Those of you reading this are probably already aware of the key benefits of a QROPS and who can have a QROPS (not only ex-pats but even UK residents). One of the unique benefits of a QROPS is that it does not have to be situated in the place you happen to be living at the time. Rather, transferring your UK pension into a QROPS enables you to choose the jurisdiction that will benefit you most now, in the future and in retirement. There are a number of options to consider, and your choice of jurisdiction should be guided by the factors covered in our article on Top 3 UK Pension Transfers Destinations. Three of the most popular; Gibraltar, Malta and the Isle of Man predictably happen to be the three safest options. This article goes into more detail on Malta QROPS and the unique advantages of using Providers of Malta QROPS.
In the early days of QROPS Guernsey was the number one jurisdiction, however, HMRC delisted the 300 schemes in Guernsey after a new rule was brought in for QROPS, that is that the schemes must be open to local residents and not a system for UK ex-pats. This opened the door for Malta pension providers with Malta’s strategy to build an economy based on international financial services. Malta now has 21 schemes and is considered as one of the top locations to transfer a pension for those living in the EEA.
Discussing QROPS in Malta we need to understand some key benefits in order to understand ‘why Malta?’ A start point is to understand the New QROPS Malta Rules for 2017 to see if it is suitable for you and if it meets your personal and financial objectives:
Some well-known providers of Malta Pensions and QROPS Solutions
Licenced by the Malta Financial Services Authority as Enrolled Insurance Brokers under the Insurance Intermediaries Act 2006, and to provide Investment Services under the Investment Services Act, 1994. Lawsons Equity Ltd have passported their services to Portugal, UK and Italy and have established a branch in Spain.
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