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Onshore (USA)
Michigan
Michigan licenses a wide range of captives, including non-profit pure and special purpose financial captives. It maintains a strict resident requirement where two out of three organizers must be state residents, and board meetings must be held in-state. Notably, the state does not have a premium tax rate, using a renewal fee based on premium volume instead.
Quick Facts
Jurisdiction
Onshore (USA)
Legislation
Michigan DILS framework
Tax Environment
No tax rate; premium-volume based renewal fee
Financial Requirements
Minimum Capital & Surplus
| Structure Type | Minimum Capital |
|---|---|
| Pure | $150,000 |
| Sponsored / Association (Mutual) | $500,000 - $750,000 |
| Special Purpose Financial | $250,000 |
info
Regulatory Framework
Michigan DILS framework
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Tax Environment
No tax rate; premium-volume based renewal fee
Detailed Profile
Regulatory & Statistical Profile
analytics
Statistical profile pending verification for this domicile.
checklist Authorized Captive Structures
List of authorized captive structures pending verification.
payments Fees & Solvency Compliance
Year Legislation Passed
Pending verification
Licensing Speed
Pending verification
Premium Tax Rate
Pending verification
Incorporation / Initial Fee
Pending verification
Annual Maintenance Fee
Pending verification
Annual Filing Requirements
Pending verification
gavel Regulatory Contact Office
Supervisory Authority
Pending verification
Office Address
Pending verification
Regulatory Department Staff
Pending verification
Captive Administrator
Pending verification
Considering Michigan for Your Captive?
Our consultants provide end-to-end guidance on domicile selection, feasibility, and formation. Let us help you determine if Michigan is the right fit.