Offshore watchers have little to report with the release of the latest HM Revenue and Customs (HMRC) QROPS List.
The number of Qualifying Recognised Overseas Pension Schemes (QROPS) available worldwide dropped slightly from 1,264 at the start of the year to 1,259.
The number of financial centres providing QROPS remains the same at 40.
Although new pensions opened in Guernsey and Hungary, three closed in New Zealand and one each in Germany, Ireland, the Netherlands, New Zealand and Jersey.
HMRC refuses to comment on why pensions are delisted.
The QROPS List is published by HMRC every two weeks.
The list is not a directory of approved pensions but a guide to international pensions that self-certify that they meet QROPS qualification rules.
HMRC says transferring pension cash to an offshore scheme not on the list can result in financial penalties.
The next QROPS list is due on February 1, 2017.
For more information about QROPS and the benefits it provides, download the iExpats QROPS Guide or complete the Get Advice form.
QROPS List By Financial Jurisdiction
| Country | No of QROPS |
|---|---|
| Australia | 376 |
| Austraqlia | 1 |
| Austria | 9 |
| Barbados | 1 |
| Belgium | 9 |
| Bulgaria | 2 |
| Canada | 3 |
| Czech Republic | 2 |
| Denmark | 3 |
| European Union | 1 |
| Finland | 1 |
| Germany | 24 |
| Gibraltar | 51 |
| Greece | 1 |
| Guernsey | 149 |
| Hong Kong | 18 |
| Hungary | 2 |
| Iceland | 1 |
| India | 15 |
| Ireland | 86 |
| Isle of Man | 247 |
| Jamaica | 1 |
| Jersey | 83 |
| Kenya | 1 |
| Kosovo | 1 |
| Latvia | 2 |
| Liechtenstein | 3 |
| Luxembourg | 4 |
| Malta | 31 |
| Mauritius | 3 |
| Netherlands | 60 |
| New Zealand | 34 |
| Norway | 4 |
| Portugal | 4 |
| South Africa | 12 |
| Spain | 2 |
| Sri Lanka | 1 |
| Sweden | 6 |
| Switzerland | 2 |
| Turkey | 2 |
| United States of America | 1 |
| Total: | 1259 |
Source: HMRC
The table shows the net number of schemes, accounting for new listings and removals since the publication of the last list.
