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QROPS Specialists help British expatriates living or retiring overseas to avoid paying taxes in the UK on their existing pensions through UK pension transfers to a QROPS. A QROPS is a Qualifying Recognized Overseas Pension Scheme which allows existing UK pensions to be transferred offshore in order to avoid paying taxes in the UK. Sovereign Trustees have now launched their new Gibraltar QROPS and Malta QROPS which will see lower fees for the QROPS market. The new Gibraltar QROPS may well be one of the lowest priced QROPS on the market - couple this with Sovereign’s wealth of technical advisers and large network of employees, may make these QROPS offers possibly the most attractive of the year.Sovereign’s Gibraltar QROPS is named the ‘Calpe Retirement Benefit Scheme’. The Gibraltar QROPS using either a Royal Skandia or a Royal London offshore bond discounts to 750 GBP set up fee and 900 GBP per annum after that. It is another 100 GBP set up fee and another 100 GBP per year should one choose to use another company or platform. Clients will be outside of the UK tax net, but must pay a fixed flat rate of 2.5% per year on any income, but they will avoid the 55% tax upon death imposed in the UK whilst drawing benefits as well as UK’s income taxes of up to 50%.
The Gibraltar mini QROPS can be used for smaller pensions under 100K GBP. The investment options are either Skandia CIB or EIB (EIA in Singapore) or Royal London Oracle. Nice and simple, 300GBP set up and 500GBP per annum. The investment range would be more limited, but there are still plenty of funds to choose from.
Sovereign’s Malta QROPS is named the ‘Centaurus Retirement Benefit Scheme’. The Malta QROPS is priced at 1000 EUR set up fee for an open architecture investment (freedom of choice of investments rather than a limited fund range) and an annual charge of 1300 EUR. There is a discount if one uses Royal Skandia or Royal London 360 as the investment vehicle. In which case, the fees are 800 EUR set up fee and 1100 EUR per year.
Sovereign allow free switching between a Malta QROPS and a Gibraltar QROPS. This could be particularly useful if in a country which is in talks to sign a Double Taxation Treaty with Malta for example.
For those with a final salary scheme, QROPS Specialists offers critical yield report for free, so the options between leaving one's pension in the UK and moving offshore to a QROPS could be compared. For pensions over £500,000, QROPS Specialists will prepare a full TVAS report for free.
About QROPS Specialists:
QROPS Specialists help British expatriates with regards to their pensions. They specialize in finding the best tax efficient investment strategies for their clients. Their head office is based in Thailand, South East Asia’s hub. QROPS Specialists is the specialist QROPS division of Credenda Associates, an international financial advisory company.
http://youtu.be/QuCT9dxgggA
Contact Info:
Name: Richard Malpass
Email: Send Email
Organization: QROPS Specialists
Address: Level 16, Prime Building, 24 Sukhumvit 21, Klong Toey, Wattana, Bangkok, Thailand 10110
Phone: +6626617884
Website: http://www.qropsspecialists.com
Release ID: 2140
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