Deciding on the jurisdiction of your QROPS Pension Transfer is one of the most important decisions you will need to make.
These are some of the factors that are extremely important:
- You should ensure that it is in a tax-efficient & secure jurisdiction.
- It should have strong investor principles similar to the UK.
- The jurisdiction should offer significant improvement in investment and benefit options available. For example, some jurisdictions require you to purchase an annuity, and place major restrictions on the funds you can go into.
- A jurisdiction such as the Isle of Man, Jersey, or Guernsey would be optimal, as they offer tax efficiency, flexibility, strong investor principles are are denominated in a strong currency.
- Guernsey is probably the best option of these as it offers the greatest flexibility.
