The green light from Gibraltar’s Financial Services Commission allows Boal & Co to replace its external trustee model with an in-house version.
Mark Doyle, QROPS sales manager for Boal & Co, said the move will ultimately make its processes more efficient.
“We envisage that this move will further bolster our Gibraltar QROPS proposition. In addition, we now have two staff members on the ground in Gibraltar, and have subsequently moved some of the QROPS jobs from Isle of Man out to Gibraltar”, he said.
In 2013, Boal & Co launched its first Gibraltar QROPS after “extensive research” to give advisers multi-jurisdictional choice for their clients.
The Trafalgar Pension Scheme, which was tax approved by the Gibraltar Commissioner of Income Tax and registered with HM Revenue & Customs in the UK, offers both standard and ‘lite’ options.
The addition of a Gibraltar QROPS restored the multi-jurisdictional aspect to Boal & Co’s QROPS range, which had previously included a Guernsey-based QROPS, and sits alongside the Select plan, the firm’s existing Isle of Man QROPS.
