QROPS Dubai- Tax Free Advantages
QROPS Dubai- Tax Free Advantages
Being a tax haven, QROPS Dubai is the answer for expatriates to enjoy the tax free benefits on their pension. Dubai, known for its oil and wealth, is now also a major financial and tourism center. With all the duty free shopping and a five star lifestyle, it has become a major destination for many expats, especially the British.
QROPS Dubai is less complicated and hassle-free, unlike QROPS in some of the other countries like Spain, France etc. With a structure which is dependable, UAE would be the ideal country to have your pension stacked up. One always fancies putting away their pension in a different country where the tax is low. By opting for QROPS Dubai, you can enjoy a tax free income while living in Dubai. However, the precondition is that the country you plan to transfer your pension to must be approved by Her Majesty's Revenue and Customs department.
Once you have made up your mind to settle in Dubai and put your pension in QROPS Dubai, many advisers from the financial sector may try to contact you and try wooing you to put your money in different investments. You need to understand that the rules and specifications of Her Majesty's Revenue and Customs department are very complex. An adviser who is an expert in the financial system of Dubai may have no understanding of pension rules in the UK and his advice could turn out to be unsafe for your money.
Investing overseas is complicated as it is and pension funds fall under a separate league all together. If the person giving you financial advice on QROPS is not aware of the rules and has no connections in the UK, you can land up paying huge taxes and penalties. However, if you have done your homework, you can choose an adviser who has thorough knowledge of Her Majesty's Revenue and Customs rules, then he can lead you carefully by providing step by step rules and procedures and enlighten you about QROPS Dubai.
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