Finance and pensions information for non UK residents

We work closely with our Associated Partner who specialises in pension scheme transfers for ex-pats (QROPS) and act as introducers for equity release (for homes in Spain) and currency transfer between countries. Please contact us for further information on any of these areas.

Are you a non UK resident or planning to become non resident? Are you looking for key upto date information on your options when considering transferring your pension scheme offshore?

QROPS - Qualifying Recognised Overseas Pension Schemes for non UK residents

Her Majesty's Revenue and Customs (HMRC) permit UK pension rights to be transferred to a QROPS. The QROPS must behave in effect as if it were a UK scheme for those QROPS members who have been resident in the UK at any time in the previous five tax years.

The key attraction of a transfer to a QROPS lies in the fact that for those who are currently in the position of having been non UK resident for at least five tax years (or when they satisfy that condition) this requirement falls away.

After that time the pension fund becomes subject to the laws of the relevant overseas jurisdiction – and for example the UK requirement to purchase an annuity by age 75 (or be faced with the prospect of a possible 82% tax charge) no longer applies.

A QROP can be set up for ex UK residents as soon as they move abroad and become an "ex-pat" non resident of the UK (and intend to remain so over the long term).

One of the most recent and innovative QROP Schemes was launched in October 2007 and is based in Guernsey. This is aimed at funds in excess of GBP 250,000.

A scaled down fund was approved and launched in November 2007 for funds with as little as GBP 30,000.

For more detailed information please follow this link


Equity Release Scheme for Spanish property

An Equity Release Scheme allows the owner of property in Spain to release up to 100 percent of the value of their home.

An amount of up to 25 percent of the loan or 20 percent of the value of the property, whichever is lower can be taken out in cash.

The balance is invested to produce a return designed but not guaranteed to pay the interest on the loan and to provide extra income.

The minimum investment is 250.000 euros and any existing mortgage must be cleared by the 20 percent.

The released cash can be used for any purpose including the purchase of a larger property.

There are no age restrictions, within reason.

It is a non-status, interest only, multicurrency loan.

The normal term is 20 years.

For properties in excess of 750.000 euros there is more flexibility.

Contact us for more information: finance@arbutus-business.com




Arbutus (Spain) S.L. Registered in Spain B53891396