Qualifying Recognised Overseas Pension Scheme (QROPS)

A Qualifying Recognised Overseas Pension Scheme (QROPS) is simply a pension scheme that, in meeting the requirements set by Her Majesty’s Revenue and Customs (HMRC) as well as local pension legislations, will allow a non-UK pension scheme to receive UK pension benefits. Any non-UK resident can qualify for and establish a QROPS, as well as any UK resident who plans to move elsewhere. 

 

Establishing a QROPS is advantageous in a number of ways, including but not limited to lower taxation on your pension, more control over the management of your pension funds, and the ability to determine your own beneficiary in the event of unforeseen circumstances.

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As qualifications for QROPS must comply not only with the HMRC, but also local legislations, it is required to be aware of any changes or updates to these laws. Without the proper knowledge and/or time to invest in understanding these laws, it may be frustrating to keep track of your QROPS status. Employing 10X Wealth Management’s services will remove this burden from your shoulders, letting you rest easy in the knowledge that expert professionals are in your service.

Contact us today to find if establishing a QROPS is in your best interests per your current circumstances.

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