TheFinanceGuy

Hi Amfoz, Just wondering if you progressed any further with Taylor Brunswick? I mentioned on another thread that these pension providers place themselves in offshore countries such as Hong Kong, Dubai, UAE due to the lack of regulations. This is usually a huge red flag in terms of what quality of advice you will receive. There advice always follows the same route - transfer to a SIPP with an insurance bond to hold the investments. The insurance bond is not required and will pay the adviser an upfront commission that you will pay over the lifetime of the bond. Given you are 55 in 5 years time, this is not appropriate. I know of a few companies in Australia that are licensed in both the UK and Australia and can assist you at this stage (i.e. with the investment of funds with a view to transfer this to Australia once eligible) and also assist with the transfer of your funds to Australia at age 55. Regardless, before proceeding with any company, I would urge you to ensure they are licensed and regulated in the appropriate jurisdictions, so you have recourse/protection should the advice that is provided, clearly not be in your best interest. As such, ensure licensed in both the UK (due to UK product) and Australia (as you reside here).

Hi Stephen, What makes you believe that AHR Wealth Management are bona fide? I can see from their LinkedIn page they are based in Dubai and do not have an office in Australia. This is a huge red flag. These 'providers of cross border solutions' usually place themselves in countries such as Dubai, Hong Kong, UAE due to the lack of regulations. In terms of providing advice should you decide to stay in Australia, I almost guarantee they cannot assist with this, as I do not believe they are licensed to provide advice in Australia. Which also means they are not regulated. In my opinion, this company does not look legit and I can predict the advice you will receive. They will recommend a SIPP, with some insurance bond within this to hold your investments. The insurance bond, not only is it not required, but will pay the adviser an upfront commission - that you will then pay over the lifetime of the bond. I completely agree with the above. If you have been cold called in regard to this (usually finding your details on LinkedIn, with a link to the UK), be extremely careful.

No movement from June 2020. Still 'received'. Congratulations to all those that have received their grant recently. Do not want this to come across as bitter, but does anyone understand how this process works? I understand those who's occupations are on the priority list have been granted visa's relatively quickly, however, I am seeing occupations not on the list, being granted before me despite applying after? I assume its a combination of things, with luck also being at play. Would just be nice to hear some explanation on how it works. It is extremely deflating not having any idea as to what is going on and not being able to answer any questions. Visa - 186 (TRT) - over 4 years on 457 (now on bridging visa), 2 years on 417 Occupation - Financial Investment Adviser State - NSW No of applications - 1 and onshore. Country - UK Really do not understand it. I have been in Australia for nearly 7 years now, I have bought a property here, have an Australian partner. Yet, if someone in my family in the UK get sick and I leave.. I will struggle to get back in the country. Fingers cross for some news (any sort of news would be fine), soon.

Cannot agree more with Andrew. Please do some extensive research (and look for reviews) prior to engaging with DeVere. If your ultimate plan is to retire in Australia, then this should be a considered in regard to the advice you receive in relation to your husbands UK pension, especially given the favorable tax treatment of super (among other benefits). Rule of thumb - if you receive advice that recommends an International/Expat SIPP with a investment bond inside of this and no extensive analysis on what a transfer to Australia would offer - be extremely careful.

Congratulations Frederick! My timeline is extremely similar to yours, yet, my status is still 'received' Visa : 186 TRT (4 years on 457) (2 years on 417) Visa Applied - 15 JUNE 2020 Onshore : Yes State: NSW No. of applicants : 1 Occupation: Financial Investment Adviser s56 Request for More Information: 15 June 2020 Medical: 20th June 2020 Visa Status - RECEIVED As others have mentioned, very frustrating as it does seem there is no real process/priority for the majority of people, it is just the luck of the draw. Anyway, hoping for some good news/any sort of update before the new year!

As others have pointed out, the 25% 'tax free' lump sum is only for those that are UK residents. Although there is a double taxation treaty between the two jurisdictions, this does not cover lump sums. That being said, there is a specific way to release a portion of this tax-free element upon a transfer to Australia. The 25% lump sum will crystallise the pension and as such, you will not be able to make partial transfers from the fund. There are SIPPs out there that can effectively be split to make a transfer above the $300,000 threshold possible. It is also important to know that there is tax on transfer to Australia. This is on the assessable fund earnings from an individuals Date of Arrival to Australia, to when the funds are transferred over. This does not count towards the $300,000 cap. As per the above, given AESF are the only retail QROPS provider, I would assume there is no motivation to reduce ongoing fees. An SMSF should be considered in certain circumstance.