Financial News

QROPS List – February 1, 2016

Offshore pension choices for expats increased again in the past two weeks with the opening of 15 new Qualifying Recognised Overseas Pension Schemes (QROPS).

Worldwide, 960 QROPS are available – but that’s a big drop in the 3,667 open for business a year ago before HM Revenue & Customs (HMRC) introduced stricter qualification rules.

Australia again saw the largest number of new pensions – with seven, taking the country total to 63.

Ireland was next, with two new QROPS, making 82 available.

Germany, Gibraltar, Hong Kong, The Netherlands and Norway all added one pension.

Leading QROPS centres

No QROPS were delisted and the number of financial centres offering the pensions remains 1t 41.

The Isle of Man, with 202 QROPS and Guernsey with 135 are the two leading offshore financial centres for expats by number of QROPS.

HMRC does not issue figures detailing the amount invested in each fund.

Although almost a thousands of QROPS pensions are available, many have restrictions on residence or membership.

HMRC will publish the next QROPS List on February 15, 2016

QROPS List By Financial Jurisdiction

CountryNo of QROPS
Australia63
Austria7
Barbados1
Belgium14
Bulgaria2
Canada64
Czech Republic2
Denmark4
European Union 1
France11
Germany31
Gibraltar47
Greece1
Guernsey135
Hong Kong12
Hungary1
Iceland1
India9
Ireland82
Isle of Man202
Italy19
Jamaica1
Jersey83
Kenya1
Kosovo1
Latvia3
Liechtenstein3
Luxembourg4
Malta23
Mauritius1
Netherlands63
New Zealand31
Norway6
Portugal4
South Africa12
Spain3
Sri Lanka1
Sweden6
Switzerland1
Turkey2
United States of America2
Total:960

Source: HMRC

For more information about QROPS and the benefits it provides, download the iExpats QROPS Guide or complete the Get Advice form.

Leave a Comment