QROPS: Which Jurisdiction Ticks All The Boxes?

Originally published in International Adviser, QROPS Supplement, March 2010

With a number of jurisdictions now offering QROPS, David Piesing from Praxis Fiduciaries and Stephen Ward of Premier Pension Solutions assess the relative benefits and which one comes out on top.

It seems like an eternity since QROPS became available back in April 2006. Four years on prospective client now have plenty of schemes and jurisdictions from which to choose.

The choice for most people is from schemes operating in jurisdictions which are open to both residents and non-residents.

The main markets for QROPS transfers are:

• Guernsey

• Isle of Man

• Gibraltar

• New Zealand

Malta will soon come on stream as well. We have not included Hong Kong as there are only 10 active schemes on the HMRC list and those are mainly occupational ones.