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Bermuda introduced the Segregated Accounts Companies (SAC) Act 2000 as its equivalent of the protected cell company concept. Bermuda is the world's premier captive insurance jurisdiction and the SAC structure is widely used to provide statutory segregation between captive insurance cells and cells holding other investment or business assets. The Bermuda Monetary Authority (BMA) provides robust and internationally respected regulation of SAC structures.
BMA Regulatory Excellence
The BMA is widely considered one of the world's most sophisticated insurance regulators and is Solvency II equivalent, providing Bermuda based SACs with market access to Europe and other regulated markets.
Captive Insurance Leadership
Bermuda is home to more than 700 captive insurance companies and is the global leader in captive insurance. The SAC provides an efficient platform for group captive and association captive programmes.
Zero Corporation Tax
Bermuda imposes no corporation tax, capital gains tax, withholding tax on dividends or interest, or stamp duty on company transactions, providing a highly tax neutral environment for SAC structures.
Statutory Liability Segregation
The SAC Act provides clear statutory segregation of assets and liabilities between segregated accounts. General creditors of the SAC or creditors of one account cannot access the assets of other accounts, providing comprehensive protection.
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