Get Vt General Instructions - Captive Application For Redomestication Or Merger Of An Existing 2020-2025

Filling out the VT General Instructions for the Captive Application for Redomestication or Merger of an Existing Foreign/Alien Captive Insurance Company to Vermont can be a straightforward process if you follow the outlined steps carefully. This guide aims to provide clear and supportive instructions to help users successfully complete this online application.

Follow the steps to complete your application online with ease.

1. Click the ‘Get Form’ button to obtain the form and open it in your PDF editor. Ensure you are using a compatible application, preferably Adobe Acrobat, to fill out the form accurately.
2. Review the general instructions carefully before beginning. Coordination with the Vermont Department of Financial Regulation (VTDFR) is recommended to discuss your business plan and ownership structure.
3. Complete the required fields in the form, including the name of your captive, NAIC number, and current domicile jurisdiction. Make sure to provide accurate contact information for the regulator.
4. Fill in the details for your parent or sponsor and the main contact person regarding the application. Include addresses, phone numbers, and email addresses as required.
5. Select the type of captive and the organization form using the provided dropdown options. Ensure you choose the correct classifications that apply to your situation.
6. Disclose the principal place of business of your captive within Vermont as required by Vermont Statutes. This is a vital step in ensuring compliance with local regulations.
7. Complete questions regarding financial requirements, including the current capital and surplus, letters of credit, and any parental guaranties that may be in place.
8. Provide detailed information regarding beneficial owners, including names, addresses, and ownership percentages. Include organizational charts as necessary.
9. Include and attach financial statements, plans of operation, and any letters of credit that adhere to the required formats.
10. Once all sections of the application have been filled thoroughly, review and confirm the information is accurate. You may now save your changes, download, print, or share the form as needed.

Complete your application online today to ensure a seamless redomestication or merger process.