| Guernsey is generally an excellent QROPS jurisdiction with a well defined local pensions’ law and a strong tradition as a trustworthy financial centre often making it an ideal choice for the expat looking to transfer their UK pension fund.
As a QROPS jurisdiction, Guernsey is one we favour where the client’s fund is of sufficient size to make the arrangement viable, typically with private pension funds in excess of £80,000.
It has to be recognised though that peoples circumstances change. So, the flexibility and certainty of any scheme we recommend in our capacity as QROPS advisers and overseas pensions specialists is vital.
Guernsey is particularly attractive for those who wish to retain their fund inside the protective wrapper of a pension trust and to ensure that following death the remaining fund may be passed down free from UK tax.
There is plenty of choice of QROPS providers. Choosing the right one depends on the client’s particular needs. A client with a large fund may require greater investment flexibility whilst for another client the key may be flexibility as to how benefits may be structured. Taking as an example a client living in Spain, a QROPS can be structured to ensure tax is paid at a low rate, typically under 2.5% under the Spanish tax system.
The importance of obtaining professional advice from a firm which has extensive pensions expertise and which offers a transparent charging structure cannot be overstated.
For further information about Guernsey QROPS please contact us or see our website
www.qropsguernsey.com and www.qrops.es |
