A QROPS is an overseas pension scheme that meets certain requirements set by HMRC.
A QROPS must have a beneficial owner and trustees, and it can receive transfers of UK Pension Benefits. QROPS came about as part of UK legislation launched on 6 April 2006. This was a direct result of EU human rights directive for the freedom of movement of capital and labour. It is essentially a trust or a contract based offshore pension. As such the tax residence of the beneficial owner or beneficiaries is critical, as some countries do not recognise trusts.