Hong Kong as your QROPS Jurisdiction

hongkong

At 17% Hong Kong’s tax rates are low enough that it can be regarded a tax haven.

Hong Kong additionally does not levy capital gains tax.

Questions on Hong Kong as your QROPS Jurisdiction

  1. Is Income Drawdown Available?

    • Yes.
    • Income is not subject to UK GAD rates.
    • Income is paid gross.
  2. What is the Maximum amount of lump sum available at normal retirement age?

    • Any payments are subject to trustee discretion.
  3. How is the pension payable calculated?

    • Actuarial tables and Modern Portfolio Theory.
  4. What happens if the client dies before retirement (during the first 5 years of non-UK residency)?

    • 100% of fund by-passing Probate to dependant.
  5. What happens if the client dies before retirement (after 5 years of non-UK residency)?

    • 100% of fund by-passing Probate to dependant.
  6. What happens if the client dies after retirement (during the first 5 years of non-UK residency)?

    Post retirement pre 75

    • Return of fund less 35% tax charge.
    • or a spouse’s/dependant’s pension could be paid.

    Post retirement post 75

    • Return of fund less tax charge up to 82%.
    • or a spouse’s/dependant’s pension could be paid.
  7. What happens if the client dies after retirement (after 5 years of non-UK residency)?

    • 100% of fund by-passing Probate to dependant.
  8. What are the tax rates on taking a pension if the client is resident in the same jurisdiction as the QROPS?

    • 0% tax.
  9. What are the tax rates on taking a pension if the client is resident outside of the jurisdiction of the QROPS?

    • No Hong Kong tax but there may be taxes in the country in which the client is resident.