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
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