A QROPS (Qualifying Recognised Overseas Pension Scheme) is a pension scheme established in a jurisdiction outside the UK that satisfies rules and regulations laid down by UK legislation (and has notified HMRC that it fits such criteria) in order to be able to receive transfers of UK registered pension schemes as authorised transfer payments.
The Trafalgar Pension Scheme (Trafalgar) is a personal pension scheme established under trust and tax approved in Gibraltar.
If you are a UK expat individual who is tax resident within an EEA country and have UK pension schemes from former employment or otherwise, Trafalgar may be the solution for you.
Trafalgar is listed with the UK tax authority HMRC Revenue & Customs as a QROPS, and is a qualifying jurisdiction for the purposes of the exemption from the UK Overseas Transfer Charge where the individual member is an EEA tax resident individual, meaning that the transfer of your UK pension schemes can be made without incurring any UK tax.
Boal & Co first expanded into Gibraltar in 2013 with the introduction of a Gibraltar based QROPS. This marked a significant extension of Boal & Co's offering to expatriate clients and their advisers around the world.
The Boal & Co Gibraltar office opened in 2015, providing a local team for the Gibraltar market.
In 2022, Boal & Co Gibraltar's offering expanded to include a multi-employer pension scheme for local employers.