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Sips for Canadians?
innovate101
Posts: 1 Newbie
I left the Uk in 1997 and have a pension fund in a uk based insurance company worth 60 k. Am I able to transfer this to a sip even though I am resident in Canada? Also, if this is possible can i use part of this fund to buy commercial properety in canada?
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innovate101 wrote: »I left the Uk in 1997 and have a pension fund in a uk based insurance company worth 60 k. Am I able to transfer this to a sip even though I am resident in Canada?
YesAlso, if this is possible can i use part of this fund to buy commercial properety in canada?
May be possible, but best to check with a reputable SIPP provider that does CP such as https://www.ajbell.co.uk
It may be that the costs and complexity of a foreign property investment are such that the admin costs of the investment will eat excessively into profits.Trying to keep it simple...
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If you did not transfer this to an immigrant trust you may now want to transfer to a QROPS. First however you need to take advice locally on on the current Canadian tax implications.0
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