The Office of the Lieutenant Governor, Division of Alternative Markets and International Reinsurance regulates captives in the U.S. Virgin Islands. The Superintendent of Alternative Markets regulates the Alternative Market Insurer Business being conducted in or from the Territory. We are considered “outside the U.S.” while being under the U.S. Flag (onshore) and a qualified “Offshore jurisdiction” for tax purposes. Tax incentives include a reduction in income, real property, excise, gross receipt, and premium tax by 100%. Captive insurance law is found at Title 22, chapters 55 & 66 V.I. Code.