a Brief guide to QNUPS and how they can help your IHT and estate planning

1. Guide To Investing In QNUPS

2. Introduction
An increasing number of professionals of all nationalities have been moving and working abroad in
the last decade. Whether you are a young executive or a high net worth individual with a diversified
portfolio of global assets, you will have specific financial requirements and objectives. Offshore
financial products and services can help you achieve financial security and provide you with the quality
of life you require as an expatriate or international investor.
Investing in international accounts is no longer the premise of the rich and famous; all expatriates
living abroad may now enjoy flexibility, among other benefits, by investing their money overseas. The
offshore financial industry has become more popular and financial institutions from around the world
have entered the offshore market as a result of the high demand. There are now many providers that
offer a broad range of services ranging from saving schemes to pension and retirement plans and wealth
management accounts to lump sum investment products.
Over the years, deVere has developed strong partnerships with some of the world’s leading investment
houses and insurance companies, all of which offer some of the most competitive products in the
marketplace and a high level of protection for the investor.
In this guide, we provide you with essential information on Qualifying Non-UK Pension Schemes
(QNUPS). QNUPS is the latest tax efficient pension scheme for expatriates which was introduced
in 2010. We will explain what they are, what benefits they have to you as an expat and why they are
essential in planning for your beneficiaries upon your death.
What are QNUPS?
Pension schemes and effective retirement planning are essential for those who choose to relocate or
retire abroad as financial independence is of paramount importance. Pensions which are frozen within
the UK have been transferred into a QROPS schemes for the past few years, and now the introduction of
QNUPS promises another potential tax efficient way to enjoy your pension.
Qualifying Non-UK Pension Schemes (QNUPS) were bought into force on 15 February 2010 by
HMRC, creating further opportunities for British expatriates to become more tax efficient on local taxes
and inheritance tax (IHT).
QNUPS allow individuals to keep investing their money into the scheme after they have taken their
lump sum, for as long as they wish to. This defers from a QROPS where once you have taken the lump
sum you will receive an income from the fund that is left.
Guide To Investing In QNUPS

3. Upon you death, the funds and assets you have left within a QNUPS become free of inheritance tax,
allowing your beneficiaries to receive the money or possessions you wished them to receive. There is no
maximum age to which you are able to invest in to a QNUPS.
What are the advantages of QNUPS for
expats?
QNUPS hold great advantages to those who invest within them, including that the fund is immediately
free of inheritance tax and other local taxes that you could potentially have been liable for.
Other advantages of QNUPS include:
• There is no maximum age in which you can invest within the scheme
• You do not need to receive income from employment to make a contribution
• There is no maximum limit of what you can invest into the scheme
• It is potentially very tax efficient and in most countries you are able to avoid local wealth taxes
• QNUPS avoid local laws on death duty, meaning you are able to choose who inherits your money
• Assets will grow free from tax
• You can hold both a QNUPS and QROPS but no reporting responsibilities are held unless the
QNUPS scheme holds assets from both.
QNUPS and Inheritance Tax (IHT)
Inheritance Tax is usually paid on somebody’s estate when they die. It will also include the gifts and
trusts made during that person’s lifetime. Typically, it is the executor or personal representative’s
responsibility to pay inheritance tax using funds from the deceased’s estate.
Usually inheritance tax is only due if the deceased’s estate is worth £325,000 or more, or £650,000
for married couples or those in civil partnerships. The estate includes houses, possessions, money and
investments. The rate of IHT will depend on the type of investments and assets you hold and the country
you lived in when you died, but can be as much as 40%.
However, if you were to invest within a QNUPS these assets become immediately free of inheritance tax
if you are living overseas, as well as other death duty charges which may be applicable in the country
you live in. This will make the heartache of losing a loved one easier for your family as they will not
have to face potentially heavy taxes.
Pension and retirement solution with a
QNUPS
QNUPS could potentially hold a valuable solution for your pension when moving abroad. It is important
that you remain financially independent and are able to pass on your wealth as you wish. A QNUPS
scheme allows you to do just this.
At the deVere Group, our consultants work with some of the leading investment houses and insurance
providers. All our employees have been trained to provide the best advice and are familiar with the local
knowledge and requirements of the region you live in/may relocate to. We can advise on the different
options that may help you maximise your wealth in order for you to look forward to a more secure
financial future.
If you would like to speak to a financial consultant about QNUPS, please contact us at
info@devere-group.com.
The advice we provide is free and without obligation.
Guide To Investing In QNUPS

4. www.devere-group.com
invest@devere-group.com
The companies below are part of the deVere Group:
deVere and Partners (UK) Ltd is authorised and regulated by the Financial Services Authority (469151).
deVere Recruitment Ltd (503055) are an appointed representative of deVere and Partners (UK) Ltd.
deVere and Partners Investment Services (Pty) Ltd is an Authorised Financial Services Provider in South
Africa.
deVere and Partners (Belgium) BVBA is authorised by the Banking Finance and Insurance Commission
(CBFA) in Belgium and registered on the intermediaries register under number 61476, category insurance
brokers. The following group of companies operates under the same license in Belgium:
- deVere and Partners (Cyprus)
- deVere and Partners (Belgium) Limited BVBA, succursale Luxembourg S.a.r.l.
- deVere and Partners Spain, S.L.
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