• QROPS Help Centre, your definitive guide to finding the right qrops pension transfer. All areas covered from Spain to France and from Cyprus to New Zealand. Contact Us today for specialist advice in simple plain english.

    Specialist Help For USA Residents

    It is estimate that there are over 1.5 million British expats now living in the USA. A very large proportion of this number will never return to the UK. Choosing to live out their twilight years in sunnier climes.



    The USA is certainly a favourite destination for many UK ex-pats, however transferring a pension into QROPS is problematic for stateside residents as well as ex-pats.

    For the first time some QROPS is now available that tackles the necessary legal and administrative issues that have prevented US residents and nationals from picking up the tax and investment benefits or transferring to a QROPS.

    QROPS advisers do confirm that the HM Revenue and Customs listings of QROPS have included several US 401(k) pension schemes more or less from day one of April 2006. In principle QROPS transfers were available to US nationals living abroad along with UK ex-pats moving to the United States.

    It does remain that the HMRC’s counterpart in the USA namely the Inland Revenue Service (IRS) has so far refused to recognise QROPS transfers into a QROPS USA 401(k) pension by UK ex-pats living there. The reason for this they claim is that the QROPS structure is not legal.

    A similar no-go status was imposed on US nationals overseas who transferred from a 401(k) to a QROPS.

    QROPS 401(k) And IRA Transfers

    Both triggered IRS tax penalties on any funds that were transferred.

    This unfortunately is likely to tighten up further from January 2013 when the Foreign Account Tax Compliant Act comes into force. The Act will virtually bar all US residents and US nationals living outside the country from transferring their pensions into a QROPS.

    Although this complicates any QROPS transfers in or out of a 401(k) pension some providers have managed to re-structure the master trust that manages a QROPS into a USA-friendly legal entity.

    This is a legal alternative that opens QROPS USA investments as a two-way street between transferring from a UK pension to a US QROPS and likewise from a US 401(k) to an offshore QROPS.

    The framework is now in place, however QROPS USA is still tied up in red tape and successful transfers do require patience, specialist skills and expertise.

    The possibility of moving QROPS pension transfers for UK ex-pats living in the US does open a new world of investment opportunities that were once unavailable.

Qrops Pensions Malta

Malta has a very long distinguished affiliation with the United Kingdom, it was a trusted and reliable ally in war and peace.

QROPS pensions for British ex-pats living in Malta and other countries have been available on the island since December 2009.

The offshore financial centre is growing in stature, it has a reputation for providing a competitive tax regime, a stablised economy and clear financial regulations.

Unlike many other offshore centres Malta is a full member of the European Union as well as being part of the Euro zone.

QROPS Malta are open to everyone who has UK pension rights.

Malta QROPS Advice For Your Financial Goals

Malta QROPS follows the same rules as any other QROPS offshore pensions.

HM Revenue and Customs lays down the rules that QROPS must fully follow as a registered pension scheme on the UK QROPS list.

Each individual QROPS is managed by trustees who endeavour to determine the terms and conditions of their specific QROPS set within the framework provided by HMRC. This means that the administration of a QROPS may vary from one scheme to another.

For example, one QROPS may allow a 25% tax free lump sum drawdown, while another may allow a 25% tax free lump sum.

Variations between provider rules are one reason why anyone considering a QROPS transfer should discuss their personal financial targets with an independent adviser, they can then assess multiple QROPS across numerous jurisdictions.

This allows the adviser to tailor-make a QROPS solution specifically for a client rather than trying to advise and cajole them into an unsuitable plan.

No Tax On Malta QROPS Payments Or Lump Sums

Malta offers fully comprehensive and attractive tax breaks to QROPS investors.

For non-residents the island has the following:

  • No income tax on pension cash lump sums
  • No income tax on pension income – benefits are paid gross
  • No capital gains tax on pension fund gains
  • No inheritance tax or other death duties

QROPS investors would be wise to remember that any pension fund benefits might be taxed in the country where they are resident. Malta has more than fifty double taxation as well as tax information exchange treaties with other countries.

For more information, visit the HMRC website here.