QROPS in the Isle of Man

The Isle of Man is a politically and financially stable island with the advantage to British expat retirees of being English-speaking and geographically close to the UK mainland.

Low tax rates and a wealth of leisure opportunities make it an attractive option for retirement, particularly for QROPS holders.

Make the most of your retirement with a QROPS

If you are a retiree living in the Isle of Man with a British private pension, a QROPS can help your money go much further than keeping it in the UK.

When you live in the Isle of Man for more than five years, there are numerous benefits to transferring your pension into a QROPS.

QROPS are available from providers both on the island and in other offshore jurisdictions.

Advantages of a QROPS in the Isle of Man

As a British expat living in the Isle of Man, a QROPS arranged through STM allows you to:

• Receive your pension income into your Isle of Man bank account
• Avoid paying UK tax on the fund
• Pay income tax at rates as low as 10%
• Choose the jurisdiction where your QROPS is held, to find the one that suits you best
• Deal with a local adviser in Isle of Man, 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 the Isle of Man for more than five years and have over£100,000 to invest, then a QROPS is an excellent solution.

You won’t need to pay UK tax on the fund. Instead, you’ll pay local Isle of Man tax rates after five years of residency, currently between 10% and 20% on income over the personal allowance of £10,500 for single people, or £21,000 for married couples.

Find out more about QROPS in the Isle of Man

Please contact STM QROPS for a no-obligation discussion to find out more about the advantages of a QROPS in the Isle of Man.