Why Offshore Insurance?
Offshore insurance offers a range of compelling advantages, particularly for high-net-worth individuals seeking sophisticated financial solutions.
These benefits, facilitated by jurisdictions like Barbados, include tax efficiency, asset protection, customized policy options, wealth transfer optimization, and access to stable regulatory environments.
Establishing an offshore insurance company in a reputable jurisdiction like Barbados involves a well-defined regulatory process overseen by the FSC, ensuring compliance and security. Stasis Insurance leverages the advantages of its Barbados domicile to offer sophisticated insurance solutions designed to meet the unique wealth management and asset protection needs of high-net-worth individuals. Through partnerships with leading custodians and managers, clients benefit from world-class expertise, secure custody arrangements, and seamless access to international markets.
While offshore insurance offers significant benefits, Stasis Insurance strongly recommends that any potential clients consult financial and tax advisors to navigate regulatory complexities and ensure compliance with their home country’s applicable laws and regulations.
Why Barbados?
A premium offshore insurance Jurisdiction
Stasis Insurance is proud to be a Class 2 licensed insurer domiciled in Barbados, a jurisdiction renowned for its robust regulatory environment and its standing as a leading international insurance hub.
All activities are supervised under the Financial Services Commission Act, 2010-21 (as amended) and the Insurance Act, Cap. 310 (as amended), under the oversight of the Insurance Division of the Barbados Financial Services Commission (“FSC”), which provides stringent oversight, ensuring the highest standards of operation within the insurance industry. Their proactive approach to regulation includes continuous enhancement of their personnel's expertise and a focus on emerging global risks.
With a long history in the insurance business dating back to the 1840s, Barbados offers a stable and experienced environment. Today, Barbados ranks as one of the largest offshore insurance domiciles globally, with its insurance companies managing over $174 billion in assets, underscoring the trust and confidence placed in Barbados by international insurance companies and their clients.
The jurisdiction boasts a stable economy and political landscape, a well-developed legal system based on English common law, and adherence to international best practice standards. Barbados offers a favorable tax regime for offshore companies and no capital gains, estate, or inheritance tax, making it an attractive choice for high-net-worth individuals seeking to optimize their wealth management strategies.
Barbados' regulatory environment is continuously evolving. Stasis Insurance stays abreast of these to ensure compliance and provide the best possible service to our clients.
