A domestic alternative to off-shore formations
The Tribal Domicile is the first viable, economically-feasible domestic alternative to traditional offshore domiciles for reinsurers owned by vehicle dealers, agents, and other specialized producers, such as rent-to-own stores. We refer them as ARCs (allied reinsurance companies).
By bringing these programs back within the borders of the U.S., The Tribal Domicile has eliminated the need for a §953(d) election and addressed many challenges, including attempting to open a U.S. bank account that is owned by a foreign entity.
In 2012 the Delaware Tribe of Indians (the Tribe) decided to become an insurance domicile and performed the initial investigations to make it happen. The Tribe created a government unit, Delaware Tribal Financial Services, and charged it with creating a limited and specialized insurance domicile ("The Tribal Domicile”), targeting primarily the insurance-reinsurance-obligor facilities needed by vehicle dealerships and other specialized producers. Enabling legislation, initial regulations and rules, and costs appropriate for those markets were adopted. That program is up and running and has several approved formations.
During 2013 The Tribal Domicile has had discussions with industry participants in these specialized markets. We appreciate all of the insight that the industry has shared with us about the necessity for a strong, focused domicile, with clear readable laws and regulations, delivered at reasonable fees.
We have now developed and adopted revised specialized laws and regulations targeting this market and addressing the industry objectives.
Please review this website. Call us with your questions or comments. Unlike offshore domiciles, you can talk directly to your regulator. We will be responsive to your needs to the fullest extent possible, while maintaining the appropriate level of regulatory oversight to protect all participants in these specialized transactions.