Exemption for an interest in a foreign life insurance company



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This exemption allows you to invest in a foreign life insurance company without attracting FIF taxation. [section 506]

A foreign company is considered to be engaged in life insurance business as defined in the Life Insurance Act 1995 only if:

  • the company is authorised in its country of residence to carry on life insurance business, and
  • the balance sheet of the company shows that at least 50% of the gross value of the company's assets were for use in carrying on life insurance business. [section 507]
Last modified: 27 May 2005QC 17512