How do transfers between Bermudian holding companies and their foreign subsidiaries work?
Overseas insurers may wish to quota share a proportion of their business to a Bermudian group member. Although this may provide some tax advantages in a profitable year, once again, any losses cannot be laid off against tax. Moreover, the ceding commission will be taxable where the business is sourced. – Caroline Foulger is a partner with PricewaterhouseCoopers in Bermuda.
Related Questions
- Is the CIP rule applicable to bank holding companies and their non-bank subsidiaries, or to savings and loan holding companies and their non-savings association subsidiaries?
- Can subsidiaries incorporated in Hong Kong by foreign companies be entitled to the treatment contained in "CEPA" in order to enter mainland markets?
- How do transfers between Bermudian holding companies and their foreign subsidiaries work?
