Texas
[Last updated: 25/01/23]
Regulatory contact:
Amy Garcia, Associate Commissioner
1601 Congress Avenue
Austin, TX 78701
Telephone Number
(512)676-6446
Email Address
amy.garcia@tdi.texas.gov
Website http://www.tdi.texas.gov/licensing/company/captives.html
Year Legislation Passed
2013
Recent Amendments
N/A
Do you allow Cell Captives?
No
Total Number of Licenced Captives
72 Pure Captives
Number of Risk Retention Groups or Group Captives
0
Number of Single Parent Captives
72
Number of Cell Captives
0
Number of licences granted in the past year (2022 calendar year)
8
Approximate (or Average) length of time to process a new captive
60-90 days for new formations upon receipt of a complete filing.
Captive tax rates (include descriptions if needed)
http://comptroller.texas.gov/taxinfo/taxpubs/tx94_130.pdf - Maintenance tax information.
0.5% premium tax rate
Minimum capitalisation rate
Minimum of $250k NOT including working capital.
Licencing fees
$1,500 application fee
Industry sectors best represented in the domicile
Various
Top uses for Captives in domicile
Various
Total premiums received by the Captives
$10.4 bn as of 12/31/2021
Total value of assets under management
$20.3 bn as of 12/31/2021