- Financial Advice
- Offshore Banking
- Pensions and Retirement Planning
- Wealth Management
- Estate Planning
- Offshore Tax
Non-residents can transfer their assets from an existing UK pension scheme into an HMRC recognised scheme abroad.
You can do this with most pensions providing you’re living outside of the UK, or intend to be within the next 6 months.
What are QROPS? QROPS stands for a Qualifying Recognised Overseas Pension Scheme.
Introduced in April 2006, a QROP Scheme is an HMRC-recognised offshore pension scheme that allows non-UK residents to transfer their UK private/company pension offshore, tax free.
There are various tax implications involved with transferring your pension overseas.
These can be split into three distinct sections: the first five years after transfer, the following years, and tax on your estate.