Malta QROPS Schemes for Residents of India
Over the past couple of years, Malta has established itself as one of the leading jurisdictions in which to set up your QROPS pension. There are a number of reasons for the emergence of Malta as a premier QROPS jurisdiction, including the following:
- Extensive tax Treaty Network. This is by far the most influential factor in explaining the rise and rise of Malta in the QROPS marketplace. Currently Malta has over 60 double taxation agreements in place.
- Robust Regulatory Regime. The QROPS regime was put in place with significant input from Malta's regulator, the Maltese Financial Services Authority (the 'MFSA'). The MFSA had detailed discussions with HMRC when it drafted it's pensions legislation, including the provisions relating to the establishment of QROPS, and therefore a UK pension member and their adviser can feel comfortable that a Maltese QROPS will find itself removed from the approved list of QROPS anytime soon.
- 30% tax free lump sum available. This is in excess of the 25% available to UK pension scheme holders.
- Trust law is based on English law.
- Large pool of highly qualified accounting and legal professionals.