The first new Qualifying Recognised Overseas Pension Scheme (QROPS) financial centre since April 2010 has opened for business.
The Falkland Islands Pension Scheme makes the British Overseas Territory the first QROPS centre to open since April 2010, when Malta started offering QROPS.
The pension adds to those opening in six other financial centres in the past two weeks –
- Australia (8)
- Guernsey, Ireland, Italy, Jersey, Liechtenstein all opened one scheme
Meanwhile, two schemes closed in Canada and one in The Netherlands.
The worldwide total of QROPS pensions now stands at 3,575 schemes across 43 financial centres.
Australia remains the leading QROPS centre by number of pensions, with 1,540 schemes taking a 43% market share.
The figures come from the HMRC QROPS List, which is generally published twice a month.
The next list is expected on December 15, 2014.
| QROPS List - December 1, 2014 | ||
|---|---|---|
| Financial jurisdiction | December 1, 2013 | December 1, 2014 |
| Australia | 1290 | 1541 |
| Austria | 10 | 11 |
| Barbados | 2 | 2 |
| Belgium | 22 | 23 |
| Bulgaria | 3 | 3 |
| Canada | 98 | 93 |
| Czech Republic | 3 | 3 |
| Denmark | 8 | 9 |
| European Union | 1 | 1 |
| Finland | 3 | 3 |
| France | 41 | 37 |
| Germany | 56 | 55 |
| Gibraltar | 24 | 44 |
| Greece | 1 | 1 |
| Guernsey | 56 | 84 |
| Hong Kong | 2 | 4 |
| Hungary | 1 | 1 |
| Iceland | 3 | 3 |
| India | 22 | 12 |
| Ireland | 731 | 773 |
| Isle of Man | 231 | 225 |
| Italy | 47 | 49 |
| Jamaica | 2 | 2 |
| Jersey | 135 | 138 |
| Latvia | 1 | 3 |
| Liechtenstein | 2 | 4 |
| Luxembourg | 8 | 8 |
| Malta | 17 | 22 |
| Mauritius | 2 | 2 |
| Netherlands | 107 | 113 |
| New Zealand | 54 | 59 |
| Norway | 7 | 8 |
| Portugal | 23 | 23 |
| Russian Federation | 1 | 1 |
| South Africa | 31 | 32 |
| Spain | 16 | 16 |
| Sri Lanka | 1 | 1 |
| Sweden | 8 | 7 |
| Switzerland | 136 | 139 |
| Trinidad | 2 | 2 |
| Turkey | 3 | 3 |
| USA | 15 | 14 |
| Grand Total | 3226 | 3574 |
| Source: HMRC | ||
