It often comes as a surprise when people hear how easily they could become owners of a property abroad – and, to give just one example, when it could be in a sunnier clime such as the
This is a UK-based personal pension which provides much greater investment flexibility than a conventional pension plan, but retains all the tax advantages associated with them. Any type of pension can be transferred into a SIPP. For instance, many people have several frozen pensions from previous employment or businesses and/or personal pensions that they can transfer.
This then offers many attractive facilities, including the fact that a SIPP is allowed to borrow up to 50% of its net assets. So if a SIPP has total assets of £100,000, it can borrow up to £50,000. Hence, it could buy commercial property or land of up to £150,000. And if that property or land is overseas, the assets grow free of
Why invest in property or land? Well, consider the facts. The last decade has seen an over-reliance by fund managers on
Property and land are very different from ‘paper’ assets. They have a physical and tangible existence, and while values might rise or fall they are hardly likely to disappear overnight. In fact, it’s commonly acknowledged that for generations land has underpinned the wealth of many individuals, government bodies and corporate organisations.
In itself, a SIPP is a very simple structure. It acts as a wrapper for your investments and gives you the freedom to make your own investment choices. Having said that, professional advice is highly recommended when taking this step.
Life Time Independent