Get Sars Cis001 Form Pdf

Filling out the Sars Cis001 Form Pdf can be an essential part of your application process. This guide will walk you through each section of the form, providing clarity and support to help ensure that your submission is complete and accurate.

Follow the steps to fill out the Sars Cis001 Form Pdf online.

1. Click ‘Get Form’ button to obtain the form and open it in the editor.
2. Review Section A – General Information: Provide details about the net worth of the International Insurer's Controlled Person(s) and include necessary financial statements if required. Ensure you indicate the class of authority to be licensed as Class 1, 2, 3, 4, or 5.
3. For a protected cell, upload a supplemental application for each cell and submit your operational plan at least sixty days prior to creation.
4. Indicate whether the International Insurer's Principal Representative is a resident of Puerto Rico.
5. Select the accountant or auditor from the list provided by the Commissioner.
6. Include signed and notarized Biographical Affidavits for each Director and Executive Officer.
7. Specify the proposed start-up date for your International Insurer.
8. Proceed to Section B – Organization Information: Include certified copies of the Board resolution authorizing insurance business transactions and the Articles of Incorporation.
9. Provide a copy of the Bylaws if they exist, and include copies of all relevant management agreements.
10. For branches of an International Insurer, submit financial statements and any recent examination reports certified by the insurance supervisory officer.
11. Transition to Section C – Financial Information: Indicate the amount of capital and surplus proposed for the formation of the International Insurer.
12. Ensure that this amount is reflected in your Articles of Incorporation and be aware of the Commissioner’s authority to adjust proposed amounts.
13. If applicable, include a clean, irrevocable Letter of Credit and ensure that all bank accounts are with a Puerto Rico bank or a Federal Reserve System member.
14. Check the requirements for maintaining capital and surplus in Puerto Rico, especially if you are a branch of an insurer.
15. Continue to Section D – Supporting Information and Attachments: Provide a comprehensive business plan, indicating expected gross and net annual premiums.
16. Include five-year financial projections and an actuarial feasibility study that meets specified criteria.
17. Describe any proposed reinsurance programs and include supporting documentation for risk management and anti-money laundering initiatives.
18. Move to Section E – Fees: Verify the required fees and include a certified check with your application.
19. Conclude with Section F – Certification: Ensure all application information is certified and notarized, and follow packaging requirements for document submission.
20. Once all sections are completed, save your changes, and consider downloading or printing the form if necessary.

Begin completing your Sars Cis001 Form Pdf online today to ensure a smooth application process.