |
Key Features of Legislation
Like most domestic domiciles, Nevada’s legislation is modeled after Vermont, but with some key differences. These include:
- The acceptance of agency captives in the state. Agency captives are typically limited to offshore domiciles.
- Cap on premium tax at $175,000. This is at the lower end of the cap imposed by other domiciles.
Specialty
Nevada has a spread of captives by both type and industry. The domicile has been attractive for real estate and construction captives which account for over 25% of active captives in the state. Nevada has a business friendly tax structure and is a leading business destination.
SRS Presence
SRS was approved as a captive manager in Nevada in 2007. We oversee the management of captives in the domicile from our western region headquarters under the direction of Ann Wick. Ann sits on the Nevada Division of Insurance’s Advisory Committee of Captive Insurers.