British expats residing in Albania or who wish to retire in Albania can now transfer their pension into a QROPS Albania to maximize pension tax relief. UK expats living or working in Albania can take advantage of their offshore status and move their UK pension offshore to somewhere safe like the Isle of Man or Guernsey and don鈥檛 need to pay UK taxes on their pension David Ortiz Jersey , so long as they stay offshore.
Albania is a parliamentary democracy with a transition economy. The Albanian capital, Tirana, is home to approximately 600,000 of the country’s 3,000,000 people. Free-market reforms have opened the country to foreign investment Jim Rice Jersey , especially in the development of energy and transportation infrastructure. Albania was chosen as the top country in Lonely Planet’s list of ten top countries to visit for 2011.
The communist regime collapsed in 1990, and the Republic of Albania was founded in 1991. The old communist party was routed in the elections of March 1992, amid economic collapse and social unrest. An economical crises spread in the late 1996 following the failure of some Ponzi schemes operating in the country, peaking in the 1997 in an armed rebellion, that led to another mass emigration of Albanians, mostly to Italy Ted Williams Jersey , Greece, Switzerland, Germany and to North America.
In 1999 the country was affected by Kosovo War, when a great number of Albanians from Kosovo found refuge in Albania.
Albania became a full member of NATO in 2009. The country is applying to join the European Union.
Why live or retire in Albania?
More than 190 Brits live in Albania. The climate on the coast is typically Mediterranean with mild, wet winters and warm, sunny Boston Red Sox Jersey , and rather dry summers. The three largest and deepest tectonic lakes of the Balkan Peninsula are partly located in Albania. A variety of unique flora and fauna can be found there, including “living fossils” and many endemic species. The large majority of the population is ethnically Albanian. Minorities include Greeks, Slav-Macedonians, Bulgarians, Gorani, Vlachs Darren O'Day Jersey , Montenegrins, Serbs, Balkan Egyptians, Roma and Jews. The official language is Albanian. 70% of Albanians are Muslims, 20% Orthodox Christians, and 10% Roman Catholics.
QROPS Albania. Pension Tax Relief
What are the benefits of a QROPS Albania Pension Transfer for UK expats?
鈥?Avoid UK income tax
鈥?Avoid UK dividends tax
鈥?Avoid UK capital gains tax (CGT)
鈥?Avoid UK inheritance tax (IHT)
鈥?Currency choice. You can choose to have your pension transferred to a QROPS denominated in USD Zach Britton Jersey , EUR or keep it in GBP
鈥?Have the ability to make higher returns with freedom of investment
鈥?Family Protection: Upon death, the entire pension pot gets passed on to your nearest and dearest
鈥?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 Albania?
A Qualifying Recognized Overseas Pension Scheme (QROPS Algeria) 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 five years of living offshore, the reporting requirements to the Inland Revenue cease.
If you are currently live in Albania, you can take advantage of your non-UK address in order to transfer your UK pension into a QROPS to avoid more UK taxes down the line.
In relation to Richard Malpass
Richard Malpass is mostly a financial advisor from the uk who has lived abroad for those past 14 years. QROPS Specialists provide pensions recommendations for UK expats that happen to be living abroad or thinking of retiring abroad in the future. We help our clients to scale back their liability to ENGLAND tax Mark Trumbo Jersey , move their pensions into the currency of their personal preference and maximize the growth with their pensions.
WASHINGTON, Dec. 20 (Xinhua) -- China is not seeking global dominance and "we don't think there is a zero-sum game between China and the United States," said Cui Tiankai, Chinese Ambassador to the United States, here on Wednesday.
Cui made the remarks in an interview with CNN two days after the Trump administration released its first national security strategy, touting its "America First" doctrine and naming China and Russia as "rival powers" challenging American influence and interest.
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Cui said that the China-U.S. trade relationship has become increasingly connected and interdependent, and both economies and the peoples have benefited from it.
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