French Tax and QROPS

Update:

 

 

It is vitally important to understand how different jurisdictions define residency for tax purposes before undertaking a pension transfer to a qualifying recognised overseas pension scheme.

French residency is determined in several ways.

  • Your main home is in France
  • You spend more than 183 days in France per year. (French tax year is same as calendar year)
  • Your occupation is principally in France
  • Your main income is derived in France
  • You hold most of your worldwide assets in France

Income from any QROPS is liable to French income tax in full.

 

Gerard Associates Ltd. Financial Advisory Services does not provide individual tax advice, and nothing contained in this briefing should be construed as such. We make every effort to ensure the accuracy of the information but cannot be held responsible for any liability arising.

It is essential that all clients seek tax advice specific to their own personal circumstances with the relevant tax professional of the jurisdiction(s) in which you are liable to tax.

This has been prepared based on our understanding of current legislation and tax practice as at the date above. However, these are subject to change, and may result in income tax consequences different from those detailed below.

We cannot accept responsibility for its interpretation or any future changes to law.