QROPS by Country: Where Transfers Are Possible and Why Jurisdiction Matters

Information only. Nothing on this page constitutes financial, tax, or legal advice. The rules described here are based on information available at the date of publication and can change. A qualified specialist can help you assess your individual position.

One of the most common misunderstandings about QROPS is that it is a single product you can take anywhere. It is not. Whether a transfer is even possible, and whether it is sensible, depends heavily on the country involved, both where you live and where the receiving scheme is based.

This article explains why jurisdiction is the first question, not the last. For the underlying mechanics, see our QROPS rules guide; for the wider overview, start with the QROPS for expats guide.

Why Country Comes First

Two rules make the country question central:

• The same-country exemption. The main way ordinary expats avoid the 25% Overseas Transfer Charge is for the individual and the receiving QROPS to be resident in the same country at transfer. That immediately ties the decision to where you actually live.
• HMRC recognition is country-by-country. HMRC maintains a list of schemes that have notified it they meet the QROPS conditions, organised by country. The list changes over time, and schemes can be removed. A jurisdiction that looks viable today may not be tomorrow.

Put together, this means the realistic options depend on whether qualifying schemes exist in, or are accessible from, your country of residence.

Your Country of Residence May Not Have a Local Scheme

This is where expectations and reality often part company. Some popular destinations simply do not have a deep pool of locally based QROPS, which can make the same-country exemption hard to use.

• Germany, for example, is a country where UK nationals frequently ask about QROPS but where qualifying local schemes are limited. Many people enquiring about "QROPS Germany" find that a local transfer is not straightforward, and that leaving the pension in a UK structure is often the more practical route.
• South Africa has its own pension and exchange-control landscape, and the interaction with UK transfer rules needs specialist input rather than assumptions.
• The UAE and other Gulf states are common bases for UK expats, but the absence of a local income tax does not by itself make a QROPS transfer worthwhile, and the receiving jurisdiction still matters.

The honest takeaway is that the country you live in may narrow your options considerably, and sometimes rules a same-country transfer out altogether.

The October 2024 Change for the EEA and Gibraltar

A significant recent change affects expats across Europe. In the October 2024 Budget the government removed the exemption that previously applied to transfers to QROPS based in the European Economic Area or Gibraltar. For transfers made on or after 30 October 2024, those destinations no longer benefit from automatic exemption, so an exemption must otherwise be met or the 25% charge applies. Because this is recent, current specialist confirmation is especially important here.

Popular Receiving Jurisdictions

Historically, a relatively small number of jurisdictions have hosted the bulk of QROPS arrangements, often chosen for scheme maturity, regulation, and treaty networks rather than for where the member happens to live. Jurisdiction selection affects:

• the regulatory regime and protections that apply to the scheme,
• the local tax treatment of pension income,
• succession and beneficiary rules, and
• political and currency stability over a multi-decade horizon.

None of these should be assessed from a brochure. The right jurisdiction for one person can be the wrong one for another with a different residence, fund size, and timeline.

What This Means in Practice

Before anyone discusses a specific scheme, the country questions should already be answered: where you are genuinely settled, whether you expect to move within five years, whether a qualifying scheme is realistically available, and how your country of residence will tax pension income either way. Where those answers are uncertain, leaving the pension in the UK, or first consolidating into a SIPP, is frequently the more robust path.

Talk to a Specialist

QROPS decisions are jurisdiction-specific, and the right answer depends on your residence, your destination options, and your goals. We connect qualifying expats with regulated cross-border specialists who can assess what is actually available and appropriate for your country. Request an introduction, with no cost and no obligation.

QROPS transfers are complex and regulated. This article is for general information only and does not constitute financial or pension advice. Always seek independent specialist advice before making pension decisions.