Uk Pension Fund To Finance Property Purchase

[roog]

I'd like to transfer my UK pension funds into a SIPP invested in Thai property - specifically some land, a house on it to live in and a small resort on same land. Does anyone have any experience of this - is it possible etc etc ? I'll be asking my UK IFA for advice too.

[chiang mai]

I'd like to transfer my UK pension funds into a SIPP invested in Thai property - specifically some land, a house on it to live in and a small resort on same land. Does anyone have any experience of this - is it possible etc etc ? I'll be asking my UK IFA for advice too.

I'd like to transfer my pension into a bar/restaurant in Koh Samui or a go go joint in Pattaya and never pay tax again! But I think you'll find that you can't buy property for inclusion into a SIPP outside of the UK. Also, the tenant must pay the SIPP holder/policy a fair rent, regardless of who owns the SIPP.

Edited April 21, 2007 by chiang mai

[Khun Bob]

mmmhhh - but if you have a uk company that owns or invests in the pataya go go bar, could the SIPP provide money to this UK company ? (with creative accounting returns of course...)

[briley]

Think that Brown fella said you can't use pension funds for property, after first saying it was possible he decided you shouldn't put your pension into second homes in the sun.

[jbaldwin]

The SIPP would be a foreign entity and therefore cannot own land in Thailand under the foreign ownership rules.

[smilingjim]

I'd like to transfer my UK pension funds into a SIPP invested in Thai property - specifically some land, a house on it to live in and a small resort on same land. Does anyone have any experience of this - is it possible etc etc ? I'll be asking my UK IFA for advice too.

I'm sure your IFA will tell you this is a non-starter! Please remember most UK IFA's have a lot of knowledge about UK laws etc. but very little about offshore matters.

Must be UK COMMERCIAL property.

Would need a lot more info to give best advice: age, nationality, how long in thailand, residence position, how long staying in Thailand etc. etc.

If you are now resident in Thailand you could do the following:

1) transfer your pension fund offshore with Royal Skandia or similar. Lots of flexibility and access to some of the funds.

2) if you are over 50 you may have the option of taking 25% of your funds value in cash and transfering the balance into an offshore fund.

As another poster has said you couldn't own the land in Thailand - you'd have to lease it. There are lots of postingson land ownership in Thailand.

Basic advice: if you can't afford ot lose it don't do it! Especially when yo uare talking about your pension fund!!

[roog]

thank folks I missed that about turn by Brown since my last chat with my IFA and I take the advice about affordability of losing it all! Being over 50, I know can take the 25%.