A second new Qualifying Recognised Overseas Pension Scheme (QROPS) financial centre has opened for business this month.
Hot on the heels of the Falklands Islands, which joined the ranks of financial centres offering QROPS pensions earlier this month, the Fondi Sllovene – Kosovar i Pensioneve has opened in the tiny Balkan state of Kosovo.
The two financial centres are the first to join the worldwide QROPS markets since April 2010.
The global QROPS market saw a net increase of 14 pensions, according to the latest HM Revenue & Customs (HMRC) QROPS List published on December 15, 2014. The list is scheduled as the last for the year.
New pensions opened in Australia (11), The Netherlands (2); Canada, Guernsey, Ireland and Kosovo (All 1), while two schemes were delisted in India and one in the USA.
The total number of QROPS pensions worldwide is now 3,589 – an increase of 14 on the number on the last list published on December 1, 2014, and a year-on-year rise of 335.
| QROPS List - December 15, 2014 | ||
|---|---|---|
| Financial jurisdiction | December 15, 2013 | December 15, 2014 |
| Australia | 1293 | 1552 |
| Austria | 10 | 11 |
| Barbados | 2 | 2 |
| Belgium | 22 | 23 |
| Bulgaria | 3 | 3 |
| Canada | 99 | 94 |
| Czech Republic | 3 | 3 |
| Denmark | 8 | 9 |
| European Union | 1 | 1 |
| Falkland Islands | 1 | |
| Finland | 3 | 3 |
| France | 41 | 37 |
| Germany | 56 | 55 |
| Gibraltar | 33 | 44 |
| Greece | 1 | 1 |
| Guernsey | 55 | 85 |
| Hong Kong | 2 | 4 |
| Hungary | 1 | 1 |
| Iceland | 3 | 3 |
| India | 27 | 10 |
| Ireland | 739 | 774 |
| Isle of Man | 231 | 225 |
| Italy | 47 | 49 |
| Jamaica | 2 | 2 |
| Jersey | 136 | 138 |
| Kosovo | 1 | |
| Latvia | 1 | 3 |
| Liechtenstein | 2 | 4 |
| Luxembourg | 8 | 8 |
| Malta | 18 | 22 |
| Mauritius | 2 | 2 |
| Netherlands | 106 | 115 |
| New Zealand | 55 | 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 | 137 | 139 |
| Trinidad | 2 | 2 |
| Turkey | 3 | 3 |
| USA | 15 | 13 |
| Number of QROPS: | 3254 | 3589 |
| Number of financial jurisdictions: | 42 | 44 |
| Source: HMRC | ||
