QROPS in Asia
Since HMRC has introduced a 25% exit tax for residents in Asia, QROPS business has completely fallen off, but there are other options.
Expats can set up an expat SIPP. That is a Self Invested Personal Pension that can be managed from outside the UK. Typically these SIPPs are set up in the Isle of Man or Mauritius.
Benefits of an Expat SIPP for Residents in Asia
- There is no 25% exit tax for an expat SIPP
- Manage all your pensions in one place
- Transfer your UK pensions (such as a UK SIPP, defined contribution or money purchase UK personal pension to an expat SIPP)
- Transfer your UK pension to another currency, such as the USD or EUR or stay in GBP
- The USD is a more stable currency vs. Asian currencies
- Set up a USD Expat SIPP and invest in equities, ETFs or funds listed on the New York Stock Exchange
- Invest in alternative investments
- Wide range of fund choice or ETFs available including gold ETFs
- Ability to move countries and still manage your SIPP: move freely worldwide
- An Expat SIPP is professionally managed and regulated
Please contact an expert who can help set you up with an expat SIPP