QROPS Paraguay. Pension Tax Relief British expats living in Paraguay or wishing to retire in Paraguay can now transfer their pension into a QROPS Paraguay to maximize pension tax relief. UK
expats living or working in Paraguay can take advantage of their offshore status
and transfer their UK pension offshore to somewhere secure like the Isle of Man
or Guernsey and will no longer have to pay UK taxes on their pension if they
stay offshore.
Paraguay
Wholesale Detroit Lions Jersey , officially the Republic of Paraguay is a landlocked country in South America. It is bordered by Argentina to the south
and southwest, Brazil to the east and northeast, and Bolivia to the northwest.
Paraguay lies on both banks of the Paraguay River, which runs through the center
of the country from north to south. Due to its central location in South
America, it is sometimes referred to as Coraz?n de Am?rica
Wholesale Green Bay Packers Jersey , or the Heart of America.
As of 2009 the population was estimated at 6.3 million. The capital and largest city is
Asunci?n. The official languages are Spanish and Guaran?, both being widely
spoken in the country. Most of the population are Mestizos. The Guaran? have
been living in Paraguay since prior to the arrival of Europeans in the 16th
century, when Paraguay became part of the Spanish colonial empire. Paraguay
gained independence from Spain in 1811.
Why live or retire in Paraguay?
Only 330 Brits are estimated to live and work in Paraguay. The terrain consists of grassy plains and wooded hills in the east. To the west,
there are mostly low, marshy plains. The local climate ranges from subtropical
to temperate
Wholesale Houston Texans Jersey , with substantial rainfall in the eastern portions, though becoming semi-arid in the far west. The population is made up
of Mestizos: 74.5%, Whites: 20%, Mulatos: 3.5% and Indigenous Peoples: 1.5%.
Nearly all Paraguayans speak Spanish. Various poverty estimates suggest that
30-50% of the population is poor. 10% of the population controls 66% of the
land, while 30% of the rural people are landless. This inequality has caused a
great deal of tensions between the landless and land owners.
Several popular dishes contain manioc
Wholesale Indianapolis Colts Jersey , a local staple crop similar to the yuca root found in the Southwestern United States and Mexico, as well as other
indigenous ingredients. A popular dish is sopa paraguaya, similar to a thick
corn bread. Another notable food is chipa, a bagel-like bread made from
cornmeal, manioc
Wholesale Jacksonville Jaguars Jersey , and cheese. Many other dishes consist of different kinds of cheeses, onions, bell peppers, cottage cheese,
cornmeal
Wholesale Kansas City Chiefs Jersey , milk, seasonings, butter, eggs and fresh corn kernels.
QROPS Paraguay. Pension Tax Relief
:
What are the benefits of a QROPS Paraguay Pension Transfer for UK expats?
??Avoid UK income tax
??Avoid UK dividends tax
??Avoid UK capital gains tax (CGT)
??Avoid UK inheritance tax (IHT)
??Currency choice. You can choose to have your pension transferred to a QROPS denominated
in USD, EUR or keep it in GBP
??Have the ability to make higher returns with freedom of investment
??Family Protection: Upon death
Wholesale Los Angeles Chargers Jersey , the entire pension pot gets passed on to your nearest and dearest
??Security: The pension is held in a secure jurisdiction such as Guernsey or the Isle of Man which is under the protection
of the British Crown, but has its own strong financial regulations which are tax
efficient
What is a QROPS Paraguay?
A Qualifying Recognized Overseas Pension Scheme (
QROPS Paraguay[i]) allows your UK pension to be transferred offshore to reduce your tax burden. Effectively, you will no longer pay UK tax
on your pension whilst you are offshore and after 5 years of living offshore,
the reporting requirements to HMRC cease.
If you are living in Paraguay at the moment, you can take advantage of your offshore address in order to move
your UK pension into a QROPS to avoid further UK taxes down the line. A QROPS is
the perfect vehicle to avoid UK taxes if you are considering living or retiring
abroad.
What is the economy like in Paraguay?
Landlocked Paraguay has a market economy distinguished by a large informal sector Wholesale Los Angeles Rams Jersey , featuring re-export of imported consumer goods to neighboring countries, as well as the activities of thousands of
microenterprises and urban street vendors. Between 1970 and 2009 the country had
the highest economic growth of South America, with an average rate of 7.2% per
year and the prospect of 9% annual growth from 2010, being the highest in South
America. The country also boasts the third most important free commercial zone
in the world: Ciudad del Este, trailing behind Miami and Hong Kong. A large
percentage of the population Wholesale Miami Dolphins Jersey , especially in rural areas, derives its living from agricultural activity, often on a subsistence basis. Because of the
importance of the informal sector, accurate economic measures are difficult to
obtain. On a per capita basis, real income has stagnated at 1980 levels. The
economy grew rapidly between 2003 and 2008 as growing world demand for
commodities combined with high prices and favorable weather to support
Paraguay’s commodity-based export expansion. Paraguay is the sixth largest soy
producer in the world. Drought hit in 2008 Wholesale Minnesota Vikings Jersey , reducing agricultural exports and slowing the economy even before the onset of the global recession.
In 2010, Paraguay experienced the greatest economical expansion of the South American
countries with a GDP growth rate of 14.3%. It is set to grow at 5.6% for 2011.
The economy comprises agriculture: 20.2%, industry: 18.7% and services: 61.2%
(2009 estimate)
QROPS Paraguay. Pension Tax Relief [/i]
[i]Do I need to move my pension to Paraguay?
No. Your pension can be transferred to a secure jurisdiction such as the Isle of Man or Guernsey where
it will be out of the UK tax system and your pension will be paid gross and grow
tax free.
Do I need to live and retire in Paraguay?
No, you can live anywhere offshore. As long as you are ou
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