British expats can easily invest in residential property through a new offshore pension scheme called a QNUPS.

The trust-like tax wrapper also does away with the problem of offshore pension funds being subject to UK inheritance tax rules.

Any expat with a QNUPS can now leave the balance of any pension fund remaining on their death to their family or loved ones without fear of a cash grab by the UK taxman regardless of residence and domicile.

But because the scheme does not have to report to HM Revenue and Customs unless assets are transferred from a registered UK scheme, like the other official UK offshore pension scheme called a QROPS, all the problems of holding residential property in a pension are removed.

The legislation lets UK expats or overseas nationals with UK pension rights invest in to a pension scheme at any age with no top limit.

Add to that benefits like no obligation to buy an annuity or alternatively secured pensions (ASP), no maximum contribution threshold and no requirement to have earned income from an employment.

A QNUPS also holds the flexible tax and investment benefits of other offshore pensions, like a QROPS (qualifying recognised offshore pension scheme).

Investments are available in more assets and markets.

Investments and cash drawdowns can be made in a number of major currencies to hedge against exchange rate fluctuations.

A QNUPS can also be established in a stable, low tax jurisdiction regardless of where the pension member lives.

A qualifying non-UK pension scheme was established in February by a new statutory instrument and is a perfectly legal trust structure for retirement and estate planning approved by UK law.