QROPS in Gibraltar
The Mediterranean climate and English-speaking population of Gibraltar have long made it a popular retirement destination for British expats.
Make the most of your retirement with a QROPS
If you are a retiree living in Gibraltar with a British private pension, a QROPS could help your money go much further than keeping it based in the UK.
When you live in Gibraltar for more than five years, there are numerous benefits to transferring your pension into a QROPS.
Advantages of a QROPS in Gibraltar
As a British expat living in Gibraltar, a QROPS arranged through STM allows you to:
- Receive your pension income into your Gibraltar bank account in local currency
- Avoid paying UK tax on the fund
- Benefit from a potential zero tax rate in Gibraltar (subject to the settlement of a current dispute with the UK government)
- Choose the jurisdiction where your QROPS is held, to find the one that suits you best
- Easily access our advisors in Gibraltar, making it simpler to manage your finances
- Avoid UK inheritance tax
- Pass the fund on to your beneficiaries upon death
Is a QROPS right for me?
As long as you plan to live in Gibraltar for more than five years and have over £100,000 to invest, then a QROPS is an excellent solution.
It must be noted that the Gibraltar government and HM Revenue and Customs (HMRC) in the UK are still disputing whether Gibraltar’s proposed rate of 0% tax on pensions for the over-60s is legitimate under the terms of approved QROPS schemes.
In the meantime, STM Group offers a multi-jurisdictional QROPS, which allows you to invest in another jurisdiction, such as Malta, and transfer the scheme to Gibraltar free of
charge once the dispute has been resolved.
With a QROPS as a Gibraltar resident, your income will be in Gibraltar pounds, avoiding any issues with changes in the cost of living. And you won’t need to pay UK tax on the fund.
Instead, you’ll pay Gibraltar tax rates after five years of residency, once the dispute has been resolved to meet HMRC requirements.