Thailand QROPS Information

thai_300px_flagsWith a great standard and a cheap cost of living, Thailand has emerged to become a retirement destination of great appeal to British expats.

However, drawing a UK-based pension upon retirement in Thailand is far from straightforward, and depending on the size of the funds, will be taxed at source by up to 40%.

Thailand is a huge place, and often simply having to travel to the correct financial institution to be able to draw your UK pension each month can involve a long round-trip. One of the benefits QROPS offer to those in Thailand is that funds are accessible using Internet Banking or an ATM card.

Through careful selection, a jurisdiction can be selected, and a UK pension transferred, that could end up saving the pension holder thousands of pounds in tax charges – depending on the size of the pension.

QROPS Benefits for Expats in Thailand

  • Avoid currency fluctuations
  • Easily accessible funds
  • Flexible withdrawal options
  • Control over investment choices
  • Tax-efficiency
  • Estate & succession planning

Flexible Access

The British government recently introduced the option for UK savers to access 100% of their pension upon retirement, 25% of which is free of tax. This option is also available with a QROPS, depending on jurisdiction, however advice must be sought before any decision on 100% withdrawal is taken.