PENSIONS or QROPS FROM THE UK & THAILAND PROPERTY

Pension Transfer: QROPS Guide Thailand

If you are from the UK and you are thinking of moving to Thailand or you are here already, you can take advantage of changes in pension regulations from ‘A-Day’, April 6, 2006. You can now transfer your pension offshore to a tax beneficial jurisdiction such as Guernsey or the Isle of Man with the aid of QROPS specialists. We have listed some of the major benefits of a QROPS pension transfer below:

QROPS (Qualifying Recognised Overseas Pension Scheme) is a scheme in which you can transfer most types of UK pension offshore (e.g. Guernsey) in order to avoid buying an annuity and become tax efficient. It is designed for expats who live abroad and do not intend to return to live in the UK.

   

For UK Expats or anyone considering living on foreign shores, leaving Pensions in the UK has been a problem both for control and how to take benefits in a tax efficient way. This has now changed. Real advantages are now available with a little planning and advice which gives Pensions the flexibility we would all like.The benefits of moving into a QROPS is that our UK finance specialist here in Bangkok has over 50 years experience (company) in providing financial advice and that we are QROPS specialists.
We have access to the most secure QROPS plans with low charging structures.
Seek advice from one of our specialists today. Our consultation is free of
charge.

UK OVERSEAS PENSION HELP

for foreigners settling in Thailand

Pension Transfer: QROPS Guide Thailand

If you are from the UK and you are thinking of moving to Thailand or you are here already, you can take advantage of changes in pension regulations from ‘A-Day’, April 6, 2006. You can now transfer your pension offshore to a tax beneficial jurisdiction such as Guernsey or the Isle of Man with the aid of QROPS specialists. We have listed some of the major benefits of a QROPS pension transfer below:

QROPS (Qualifying Recognised Overseas Pension Scheme) is a scheme in which you can transfer most types of UK pension offshore (e.g. Guernsey) in order to avoid buying an annuity and become tax efficient. It is designed for expats who live abroad and do not intend to return to live in the UK

Our UK pension specialist has been in Bangkok and the owners of the company have 50 years of experience between them. Our UK Manager has been in Thailand for 13 years now and can assist all UK foreigners with pension assistance. Just email us and we will refer your email to our office.

Summary

In brief some of the advantages of QROPS are:

  • No requirement to purchase an insurance company annuity
  • Discretion over distribution of residual fund upon death of member
  • Greater flexibility on drawing benefits
  • Income paid gross and not subject to Guernsey income tax (unless a Guernsey resident tax payer)
  • No limit on contribution or fund size
  • Assets held within a QROPS grow free of taxation
  • No hidden penalties or charges
  • Outside the influence of the EU

 

SIPP GUIDE for expats who wish to retire in the UK or abroad

For expats who intend to retire or return to the UK, a better option for you would be to move into a SIPP (Self Invested Pension Plan). This gives you some of the tax advantages of a QROPS, but is still held in the UK and is under UK pension jurisdiction. If you are unsure of where you want to retire, this is the option for you.

Benefits of a SIPP include:

  • Freedom of choice of investment
  • Zero capital gains tax and income tax
  • Protected rights can now be transferred (S2P & SERPS)
  • Tax free lump sum of 25% available
  • No need to purchase an annuity
  • Tax free pension, lump sum or reduced pension if ill

To follow QROPS & SIPP news and advice on twitter,

please go to twitter.com/QROPSAdvisor

Is a QROPS beneficial for everyone?

Not always. Final salary schemes in the UK offer guaranteed income as well as built-in annual increases linked to inflation or a statutory amount. A suitability report would need to be prepared to make a reasoned analysis. Smaller pensions are better off in the UK as there are certain minimum charges incurred upon transfer to QROPS.

Can I move an annuity into a QROPS?

No. An annuity is a structured investment that you buy with a pension that pays you a set income each year. If you have purchased an annuity in the UK already, there would be no advantage of moving into a QROPS.

Who provides QROPS?

There are many providers of QROPS. All QROPS providers must be approved by HMRC in the UK. Theses schemes will have varying charges and structures, so it is important for you to consult an independent financial advisor who can write a suitability report for you to determine whether a QROPS is right for you.

Our UK pension specialist has been in Bangkok and the owners of the company have 50 years of experience between them. Our UK Manager has been in Thailand for 13 years now and can assist all UK foreigners with pension assistance. Just email us and we will refer your email to our office.

[ Pension Guidelines ] [ Pension Advantages ]

 

BUYING A HOUSE AND PROPERTY IN THAILAND

  Usufruct Interest (Sidhi-kep-kin) - gives you temporary ownership rights to structures on or arising from the land. In practice, a usufruct is limited to a 30 year maximum period; like leases, the agreement can be successively renewed. In contrast to a lease, a usufructury interest can be sold or transferred, although it expires upon the death of the holder of the usufruct and therefore cannot be inherited. This is better than a lease which by law can only be for a period of 30 years.

[ Best way to buy Thailand property ] [ Borrowing money] [ Using Thai Company to hold Property ]

[ HOME ] [ Visas ] [  Work Permit Letters to Ed ]  [ More about Chiangmai Trader News ] [ Non immigrant Visas ] [ Lawyer costs & services ] [ Bangkok fees ] [ Visas ] [ Work Permits ] [ Companies ] [ Amity Treaty ] [ Foreign Company Office ] [ Limited Partnerships ] [ Tourist visas ] [ Residency Visa] [ 1 year visa ] [ Visa newsletters ] [ Visa Myanmar ] [ Visa Cambodia ] [ Visa Nepal ] [ USA Report Birth ] [ Thai license ]  [ Company tax ] [ Income tax ] [ Company VAT ] [ Bank Accounts ] [ Marriage Laws ] [ Marry in Thailand ] [ Thai divorce ] [ Importing to Thailand ] [ Importing Cars & Vehicles to Thailand ] [ Leasing land ] [ House buying guide ] [ Security & Protection ] [ Foreign embassies ] [ Letter of Credit ] [ Terms-FAQ's]

[ NEW VISA costs ]

THE LARGEST THAILAND DIRECTORY & OUR PARTNER: ASIA TRADING POST

                 

Check out anything about Thailand on Asia Trading Post: from Business to Visas to Companies or just General. Free help. Click on:

  

Best  Property realty in ChiangMai & North Thailand

   

Thailand & China outsourcing Products

                             

 The world's top search engine 

 

Thailand's first Classified,auction website for biz or privte. Post your FREE ads

 
 

Copyright 2001 email:  lawyer@chiangmailaw.com