Guide To Eurbs


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Do you live in Cyprus and have a pension in another European country?

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  • QROPS transfer enables people to move their pension from the UK to residences of low or no tax jurisdictions such as Guernsey. Deciding on the jurisdiction of your QROPS pension transfer is one of the most important decisions you will need to make.
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Guide To Eurbs

  1. 1. Guide To EURBS
  2. 2. IntroductionAn increasing number of professionals of all nationalities have been moving and working abroad in thelast decade.Whether you are a young executive or a high net worth individual, we understand that each client hasspecific financial requirements and objectives. Thanks to deVere’s unique affiliations with the leadinginstitutions in the market place, we can offer offshore financial products and services that can helpyou achieve financial security and provide you with the quality of life you require as an expatriate orinternational investor.Investing in international accounts is no longer the premise of the rich and famous; all expatriates livingabroad can now enjoy the flexibility, among other benefits, by investing their money overseas.In recent years, the offshore financial industry has become more popular, prompting financial institutionsfrom around the world to enter the offshore market. Consequently, there are now many providers thatoffer a broad range of services ranging from saving schemes to pension and retirement plans; and wealthmanagement accounts to lump sum investment products.Over the years, deVere has developed strong partnerships with some of the world’s leading investmenthouses and insurance companies, all of which offer some of the most competitive products in themarketplace and a high level of protection for the investor.In this guide, we aim to provide you with essential information about effective retirement planning as aninternational investor or expatriate.In addition to the guide, one of our experienced financial consultants can assist you further by taking youthrough some of the options available to you which will help you start saving for your retirement with aEURBS scheme.What is EURBS?EURBS stands for European Union Retirement Benefits Scheme which allows individuals to transfertheir accrued pension into another jurisdiction when they move abroad or retire.Traditionally, when an individual leaves an employer, their pension is frozen with no access to theirmoney. European Union legislation has now changed, allowing freedom of movement of pensionsbetween different countries. It also allows pension holders to transfer their substantial funds to anothercountry when they retire to a different jurisdiction. Guide to EURBS
  3. 3. The EURBS is a Malta-domiciled pension scheme. Malta is a full member of the European Unionand has a long history of economic and financial security. Every pension scheme is registered with thehighly-respected Malta Financial Services Authority.By transferring your pension into a EURBS scheme, not only will you have greater investmentopportunities, but you will also be able to receive a lump sum free of tax on retirement and the potentialto pass on your pension fund to your beneficiaries in full in the event of your death.The EURBS is also written to meet the UK HMRC recognised overseas pension rules:BENEFITS OF TRANSFERRING YOUR PENSIONINTO A EURBSIf you transfer your pension into a EURBS that is based in another jurisdiction and you plan to retireabroad permanently, then the benefits open to you could help you live your retirement years in theluxury you deserve.The major advantages of transferring your pension into a EURBS can include. • Greater investment freedom with the flexibility of investing in a wide range of funds and investments • Ability to pass on pension funds to your beneficiaries upon your death • Tax-efficient • Up to 30% of the fund as a lump sum • Flexible currency • Tax planning opportunitiesFor your pension payments to become more tax efficient, or free of tax, it may be beneficial to transferyour pension into a EURBS in a neutral location, for example Malta.Once transferred to a Malta-based EURBS, the benefits will be paid in gross without Maltese tax andcan be paid in any currency.WHO IS ELIGIBLE FOR A EURBS PENSIONTRANSFER?To be able to transfer your accrued pension to a EURBS in another jurisdiction you must be: • between the ages of 18 and 70 • have a substantial pension of at least €50,000 to transfer • Ideally, you will planning to be overseas permanently or living in the country you have retired • It is open to all nationalitiesTo qualify for a EURBS pension transfer now, you must be living abroad or be planning to moveoverseas in the next 12 months.If you wish to learn more about transferring your pension to a EURBS, speak to one of our professionalfinancial consultants. The advice we provide is free and without obligation. Guide to EURBS
  4. 4. WHAT HAPPENS IF I LEAVE THE PENSION INTHE HOME COUNTRY?If you decide to leave your pension in your home country when you retire abroad, you could potentiallyface: • The application of higher tax rates • The inability to pass on the remainder of your pension to your beneficiaries upon your death, including your spouse and children • Poor investment flexibility and choice • Below-average growth in your pension fundEURBS SOLUTIONSEffective planning for your retirement can make the difference between just being able to live andhaving the retirement of your dreams. If you have a substantial pension and are planning to retire abroad,it makes sense to get professional financial advice from pension experts on EURBS.The deVere Group is committed to helping expatriate clients such as yourself to gain the most fromyour retirement-planning. If you wish to speak to one of our professional financial consultants abouttransferring your pension to a EURBS, please see our contact details below. The advice we provide isfree and without obligation.About The deVere GroupThe deVere Group is the world’s largest independent financial consultancy group. We work withinternational investors and expatriates to find financial services products that best suit their medium tolong-term requirements for investments, savings and pensions.With in excess of US$8 billion of funds under administration and management, deVere has more than60,000 clients in over a 100 countries. We believe that our success is our ability to offer independentfinancial advice on products that are tailor-made to fit an individual’s needs.As a result, we now have offices in Abu Dhabi, Tokyo, Miami, Geneva, Hong Kong, Johannesburg,Dubai, London, Mexico, Shanghai, Brussels, Zurich, and Moscow amongst others.The advice we provide is free and without obligation. Guide to EURBS
  5. 5. invest@devere-group.comThe companies below are part of the deVere Group:deVere and Partners (UK) Ltd is authorised and regulated by the Financial Services Authority (469151).deVere Investment South Africa (Pty) Ltd is an Authorised Financial Services Provider in South Africa.deVere Hong Kong Ltd. is registered as an Investment Advisor in Japan (#874). deVere and Partners(Belgium) BVBA is authorised by the Financial Services and Markets Authority (FSMA) in Belgium andregistered on the intermediaries register under number 61476, category insurance brokers. The followingbranches operate under the same license in Belgium: Cyprus, Luxembourg, Spain and France. Copyright deVere Group 2010 © All rights reserved