QNUPS

A Qualifying Non-UK pension scheme (QNUPS) is a pension scheme established outside the UK which satisfies conditions prescribed by Her Majesty’s Revenue and Customs. Introduced in February 2010, the QNUPS has a number of tax advantages for individuals particularly expatriates who may wish to return to the UK in the future and individuals looking at either transferring from their QROPS or International Pension Plan (IPP).

Established under Maltese pension legislation, the main advantages of using a Dominion EU QNUPS based in Malta are:

• Enhanced security as Malta is an EU country
• Fully regulated by the Malta Financial Services Authority (MFSA)
• Funding - contributions do not need to be from earned income and can be funded by contribution or transfer from a QROPS or IPP
• Investment – flexibility and multi currency options
• Retirement benefits - can be paid out in the form of a pension and lump sum payments and deferred until age 75
• Tax efficient – no local taxes during your lifetime and selected beneficiaries outside the scope of local succession laws and UK Inheritance tax

For more information on the Dominion QNUPS, please contact a member of our New Business Team. 

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