In 2003, Utah became the 18th State with captive enabling legislation. In today’s world the captive’s domicile location should be carefully selected. The usual standards for selecting a Captive domicile have been:

• Local domicile regulatory requirements;
  
• Tax considerations and regulations;
  
• Banking and investment support;
  
• Professional services located in the domicile state and/or country;
  
• Tax Regulation
  
• Domicile regulatory personnel;
  
• Political stability, ease of travel, communication capabilities, currency stability, and the overall reputation of the domicile.

However, now the consideration list should also include the political concern with the business owner’s perceived used of offshore domiciles – are they really running a legitimate business? The current administration has not looked as favorably on offshore companies, even when formed for legitimate business reasons.
The Utah Insurance Department, the UCIA – represented by insurance industry experts and licensed business entities and the Utah Department of Community & Economic Development/Utah Technology Alliance, have combined to make Utah a domicile location equals or exceeds the capabilities of other countries or states in ways the Captive owner may least expect. Not too large like some and not too small to provide significant important value.