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ARTICLE · 27 JUNE 2001

Pension Transfers For High Net Worth Individuals - Qualifying (Category 2) Individuals

ECS International
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GibraltarEmployment and HR

Introduction

For many years ECS International have provided a consultancy service to individuals moving to take up employment abroad. Much of our business in this area has been dealing with transfers from the United Kingdom to the Isle of Man. However an individual that has been granted "Qualifying (Category 2) Individuals Status" in Gibraltar has the opportunity to transfer their pension to Gibraltar.

What Are The Advantages?

  • 25% of the pension can be taken from the scheme by way of tax-free cash on retirement.
  • A Pension can be drawn from the fund with no requirement to purchase an annuity.
  • No additional tax is payable on the pension other than the liability arising under Category 2 status

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