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hong kong scheme removed from

24 Jul 13

A QROPS recently launched in Hong Kong has been removed from HM Revenue & Custom’s list of registered schemes.

A QROPS recently launched in Hong Kong has been removed from HM Revenue & Custom’s list of registered schemes.

The product, called the GFS Superannuation Scheme, was launched by Global Fiduciary Solutions at the end of last month.

The GFS Superannuation Scheme was only the second Qualifying Recognised Overseas Pension Scheme of this kind to be made available to investors from Hong Kong.

The company structured the pension under Hong Kong’s Occupation Retirement Scheme Ordinance a regulated retirement regime which is available to residents and non-residents of the jurisdiction.

However, the scheme only appeared on HMRC’s list of registered schemes twice and was not apparent on the list published on 15 July.

GFS chief executive Simon Harrall said he is currently in discussions with HMRC to rectify the situation and is hoping the scheme will be back on the list shortly.
 

Tags: Qrops

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