QROPS US Qualifying

Dominion have recently launched the Dominion EU Retirement (US Qualifying) Plan, specifically structured under the recent double tax treaty between Malta and the US, which freezes the US Federal income tax exposure existing in a registered pension scheme for US citizens, green card holders and individuals who are resident in the US.

Established under Maltese pension legislation, the main advantages of using a Dominion EU Retirement (US Qualified) plan based in Malta are:

• Potential US income tax liabilities are frozen at the point of transfer from a UK registered pension scheme to a QROPS and provide a step up in basis
• Subsequent growth and distributions may be structured to be free of US Federal income tax
• Investment returns derived from direct investment in US domiciled assets are not subject to US withholding taxes
• Lump sums may be paid without being subject to US tax
• Treaty protected tax free lump sums are regarded as being paid out of untaxed income first, allowing income and gains within the QROPS potentially to escape US Federal income tax altogether
• Freedom from UK Lifetime Allowance
• Pension income paid free of UK income tax
• UK income tax charges eliminated on death (subject to 5 years non UK residence)

For further information on the Dominion EU Retirement (US Qualified) Plan please visit www.dominionqrops.com/US-QROPS or contact a member of our New Business Team.

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