QROPS in Guernsey
Guernsey’s position as an international finance centre and its proximity to the UK make it a popular retirement destination for British expats. As an economically stable, English-speaking island, it has plenty to offer retirees.
Make the most of your retirement with a QROPS
If you are a retiree living in Guernsey with a British private pension, a QROPS can help your money go much further than keeping it in the UK.
When you live in Guernsey, there are numerous benefits to transferring your pension into a QROPS.
Advantages of a QROPS in Guernsey
As a British expat living in Guernsey, a QROPS arranged through STM allows you to:
- Receive your pension income into your bank account in Guernsey
- Avoid paying UK tax on the fund thanks to a double tax treaty with the UK
- Benefit from flexibility on taxation and drawdown
- Pay income tax at 20% with generous allowances
- Choose the jurisdiction where your QROPS is held, to find the one that suits you best
- Deal with a local adviser in Guernsey, making it easy to manage your account
- 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 Guernsey for more than five years and have over £100,000 to invest, then a QROPS is an excellent solution.
Guernsey has a good reputation as an offshore finance centre, with a stable, low-tax environment for British expats.
Holding a QROPS while living in Guernsey means you’ll pay Guernsey tax rates after five years of residency, currently 20% on income over the personal allowance of £10,700 for single people over the age of 64 up to £21,400 for a married couple both aged over 64.This represents a substantial saving on the UK’s 50% top rate.
Find out more about QROPS in Guernsey
Please contact STM QROPS for a no-obligation discussion to find out more about the advantages of a QROPS in Guernsey.