Before introducing this article, if you are interested in our core services which are expat financial, insurance and mortgages, you can contact me here. 

The best time to consider your financial situation is when you are moving to a new country.

Introduction

One of the most common questions in the minds of most people around the world is that “Can a person who is not a resident of the UK be able to have a SIPP?”. 

Before we get to that, we must actually know what exactly a SIPP means. In layman’s terms, SIPP (Self-Invested Pension Plan) is a personal pension scheme that allows an individual to invest money towards their retirement plan.

With the help of a SIPP individuals not only get to decide about the investments specifically intended for their retirement, but they also get to have access to a wide range of investment options.

SIPPs come with the same benefits and drawbacks as most other pension plans available in the UK, yet the major difference is that such types of pension plans come with limited opportunities for investments.

Through a SIPP, individuals are allowed to choose the funds they want to place as a part of their investment portfolio, or just keep it in the form of cash or cash-related instruments.

These wrappers containing one or more investment funds often follow a set of predefined rules, just like any other pension scheme.

Pension plans vary based on their uses and types such as defined benefit schemes, salary schemes, QROPS (Qualified Recognised Overseas Pension Scheme), etc.

Most people who regularly follow the content on our website are familiar with some types of pension schemes, especially QROPS that are tailored particularly for people living outside of the UK.

In the UK, the pension schemes come with certain tax benefits contrary to the traditional savings instruments, yet these pension schemes would have to abide by the rules set forward by HMRC (Her Majesty’s Revenue and Customs).

These rules determine how these pension schemes should function, and how they can be utilized by the people. In the same way, a SIPP also abides by the HMRC and functions in the exact same way.

Similar to most other types of pensions, the funds in a SIPP are free from income tax and capital gains tax.

This means that when you invest money, your SIPP would be usually topped by 20% by the tax authorities, and if you are paying higher taxes or additional taxes, you can claim another 20% to 25%.

The money that is being held with the help of a pension is generally made available to the individual after he or she reaches the age of 55 years, yet the rules might differ depending on the scheme.

When you want to take your funds from your pension, you can take a lump sum amount, which is usually tax-free for an amount of up to 25%. Or else, you can take the money in your pension in the form of regular monthly payments.

It should be taken into careful consideration that any sort of income that has been withdrawn from a pension scheme is usually noticed as income and would be taxed according to the income tax rates.

Therefore, if you decide to withdraw money from your pension plan, then you must do so by seeking the advice of your financial advisor so that it can be done in the most efficient way (in terms of taxes).

Who runs it? – It is not an investment so that it can be run by some fund manager or anyone else, as the investor (trustee permitting) is responsible for the decision of choosing funds.

In simple terms, it is recommended for you to choose SIPPs only when you have a considerable amount of knowledge regarding investments or at least a good understanding of the same.

Also, an investment can go both ways, meaning you can profit from it or experience losses. Worst case scenario is that it is even possible for you to lose all the money you’ve invested.

What we suggest is that investing for retirement is generally a long-term goal in the case of most people and it is better to opt for a conservative investment strategy for such people.

A SIPP can be managed with the help of a mobile phone or post, yet most people nowadays are opting for a secure online account to access it.

With the help of an online account, it is possible for you to purchase or sell your investment assets while having a dashboard that consists of all the data regarding your investments.

You can even track the performance of your assets with the help of these online accounts, just so that you stay updated on the details of your investments.

SIPPs couldn’t be managed effectively by expats or international clients as much as they are managed by UK residents because of the necessity for being more thorough, as required by the trustees of the SIPP.

The process on how you might want to manage your SIPP might result in additional fees and charges as well.

With the help of a SIPP, you can be able to invest in a wide range of asset classes such as domestic stocks, foreign stocks, ETFs (Exchange-Traded Funds), Bonds, Cash, etc.

Fees and Charges – when compared with most other pension schemes available to individuals, SIPPs often come with lower costs that usually comprise of the following.

• Account Set-Up Fees (around £500)

• Annual Management Fees

• Ongoing Fees

• Exit Fees

• Income Drawdown Fees

Depending on the SIPP provider, these costs may vary for each individual. Just like searching for a good bank or credit card, it is wise to compare a few options before selecting a SIPP provider.

It is very important that you know about all the charges involved with SIPPs because sometimes you might end up paying a significant amount of money.

Usually, the SIPP charges are more than what you usually pay for stocks and shares ISA or a traditional fund and share account. Some of the common types of charges involved with SIPPs are as follows:

• Platform fees:

In most cases, platforms charge a fee for your pension funds, which can either be a percentage of the overall assets held in the account or a flat monthly fee.

Some people might know these platform fees through other names such as service charges, administration charges, custody charges, etc., and might vary in different situations.

In some cases, these platforms reduce the fees of the people who intend to invest a huge amount of money.

In some other situations, the first fraction of the investment is charged a higher amount in the form of fees, and after that, the fees would be lowered. Or else, the charges would be the same across the entire pot having a lower amount of fees.

For instance, the fees can be around 0.5% for the pensions that range up to £50,000 and then lowered to 0.3% for an amount exceeding that.

In the second scenario, the firm might charge you 0.3% on the entire portfolio where the amount exceeds £50,000, but some other firm might charge 0.5% on the first £50,000 and 0.3% thereafter.

In some specific cases, firms choose not to charge individuals when they invest in stocks, while some others charge fees. Those firms that charge fees will cap those charges up to a certain level of your portfolio.

• Dealing charges:

As discussed, most SIPPs don’t charge individuals for trading investments assets like unit trusts and open-ended investment companies.

However, when you choose to invest in stocks or shares, or investment trusts from your pension funds, there usually would be a cost per trade. This cost per trade might generally be reduced for investors who make more than a few trades on a monthly basis.

Therefore, when you intend to trade shares on a regular basis, the dealing fees are something that you should always look out for. There might also be a possibility of additional fees for fund management switches.

It is better to opt for a platform that doesn’t charge you such additional fees, especially you want to trade regularly.

• Transfer fees:

In the last few years, a lot of platforms have stopped charging individuals for transferring their existing pension funds to another platform.

Despite that, some platforms still charge a considerable amount of fee (as much as £25 per holding) to transfer your assets such as stocks or funds to another platform.

When you transfer in this way, you can avoid the hassle of selling the existential units re-buy them. Moreover, some platforms even charge fees for the transfer of cash to another platform, which is rather inconvenient.

• Early-closure fees

When you want to close your pension within a year of opening it, then you might be charged with early-closure fees.

This can be most commonly observed in the situations where the individuals open a SIPP and then start their retirement within a year or so and start drawing down their pension funds.

What most people might not know is that these fees can range around several hundreds of pounds, and therefore, it is better to know more about these charges as well.

• Phone trading:

Making a trade with the help of a phone call while talking to another person of the firm might result in a lot of additional fees than you might anticipate.

In some cases, the fees might even be charged as a percentage of the trade, which would later turn out to be expensive, especially when you are making a large trade through a phone call.

How to pay – there is a wide array of options available for you to fund your SIPP account, which is mostly simple and hassle-free.

As simple as it gets, you can fund your SIPP with the help of other pensions, regular money payments, or lump sum payments into your account.

If you want to opt for transferring via your pension, you must consult your pension provider and your financial advisor. Not only would there be penalties for exiting from these, but you might also have to deal with potential losses.

How do I get the money? – After you reach the retirement age, you would want to withdraw the funds that are available within your SIPP.

To do so, there are various options available to you just as any other pension scheme, which depends on your situation.

Until 2015, most people would go with purchasing annuities as they offer guaranteed income for life.

But in 2015, there were some changes made to the pension regulations, and the amount that used to be paid by annuities also decreased. After that, annuities lost their reputation as a preferred choice among most SIPP holders.

Another option is to withdraw lump sum amounts from the pension, which sounds good, but you must be familiar with the fact that pension is treated as income in many countries and taxed in the UK along with an individual’s country of residence.

This means, the PCLS (Pension Commencement Lump Sum) of 25% that is not taxed in the UK, would be subject to taxes in the country of your residence.

It is very important to get acknowledged about the ways of accessing pension funds in a tax-efficient manner.

Now, let us talk about the main topic for today, i.e., “Can you open a SIPP as a non-UK resident?”

SIPP for non-UK residents:

The SIPP that is accessible by non-UK residents is known as an International SIPP, which is almost the same as SIPP but is based outside of the UK.

Instead of being available in just a few places, people can access an International SIPP from various places in the world.

One thing you must remember about the international SIPPs is that they might not be as safe as the SIPPs because SIPPs in the UK are insured for an amount of up to 85k and are regulated by the FCA.

However, this does not mean that you are invincible because if you choose a bad advisor to take care of your investments, then you might end up losing money.

The international SIPPs also come with regulations, yet they might not be as effective as the traditional SIPPs based in the UK.

Major advantages of International SIPPs – Some of the most advantageous features of international SIPPs are as follows.

• Tax-free gains

• Wide range of investment opportunities

• People can have all of their pensions in one place

• Ability to list a beneficiary

• Availability of multiple currencies

When you opt for investing in a SIPP, the capital gains arising from those investments are generally free from the income tax and capital gains tax.

Additionally, you will be having availability for a wide range of investment opportunities allowing you to reach your full potential while coping with your risk tolerance.

If you follow our strategy of long-term investments and conservative investment strategy, then your investments would be in a safe place while securing your future with guaranteed returns.

One of the biggest benefits of a SIPP is that expats can put all their pensions in a single place without having to face any sort of difficulties.

The regulations make it a tad bit hard for individuals to transfer their final salary to a SIPP, but the process of transferring other pensions is a comparatively simple process.

This is a viable option for keeping all your investment assets in one place while being able to track them easily.

Given below is a table that consists of the top international SIPPs and their respective fees.

Transferring into an international SIPP – Like mentioned earlier, transferring money into an international SIPP is a very simple process and can be done while acquiring the help of an advisor or you can do it by yourself.

In order to have an international SIPP, you must contact your current provider and find the details regarding the surrender charges.

After making sure that there are no surrender charges, you can open an account with the platform, request for a transfer, and select the type of investment asset in which you want to put your money.

During this process, you would usually be asked to sign and provide certain types of documents such as:

• Income source

• Source of wealth

• Identity proof

• Financial statements

These are the general steps involved while making a transfer into an International SIPP. However, if you choose to transfer with the help of your advisor, the process will differ a bit.

Firstly, you would be necessitated to provide a letter of authority for checking the amounts related to the pension.

Just like earlier, you must make sure that there are no surrender charges. Complete all the necessary documents such as identity checks and source wealth.

Determine your risk profile, select the assets that you want in your portfolio, and finally, you can request a transfer.

The process might vary a bit or involve some additional steps, but nevertheless, these are the main steps involved with making a transfer into an International SIPP.

Don’t worry if you aren’t working along with a financial advisor as of now, you can get access to the top-notch financial solutions offered by us, and for that, all you have to do is click here.

If you work with an online advisory, you can just go ahead and complete the process by submitting copies of the documents online. Regardless of the country you live in, you can acquire an international SIPP.

Choosing the right SIPP – when you feel that you are ready to have an international SIPP, it is very crucial for you to select the perfect investment platform based on your requirements.

Some of them offer the very cheapest SIPPs, which are very affordable and preferred by most people. By selecting such SIPPs, you will only be provided access to a limited range of investments.

Bigger firms allow you to have access to a wide range of asset classes such as funds, stocks or shares, etc.

Finally, if you need access to a full range of investment assets that are allowed to be kept in a SIPP by the taxman, you need to select ‘Full SIPPs’.

Tips to consider – here are some useful tips for you to follow while setting up a SIPP.

• You must know everything about the potential advantages and disadvantages of having a SIPP.

• Double-check whether a SIPP is right for you.

• Know about all the options available for you, regardless of whether you are an expat or a UK resident.

• The most important thing to do is to know about all the fees and charges involved with SIPPs because there are various types of fees/charges depending on the platform you choose.

• Don’t just go ahead with the SIPPs that have been offered to you by the people, whom you didn’t contact. Individuals who make cold calls can often mislead you regarding the information, or they might even scam you.

• Retirement planning is a long-term strategy, and therefore, you must not worry about the surges and falls related to the prices of your investment assets.

Bottom Line:

Investing money can be as hard as choosing the right type of SIPP, and when you don’t have enough knowledge regarding these types of pension schemes, you might end up losing a significant amount of money in the form of taxes, fees, and other charges.

Make sure that you always consult a financial advisor before you make any decisions related to the important aspects of your life such as pension schemes, retirement planning, investment management, etc.

If you aren’t currently having a financial advisor or investment planner to take care of your financial needs, you can obtain the best-in-class financial solutions that we offer.

We offer all the services you need for planning your retirement or selecting a pension scheme that is tailored for your investment goals and financial objectives.

You can also learn the process of investing through our ‘Adam Fayed Academy’ and start investing on your own.

That being said, we hope that this article came in handy for you to find all the relevant information about having a SIPP as a non-UK resident.

Before introducing this article, if you are interested in our core services which are expat financial, insurance and mortgages, you can contact me here. 

The best time to consider your financial situation is when you are moving to a new country.

Introduction

Before we get into the details of our topic, i.e., ‘UK SIPP for US citizens’, let us have a look at some of the important information regarding the general definitions and other important aspects.

SIPP – So, what is a SIPP? Well, ‘SIPP’ is an abbreviation for the Self-Invested Pension Plan. These happen to be one of the best savings accounts in the United Kingdom for people who want to contribute towards their retirement in a tax-efficient manner.

Yes, a pension plan also serves the same purpose, and therefore, you might be wondering what makes SIPPs more unique.

While saving money for retirement purposes, one of the major aspects that need to be considered is selecting the right type of pension plan that suits you.

You can either go ahead with a traditional pension plan or you can choose to invest/save with the help of an aforementioned ‘SIPP’, which is generally offered by an investment platform or a SIPP provider.

In the olden days, people would have to save their funds using a traditional pension plan, which has been changed now.

Nowadays, personal pensions (SIPPs) are offered access to a wide range of investments, offering more flexibility among assets in which you can be able to invest.

Even though some other types of pensions offer accessibility towards several types of investments, SIPPs allow an individual to have access to even more investment opportunities.

For instance, a person can invest directly into shares listed on a stock exchange (and even some shares that are not listed) with the help of a SIPP.

SIPPs are approved by the UK’s ‘Her Majesty’s Revenue and Customs (HMRC)’, which is a non-ministerial government branch responsible for collecting taxes and some other sorts of payments.

Some of the approved investments in which an individual can be able to invest with the help of a SIPP are Stocks, Mutual Funds, Bonds, ETFs, etc.

Similar to the 401(k) plans in the United States, SIPP plans were introduced so that people can have an alternative to the defined-benefit pension plans provided by employers.

How do they operate – To compare some operational procedures of a SIPP, let us have a look at the pension plans available in the United States.

In the US, there are two types of pension plans offering two different sorts of benefits.

The first method is where a person can invest money and have no taxes on the profits, while there would be taxes on withdrawals. We can take the traditional IRAs and 401(k) accounts as examples for this scenario.

There is another method where a person would be subject to taxes on their invested money, yet they won’t have any taxes on the profits or withdrawals. Roth IRAs and Roth 401(k) accounts are an example of this.

However, the SIPP does not opt for any of such methods and has its own set of tax benefits. Meaning, when a person opts for a SIPP in the UK, then he or she can get tax relief of 100% of their earnings for an amount of up to £40,000 per year.

This tax relief is offered to the investor in the form of a refund, which is contributed towards their pension. Let us see an example.

Let there be a person known as ‘George’ and he pays a basic rate of 25% while contributing an amount of £10,000 towards his SIPP.

By doing so, George will get a refund of £2,500 from the HMRC, which is generally deposited directly into the SIPP account George.

However, George can get such benefits only up to an invested amount of £40,000. Upon exceeding £40,000, George would no longer be eligible for the tax relief.

Fees – Just like any other type of investment account, one should pay attention to the fees involved with investing in SIPPs. SIPPs charge fees based on varied factors, and therefore, it is very important to know how you would be charged.

Usually, SIPPs charge fees, which are as follows:

– A flat annual fee

– Percentage of the portfolio value

– Account set up fees (usually around £500)

– Trading charges

– Some other sorts of fees like exit fees and withdrawal fees

It would be ideal to choose a low-fee option instead of one charging higher fees because it could lead to losses when it comes to profits of a long-term investment.

For example, a person who has a portfolio consisting of a higher value should go ahead with a flat annual fee instead of an annual percentage fee.

People who invest in a SIPP can either manage their SIPP on their own or they could acquire the services of a professional investment planner like us.

People who get involved with a self-invested pension plan can withdraw their funds after they reach the age of 55, even though they haven’t retired. Out of these funds, 25% is considered tax-free income, whereas the rest is charged with taxes while being considered as income.

Noticeably, the funds can become free from the UK capital gains and income tax. Ultimately, the tax benefits depend on the specific circumstances of the individual.

Types of SIPPs – There are different types of SIPPs, from which an investor can choose one based on his/her advantages.

• Full SIPPs:

Full SIPPs come with maximum choices of investments for individuals. Nevertheless, they come with hefty account set-up fees and annual charges and are considered to be beneficial for people who have significantly larger pension funds or interests in commercial investments.

Along with these, a person would be required to pay additional fees known as ‘Independent Financial Advisor’s (IFA) Fee’, which is a one-time fee.

There might be some other types of uncommon fees charged for dealing with a commercial property.

Not only that, but fees are applicable when there is an In-specie transfer, where the investments are transferred directly to the scheme instead of selling the assets and investing the acquired cash.

The average amount invested in this type of SIPP is between £150,000 to £450,000.

• Lite SIPPs:

Lite SIPPs are not as effective as Full SIPPs, yet they offer several investment choices. However, the major difference is that individuals cannot invest directly in a property, and they can’t buy unlisted shares.

Lite SIPPs have been made popular by Hargreaves Lansdown, James Hay, Stanley Direct, Barclays Stockbrokers, and AJ Bell.

Typically, Lite SIPPs are ‘execution only’, which means a person won’t be able to acquire investment advice from the institution that is offering them. Moreover, people who opt for Lite SIPPs won’t be having a necessity for an IFA.

The average amount invested in this type of SIPP is usually around £50,000.

Key aspects – Just as it is for most other types of personal pension plans, you won’t necessarily have to live in the UK to be able to take part in a SIPP.

Nonetheless, some important things are to be considered if want to invest in a SIPP even though you are not living in the UK.

First of all, you should know that SIPPs are held within the UK, and hence, the investments, as well as the payments, should also be made in UK’s currency, i.e., GBP (£).

This generally means that when you are a person living overseas and wish to withdraw your funds from a SIPP, then you would be liable to fluctuations in currency exchange rates.

It is generally important to know this information and plan your retirement based on the amount fluctuations that may be involved with currency exchange.

However, if you are from the UK and wish to retire abroad or if you are a resident of another country who doesn’t want to get involved with the UK except for the SIPP, then you can opt for alternatives like QROPS.

QROPS comes with the same set of benefits and allows an individual to invest and withdraw using various types of currencies.

Apart from that, one of the major benefits of investing from abroad is that, when the price of the pound decreases, the amount invested by you in another currency would tend to have an increase.

You should also be aware that your SIPP is in the UK, and it would be subject to the rules and regulations made by the UK Government.

For example, the Government of the UK reduced the allowance for Lifetime Pension Allowance and made it £1 million while it used to be £1.5 million.

Another aspect to be considered is the withdrawals from a SIPP. As we already said, only a 25% pension commencement lump sum is allowed, and people would be subject to taxes for withdrawing the remaining funds.

This situation gets worse for the people who are not living in the UK as they would be subject to taxes again in their country of residence. Therefore, you should get tax advice from your financial planner before things get messy because of taxes.

Lastly, we must talk about the financial advice you acquire while investing in a SIPP. Why? Well, people who invest in a SIPP as an expat or while living overseas usually seek financial advice from an expert based in the UK.

Such an advisor may or may not be aware of existing opportunities available for expats or those living overseas.

When you wish to obtain financial advice from a professional located in your country, then the advice acquired may not abide by the FCA regulations and lower the protection levels of an individual.

We suggest that you opt for an international investment planner like us, who can assist you with such crucial requirements and allow you to invest in a SIPP while having the best possible strategy for your requirement.

We don’t force you to acquire investment advice from us, yet what we offer makes us stand out among other competitors. Let us have a look at the services we offer to you regarding your SIPP.

– We let you understand all the potential advantages and drawbacks of a SIPP.

– We determine your financial situation and determine whether SIPP can be a good choice for you.

– We conduct extensive research and provide you with the best options available, whether you may be an expat, or foreigner, or a UK resident.

– We provide a detailed list of the costs and commissions related to your SIPP and then explain them to you in case you are not familiar with them.

– We even offer services related to portfolio creation and investment management, and therefore, you can manage all your financial needs with the services obtained from us.

– Sit back, relax, and invest in whatever strategy you are interested in, or you can let us do that for you.

One of the huge drawbacks of SIPPs is that your current employer won’t be obliged to contribute towards your SIPP and usually won’t do so under any circumstances.

Not only that, but you cannot be able to transfer your current pension plan into a SIPP while working in the current company.

UK SIPP for a US citizen:

While discussing UK SIPPs for a US citizen, we must pay a lot of attention to the taxation.

If you are a US citizen, then you must already be aware that the United States opts for a citizenship-based taxation system. This means any type of income earned overseas by the citizens is subject to taxation by the Federal authorities.

However, most people also familiar with the information that the income has arisen on some types of retirement funds that are subject to preferential tax rates.

So, it is common to have confusion about whether foreign retirement funds come with preferential tax treatment or not. Well, don’t worry. We are here to help you by providing the necessary information regarding these aspects.

To begin with, let us talk about the scenario for people who are US expats living in the UK, who invested in a SIPP.

There is a tax treaty between the countries USA and UK, which means people won’t be taxed twice for the income they earned while living as an expat in the other country.

This tax treaty determines the details of taxes, i.e., which tax should be imposed by which nation. Any of the income that hasn’t been discussed in the tax treaty is liable for taxes in both countries.

Even though your pension plan is considered a retirement plan according to its design, it would only be protected by the tax treaty when it is wrapped as a pension plan in the UK. For that, the SIPP has to abide by certain types of rules and regulations.

Although your SIPP is covered under the tax treaty, you will have to determine whether you want to claim protection under the tax treaty. Only then, your investments and profits would be free from taxes until distribution.

If you are not able to claim protection for your SIPP, then your contributions and profits are necessitated to be reported to the relevant tax authorities. However, you can claim a Foreign Tax Credit on the taxes imposed on you in the United States.

Therefore, you should very careful while dealing with such things and should be aware that the tax treaty won’t be able to lower your taxes by a great extent.

In most cases, SIPPs are considered grantors trusts and you would be subject to additional reporting. By reviewing forms ‘3520’ and ‘3520 a’, you could know whether the additional reporting process is necessary for you or not.

Lastly, your SIPP can include Passive Foreign Investment Companies (PFICs), and if that’s the case, you will be required to do some additional reporting.

Nonetheless, the Treasury Department has issued some specific regulations that exclude PFICs in your SIPP from such types of hassles. This would apply even when you do not come under the protection of the tax treaty.

Having discussed the situation for US expats living in the UK, now we will discuss the important information concerning taxes for withdrawals in the United States.

As usual, even when you are withdrawing your funds in the United States, you can get up to 25% of the funds in your UK SIPP tax-free.

Why? Well, the double taxation treaty between these countries declares that the funds from a UK pension plan withdrawn by a US national are only subject to taxes in the USA.

That too, the 25% lump sum is exempt from any type of tax in the US. Other taxable income is to be declared to the IRS.

Transferring into a 401(k) plan – Another aspect to consider over here is that a person could not be able to transfer their UK pension into a 401(k) pension because of the rules set by HMRC.

An alternative for that is to transfer your pension into another UK pension scheme, for which, the process is very simple and there are no tax implications.

UK SIPP for a US citizen – For the people (other countries’ residents), who have worked in the UK for a specific period, there is a possibility of accumulating a private pension in the UK. In such cases, the pension plan can be transferred according to the pension freedom act.

– For those who are still living in the UK, this can be transferred into a SIPP

– For those who are living in the EEA (European Economic Area), it can be transferred into a QROPS (Qualifying Recognised Overseas Pension Scheme) with a Malta trust.

– For those who live in any other country, in this instance the USA, this can be transferred into an International SIPP.

An international SIPP is the same as the UK SIPP while being specifically designed for the people who no longer live in the United States.

Almost all the features are the same such as flexibility of withdrawals starting from an age of 55, regulated by FCA, best protection for your investment assets, etc.

The only major issue here is that most institutions offering SIPPs won’t accept US citizens to have a SIPP because of the complexities such as additional reporting that are required by the IRS.

However, we are saying that most institutions won’t offer, yet there are some providers available that offer SIPPs for US citizens. While choosing a provider, a person should be attentive to the cost, reputation of the provider, and the services.

An international SIPP (iSIPP) is often considered to be the best option for people living outside of the UK or EU. With the help of an iSIPP, a person gets access to a wide range of investments including those provided below.

– Cash

– Deposit Accounts

– Exchange Commodities

– Listed Shares

– Fixed-income assets like government/corporate bonds

– Mutual Trusts

– Mutual Funds

– Investment Trusts

– REITs (Real Estate Investment Trusts)

– Commercial Property Investments

– National Savings Funds

– Alternative Investments

While creating a portfolio, it is highly recommended that you should be highly attentive to the asset allocation and do it based on factors like risk tolerance, your age, your wealth, investment strategies, etc.

If done hastily, investments could lead to potential risks where you might even be subject to huge losses including loss of capital.

It is best to opt for a personal investment planner like us to take care of all your needs regarding portfolio creation and investment management.

Coming back to the iSIPPs, retiring outside of UK while you used to be a UK resident could pose many problems including currency exchange risks. iSIPPs allow you to invest in many types of assets with the advantage of many currencies.

The effect of currency exchange flexibility and a good investment choice would allow you to have robust returns on your capital, which would come in handy during your retirement.

For more information on International SIPPs, you can click here.

Now you know how to have a UK SIPP as a US citizen/resident. However, we haven’t discussed who are the best providers for choosing an iSIPP. Therefore, let us have a peek at some of the top iSIPP providers available.

Given below is a table that consists of the data regarding the best iSIPP providers.

Bottom Line:

Finally, you are now aware of the details regarding how you can have a SIPP while being a US citizen/resident.

However, that’s just not it. You must have a professional financial advisor to help you with the investments available within an iSIPP.

For that, you don’t need to search elsewhere because we offer you the best financial services that are not only related to an iSIPP, but also related to general financial planning, investment management, and wealth management.

However, if you want to opt for the services of a financial advisor somewhere else, then no problem. You must, however, consider choosing the best professional based on aspects like fees, reputation, etc.

If you are a person busy with your daily activities and don’t have enough time to take care of your investments, then we got you covered. We have been in the industry for quite some time and have been helping individuals by providing them with various financial and investment services.

So, if you want to acquire the best-in-class financial services offered by us, then click here.

That being said, we hope that this article came in handy for you in finding the necessary information for which you have been searching. We also wish you nothing but the best with all your investments while having maximum returns.