How To Choose The Best QROPS Jurisdictions

Qrops jurisdictions

Last updated 01 May 2019

 

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Choosing the correct QROPS jurisdictions is an important aspect of opening a QROPS. If you’ve missed our article with Qualifying Recognised Overseas Pension Scheme details make sure you check it now. Different QROPS jurisdictions offer different pension benefits with some offering a greater degree of tax relief while others are known for their political and economic stability as well as their confidentiality. Choosing an offshore jurisdictions governed by sound regulation is the best option. Jurisdictions with an excellent track record include the Channel Islands (Guernsey and Jersey).

Popular QROPS Jurisdictions:


Australia

Australia is all about the desert, kangaroos, koalas and beautiful cities, the vast Great Barrier Reef where the coral thrives and the humpback whales go to breed. Australia offers countless opportunities for sailing, scuba diving and snorkeling and is one of the best QROPS jurisdictions.

Their highly regarded legislation which ensures the privacy and integrity of clients information is upheld, covers QROPS pension asset protection. An offshore retirement plan allows you to access global investments and improve your tax efficiency. Australia is one of the leading world economies, an international financial centre and is also one of the favoured QROPS jurisdictions.

Benefits Include:

  • Expertise in Asset Protection
  • Strong Legislation
  • Tax Efficient
  • Simplified Estate Planning
  • Flexible Investments

Canada

Canada is a vast country with outstanding tourist attractions such as pristine ski slopes, polar bears, the northern lights, humpback whales and some of the best cities in the world are here.

Canada is a favourable jurisdiction for British pensioners wishing to retire there, not least because English is widely spoken throughout the country.

The financial regulations in Canada offer a very high standard of investor fund protection and financial institutions which have QROPS status have an obligation to keeping their clients’ affairs confidential.

Benefits Include:

  • Assets are well protected
  • Strong legislation
  • A tax efficient jurisdiction with regards to inheritance tax
  • A sound reputation as an authority in retirement planning
  • Clients affairs are kept confidential
  • Fund can hold a number of investments

France

France, with its Mediterranean climate, wine, olives and beautiful coastline, is a destination of choice for many British retirees.France is a tax haven a nd also one of the premier QROPS jurisdictions.

France offers important benefits such as robust asset protection and legislation. France has a reputation for professionalism and integrity, a high regard for clients’ confidentiality, and a commitment to encouraging international retirement planning.

Benefits Include:

  • Expertise in pensions
  • Confidentiality of clients information
  • Strong legislation and asset protection
  • Tax efficient
  • A reputable jurisdiction
  • Flexible investment options

Gibraltar

The rock of Gibraltar is the first sight visitors have on this small but beautiful island in the Mediterranean. Gibraltar is British overseas territory and one of the leading QROPS jurisdictions. Gibraltar offers the important elements of robust asset protection and legislation.

Gibraltar has a high regard for clients’ confidentiality, a reputation for professionalism and integrity, and a firm commitment to encouraging international investment.

Benefits Include:

  • Expertise in international retirement schemes
  • Confidentiality of clients information
  • Strong legislation and asset protection
  • Tax efficiency

Guernsey

The English Channel island of Guernsey attracts holidaymakers from all over the world who come to enjoy its breathtaking scenery, hike along the cliffs and stunning beaches, an idyllic tourist destination. Guernsey also has an international reputation as one of the leading QROPS jurisdictions.

Robust legislation and a strong financial framework make the Guernsey offering an attractive option. Guernsey is acknowledged worldwide for its integrity, confidentiality and tax efficient approach.

Benefits Include:

  • UK Crown Dependency and politically stable
  • Safe protection of assets
  • Tax efficient
  • Clients information kept confidential
  • Funds can be denominated in Euros, Pounds or US Dollars

Hong Kong

Hong Kong is an eclectic city, with its modern skyline, crowded sidewalks, vibrant city life and outstanding tourist attractions, all which keeps its visitors happy. Hong Kong is also a world class financial hub, making it one of the most favourable QROPS jurisdictions. English Law forms the basis of legislation.

Retirement planning and business is well established in Hong Kong, their financial services and obligation to keeping their clients’ affairs confidential make this a perfect destination.

Benefits Include:

  • Assets are well protected
  • Safe protection of assets
  • A tax efficient jurisdiction
  • A sound reputation as an authority in retirement and savings
  • Clients affairs kept confidential
  • Flexible investment options

Ireland

Ireland attracts holidaymakers from around the world, they come to trace their family history, boat on the canals, enjoy its breathtaking scenery, hike through the beautiful countryside and walk along the stunning beaches.

Ireland has a reputation for integrity and a tax efficient approach in dealing with offshore retirement planning making it a sound option for investment.

Benefits Include:

  • Simplified estate planning
  • Safe protection of assets
  • Tax efficient for both clients and beneficiaries
  • Clients information kept confidential
  • Spread of investments

Isle Of Man

The Isle of Man in the Irish Sea is world famous for its annual TT road race through the islands main roads, ancient fortresses and gorgeous countryside. Of all the QROPS jurisdictions, the Isle of Man with its robust economy and strong financial services is a top contender.

The Isle of Man has a favourable international reputation for professionalism, integrity and confidentiality in dealing with international finance; their well regulated legislation offers full asset protection.

Benefits Include:

  • No capital gains tax
  • Schemes are exempt from inheritance tax
  • An established reputable authority for retirement business
  • Clients information kept confidential
  • Blue chip jurisdiction

Malta

There are so many reasons to holiday in Malta, from the ancient ruins and the walled city of Mdina, to the great snorkelling and diving opportunities for sun and sea lovers. Malta is also a leading international financial centre and a foremost foreign investment center. With its reputable legislation, the privacy and integrity of clients information is maintained.

Several foreign banks are registered in Malta and as a full member of the European Union it is an ideal choice when exploring QROPS jurisdiction options.

Benefits Include:

  • Expertise in asset protection
  • Strong legislative framework
  • Effective tax jurisdiction
  • Confidentiality regarding clients information
  • No exchange controls

Jersey

Jersey is a Channel Island with a picturesque coastline, charming towns and quaint harbours, a holiday here is conducted at a leisurely pace. Jersey is a British Crown Dependency with a robust economy; the international financial services available in here make this a premier business destination.

Jersey is also a popular retirement destination for British retirees; it has a blue chip reputation for investmentasset protection and for ensuring the privacy clients’ affairs.

Benefits Include:

  • Investment asset protection
  • Flexible investment options with access to global funds
  • Strong culture of upholding investment legislation
  • Anonymity and confidentiality regarding clients information
  • Tax efficient for clients and their beneficiaries

Contact Us For Advice On QROPS Jurisdictions

QROPS jurisdictions differ in their areas of specialisation and whichever jurisdiction is selected, it must be chosen according to an individual’s needs. For help in finding out which jurisdiction is best suited to your specific needs, we suggest you contact an independent financial consultant. We can also assist by answering any of your pension questions, including the impact of BREXIT.

Contact Us and we’ll put you in touch with a reputable, registered financial adviser in your area for advice. If you find this information useful, you can check also our in depth articles on QROPS and how to approach a pension release.Are you interested in company pension scheme? We have all the information for you! Check our detailed articles!

John Lawson

John Lawson

John advises business, individuals, and organisations on pension planning. As you’ve probably realised by now, we’re invested in helping people like yourself understand a little bit more about how equity release options work.

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