Tax and Legal QROPS Jurisdiction

  1. What is a QROPS Jurisdiction?

    • This is the country/state where a pension fund is located, and therefore tax laws, and other laws, which would affect the fund's governance.
  2. How do I select a QROPS jurisdiction?

    • The QROPS jurisdiction should be tax-efficient.
    • You should be a secure jurisdiction.
    • It should also have strong investor principles such as the UK.
    • The jurisdiction should offer significant improvement in investment and benefit options available. For example some jurisdictions require you to purchase an annuity, and place major restrictions on the funds you can go into.
    • A jurisdiction such as the Isle of Man, Jersey, or Guernsey would be optimal, as they offer tax efficiency and flexibility.
  3. What makes Guernsey one of the best QROPS options?

    • Guernsey is an independent, well regulated and internationally accepted jurisdiction with a firm framework of legislation in the financial services sector.
    • Pension providers on the island have worked closely with HMRC to ensure a robust QROPS offering for both its resident and international clients.
    • It is a neutral jurisdiction which allows tax-efficient structures. This means that income and capital gains from the assets within your plan are not subject to Guernsey tax. Therefore, the assets within your plan grow in a tax efficient environment.
    • You can choose your QROPS Pension Transfer to be denominated in a hard currency (Pounds, Dollars or Euros).