Kenya is the latest financial centre to join HM Revenue & Customs (HMRC) QROPS List.
The nation is the second in Africa to offer Qualifying Recognised Overseas Pension Schemes (QROPS).
The other is South Africa, with a well-established QROPS market offering 32 different schemes.
The new Kenya QROPS is provided by Nairobi based ICEA Lion Group.
Kenya is the third QROPS centre to open in a few weeks – the others were in Kosovo and the Falklands Islands.
The QROPS market numbers 3,634 schemes worldwide – up 45 new pensions over the Christmas and New Year. No schemes were suspended.
In 2014, 412 QROPS opened and 31 were suspended. HMRC declines to confirm why schemes are suspended from the list, but this can cover anything from members moving their money to tax fraud.
HMRC is due to publish the next QROPS List on January 15, 2015.
| QROPS List - January 1, 2015 | ||
|---|---|---|
| Financial jurisdiction | January 1, 2014 | January 1, 2015 |
| Australia | 1295 | 1581 |
| Austria | 10 | 11 |
| Barbados | 2 | 2 |
| Belgium | 23 | 24 |
| 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 | 56 | 87 |
| Hong Kong | 4 | 4 |
| Hungary | 1 | 1 |
| Iceland | 3 | 3 |
| India | 26 | 10 |
| Ireland | 736 | 779 |
| Isle of Man | 230 | 227 |
| Italy | 47 | 49 |
| Jamaica | 2 | 2 |
| Jersey | 136 | 139 |
| Kenya | 1 | |
| Kosovo | 1 | |
| Latvia | 1 | 3 |
| Liechtenstein | 2 | 4 |
| Luxembourg | 8 | 9 |
| Malta | 18 | 22 |
| Mauritius | 2 | 2 |
| Netherlands | 106 | 116 |
| 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 | 135 | 140 |
| Trinidad | 2 | 2 |
| Turkey | 3 | 3 |
| USA | 15 | 14 |
| Number of QROPS: | 3253 | 3634 |
