District of Columbia

SRS Contact:

Melissa Hancock
Regional Manager

Tel: 202 629 2724

Team Members:

Melissa Hancock

Patrick Theriault

Announcements:

Melissa Hancock joins SRS to lead D.C and Delaware expansion

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Overview

The District of Columbia (DC) established its captive legislation in 2000 with a re-write in 2004. The domicile rapidly established itself as a leading onshore captive domicile. At the end of 2014, DC had 191 active captives.

Minimum Capital and Surplus

Single parent captive $250,000
Association captive – stock $400,000
Association captive – mutual $600,000
Agency or rental captive $400,000
Protected cell captive case by case

Key Features of Legislation

Like most domestic domiciles, DC’s legislation is modeled after Vermont, but with some key differences. These include:

  • A best practice provision providing flexibility to approve any captive structure which would be approved in another captive domicile.
  • Incorporated cell legislation: DC was one of the first domiciles to pass legislation for individual cells to be structured as separate corporations. This structure has been copied by other captive domiciles, but DC remains a leading domicile for incorporated cells.

Specialty

DC has targeted group and association captives given the number of industry associations present in the District. As a result a large percentage of DC’s captives are Risk Retention Groups or other group or association captives.

SRS Presence

SRS has been an approved captive manager in DC since 2004 and has had a physical presence in the domicile since 2011.