Isle of Man based fiduciary services provider Abacus and a Guernsey based trustee firm Carey Group have joined forces to launch a new Malta domiciled QROPS product, the Falcon Plan.
The new Falcon Plan QROPS has currently received approval by the by the Malta Financial Services Authority (MFSA) and has been listed as a QROPS or Qualifying Recognised Overseas Pension Scheme having been approved by the HM Revenue & Customs in UK.
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The Falcon Plan is designed to be flexible yet fully compliant and written in accordance with Maltese legislation. It is designed to allow maximum flexibility within the appropriate pension rules, is principally available to individuals who have left the UK permanently, those in the process of leaving the UK permanently and Maltese residents.
Abacus Corporate Services is licensed by the MFSA as a retirement scheme administrator and will be acting trustee and scheme administrator to the Falcon Plan, providing retirement administration services to its scheme members.
DPZ Capital in Jersey has been appointed to supply an investment solution, although other solutions may be available.
The Falcon Plan is an individual pension arrangement which gives its members the ability to retain the freedom of investment and control enjoyed in their existing SIPPs and SSASs.
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By GlobalDataGarry Crossan, CEO of ACSL said: "We look forward to providing a range of retirement solutions to the international expatriate community via our partner networks; the Falcon Plan represents the first initiative".
Tim Bush, director at Carey Group said: "We are delighted that a QROPS solution is once again available for the expat community and pleased we are able to facilitate this in conjunction with ACSL in Malta".
