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Why is an offshore ‘USA friendly’ QROPS

product in the Channel Islands, Isle of Man or

Malta not a viable alternative?

These arrangements may offer a slightly enhanced

tax-free cash lump sum (for example you can take

30% as a tax-free lump sum in the Isle of Man).

However, since neither the Channel Islands nor the

Isle of Man have a tax treaty with the USA, it is

possible that the USA authorities would treat such

arrangements as a Passive Foreign Investment

Company (PFIC) investment and your lump sum

would then be taxed by the IRS.

Malta does have a tax treaty with the USA and a

small number of ‘USA friendly’ QROPS plans have

been launched on the back of this. Nonetheless,

AMVEST, with an annual Trustee charge of less than

£500 per annum and low annual fund management

charges, still represents much better value for

money.

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Where will my adviser be based?

Unlike a QROPS plan, where you have to deal with

an offshore agent thousands of miles away, AMVEST

gives you access to the services of an authorised

and registered investment adviser in the United

States.