Are You Thinking of Moving To Argentina?
Famous for the Broadway musical Evita, Argentina is the largest hispanic country in the world. Located on the west coast of South America near Chile and Brazil, Argentina’s economy is the third-largest of any Latin-American nation. Considering its high per capita income and the confidence the nation maintains with foreign investors, Argentina is a promising destination for anyone seeking opportunities in a new country.
Argentina boasts a climate that is primarily temperate, though there are extremes such as its subtropical regions in the northern part of the country and a subpolar climate in the south. The northern regions are hot and humid during the summer, and the area sees plenty of rain. During the winter the north tends to be cooler and drier with considerably less humid. Similarly, the central portion of the country tends to be hot and wet during the summer with regular occurrences of thunderstorms, while the winters tend toward cool weather. Heavy snowfall characterizes the winters of the south, but summers can still be fairly warm.
Natural resources backs Argentina’s robust economy, followed by a strong agricultural industry and a solid industrial base. Known as an emerging market, the country makes most of its money in manufacturing, while exports are based on its agricultural sector. Food processing is a prominent business in Argentina, followed by the production of automobiles, steel, farm machinery and household appliances. The culture of Argentina is highly influenced by its European heritage, mixed with its Native American roots. The country has a rich heritage exemplified in its art, music and literature.
Argentina has the third-largest population in South America, with the median age of a citizen at around 30. Largely viewed as a country of immigrants, only the United States received more immigrants each year than does Argentina, making the country an popular choice for pensioners looking for a place to retire.
If like many you have decided to retire in Argentina or you are living and working in Argentina with no intention of moving back to the UK then your UK pension maybe better off invested in an offshore QROPS .
QROPS Argentina could save you tax.
QROPS that are based in an offshore jurasdiction may provide up to 30% of the QROPS Pension fund as a tax free cash lump sum compared to only 25% in the UK.
In addition QROPS will allow for benefits to be received in a bank account of your choice in all major currencies including local currency unlike a UK pension.
You will also avoid paying UK tax and only pay tax locally in Argentina, whereas in the UK 20% tax is taken at source.
Benefits of a HMRC recognised QROPS
Income payments are paid gross and not subject to 20% income tax at source as in the UK.
On death 100% of the remaining fund is passed to your named beneficiaries and not subject to 55% tax as in the UK.
Wider investment choice enabling you the opportunity to invest in global assets.
Who is eligible for QROPS ?
- A UK national moving to Argentina
- Anyone who has built up UK pension benefits and is now resident or looking to become resident in Argentina
As QROPS experts QROPS-advice.net can provide you with all the help and guidance you may need. Contact us today to see how we can help with your QROPS Argentina enquiry.