Are You Thinking of Moving To Brazil?
Known for its beautiful beaches and its warm tropical clime, Brazil presents a compelling choice for vacationers as well as pensioners planning their retirement home. The largest Latin American country as well as the fifth-largest country in the world, Brazil takes up most of northern portion of South America. This federal constitutional republic was formerly a colony of Portugal, and Portuguese is the official language of the country. Brazil boasts a strong economy, which stands as the sixth-largest in the world based on Gross Domestic Product.
Due to its geographical size, there are a number of climate variation throughout Brazil. Although the general climate can be described as tropical, different regions, because of their topology, can see ranges of cool to very hot weather. In the north, which is near the equator, the weather is consistently warm and rainy, with temperatures averaging about twenty-five degrees Celsius. In the central portion of the country, the rain is limited to certain parts of the year. In the south, the climate is more dry and can even experience long periods of drought.
The economic powerhouse of Latin America, Brazil’s economy is mixed and supported by the country’s vast supply of natural resources. Boasting a solid export business, Brazil provides its trading partners with such goods as airplanes, cars, the petroleum additive ethanol, shoes, iron, and, famously, coffee. Tourism also makes up a substantial part of Brazil’s economic strength. Brazil’s culture is predominantly based on its Portuguese heritage, but is also influenced by immigrant cultures as well. These influences can be seen in Brazil’s art, literature and cuisine.
Most of Brazil’s population lives in the eastern part of the country. Most of Brazil’s populace acknowledges European origins, while there are significant communities of African, Asian and Native American ethnic groups, and many are combinations of these who call themselves Brown. Immigration plays a major role in the makeup of Brazil’s population, and the country is fairly welcoming to newcomers.
If like many you have decided to retire in Brazil or you are living and working in Brazil with no intention of moving back to the UK then your UK pension maybe better off invested in an offshore QROPS .
QROPS Brazil 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 Brazil, 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 Brazil
- Anyone who has built up UK pension benefits and is now resident or looking to become resident in Brazil
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 Brazil enquiry.