Retirement schemes established in Malta are regulated by the Malta Financial Services Authority (MFSA) and may become a Qualifying Recognised Overseas Pension Scheme (QROPS) upon recognition by the UK Revenue and Customs (HMRC). A QROPS is a pension scheme which is established and regulated outside the UK but which is recognised in the UK for tax purposes. Consequently, a QROPS provides investment flexibility and with proper planning, tax benefits and tax planning opportunities to individuals who have an accumulated pension in a UK recognised scheme.
Due to an efficient regulator and attractive tax benefits, Malta has proven itself an attractive jurisdiction to set up such schemes.
Fenech Farrugia Fiott Legal offers its extensive experience in this area with the full support of its tax and inheritance planning practices.
For further assistance, kindly contact Dr. Tonio Fenech.