QROPS List – December 1, 2016

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French Qualifying Recognised Overseas Pension Scheme (QROPS) have bid adieu as all the offshore pensions based in the country are now delisted.

France opened as a QROPS centre in January 2007 with three pensions.

Between 2007 and 2013, the number of QROPS gradually increased to 41, making France one of the top 10 offshore pension jurisdictions for expats.

However, the market has struggled since June 2015, when new tax rules imposed by HM Revenue and Customs (HMRC) saw the number of pensions dwindle to four.

Since then, France has recovered to offering expats 11 QROPS, but 10 pensions were delisted in November 2016 and now the final pension has followed.

All French QROPS delisted

The global number of QROPS stands at 1,228 – up 1,327 from 901 at the start of December 2015.

The country offering the most QROPS is Australia with 361 schemes listed.

Since the last QROPS List was published by HMRC on November 15, 15 pensions have opened in Australia, nine in the Isle of Man and one each in India and the Netherlands.

France, Germany and Jersey have each seen one scheme delisted.

HMRC does not disclose the reason why a pension is removed from the QROPS List.

HMRC publishes an updated list of QROPS every fortnight. The next QROPS List is due on December 15, 2016.

QROPS List By Financial Jurisdiction

Financial JurisdictionNo of QROPS
Australia361
Austria8
Barbados1
Belgium10
Bulgaria2
Canada3
Czech Republic2
Denmark3
European Union1
Finland1
Germany25
Gibraltar51
Greece1
Guernsey143
Hong Kong17
Hungary1
Iceland1
India15
Ireland85
Isle of Man240
Jamaica1
Jersey83
Kenya1
Kosovo1
Latvia3
Liechtenstein3
Luxembourg3
Malta29
Mauritius3
Netherlands61
New Zealand35
Norway4
Portugal4
South Africa12
Spain2
Sri Lanka1
Sweden6
Switzerland2
Turkey2
United States of America1
Total:1228

Source: HMRC

The table shows the net number of schemes, accounting for new listings and removals since the publication of the last list.

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