MC Trustees launch QROPS in Malta
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MC Trustees Limited is launching what it believes is the first QROPS based in Malta.
The scheme, which has been accepted by the HMRC as a QROPS, will initally have its administration outsourced to MC Trustees in the UK with the Malta company, MC Trustees (Malta) Limited, taking over as soon as possible.
Both the scheme and the company will be audited by Pricewaterhousecoopers. The scheme will also offer a wrap platform which will enable assets to be managed online.
Managing director Martin Cadman says: “We believe that we are the first company to get approval for such a scheme established in Malta. Malta is a full member of the EU and anybody who transfers to our scheme will have the benefit of all the protections afforded by EU legislation.
“We have a maximum charge of €5,000 per annum, irrespective of the size of the fund, and think that this makes us very competitive for larger funds.”
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Readers' comments (3)
Anonymous | 23 Apr 2010 3:14 pm
Custom House Global Fund services got HMRC approval yesterday for their Malta QROPS
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paul | 4 May 2010 12:10 pm
High end market is very crowded with providers and low on clients-you won't have much to do.
Suggest you cut the fees. Opening a bank account and sending a statement each year does not really justfy 5,000 euros a year.
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Jack Spack | 5 May 2010 1:37 pm
wont be long till the QNIPS and NIPS are in place with malta as well
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