Monday, 27 February 2012

Bankers Salaries - Are They Really Too Much?

Some Banking Bonuses Will Be Spent On An Overseas Holiday Property
 HSBC are expected to announce an annual profit of some £14 billion any time now - over US $20 billion.

And with the announcement will come a lot of comments in the media and on many a blog that the bonuses paid are excessive - some reports indicate a bonus of over £10 million can be expected for HSBC's CEO - and that this isn't right in today's economic climate - some will say even during good times it's not right - and that the profits are obscene.

But maybe the amount of profit is a good thing - and the bonuses awarded to many at HSBC are justified?

IF HSBC have made such a good profit - isn't that good given that a lot of the banks are still in debt to the taxpayer? It shows they know what they're doing, and if the banks that had to be bailed out followed what HSBC has been doing that debt could be paid off - leading to more money available for government to increase public expenditure or cut taxes, depending on your point of view as to which would stimulate the economy most.

And assumedly if the reports of a £14 billion profit are accurate, HSBC would be paying corporation tax running into billions - money that can be spent on schools and hospitals, or allowing the government to borrow less on the markets? With income tax and National Insurance being paid by thousands of employees on top of the corporation tax, shouldn't we be celebrating rather than deriding the profit made?

As for the salaries and bonuses, it could be argued that the banks making losses still shouldn't be paying these - but why shouldn't HSBC? If someone gets a multi-million bonus why shouldn't he or she be able to buy themselves a villa on the Algarve or a property in Monaco?

How do the salaries of bankers and those working in the City of London and Wall Street compare to sports people? Premier League soccer players in England are often on a few million a year, as are baseball and American footballers in the U.S.

But if a player doesn't perform well in a game, are they told by the fans that they should forfeit their wages that week? And if he is below par for the whole season will the fans demand that his salary be cut? Moved on to another team perhaps, but no question about his salary being paid back.

For loss making banks the argument could be made that no bonuses be paid and their salaries reduced, but surely not for HSBC and their staff?

For more analysis of whether bankers and city workers deserve their salaries visit this Monaco blog

Thursday, 16 February 2012

Something Different For Holidays This Year

The trend for holiday bookings this year so far is for people to book later, often within six weeks of leaving for the trip, no doubt influenced by the economy and the hope of picking up a good price late deal from one of the travel companies.

And given the state of the economy, it's most likely that people will be booking a hotel.

The thought of a villa holiday while nice, will have to wait for another day, this isn't the time for luxury.

But this isn't necessarily true. On our last post we looked at villa holidays in Tenerife and how some villa owners will be offering late deals to try to get their occupancy level up to a point where they can cover the maintenance and any mortgage they might have taken out.

For families a villa holiday, especially one that's got at a late offer price, can work out cheaper than booking two hotel rooms, with the added advantage in a villa of a lounge area, couple of bathrooms, an equipped kitchen and an outside area that will often include a private pool and garden.

To read more about how a villa holiday can work out better on price and be a better family holiday than a hotel one, visit this villa blog

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Sunday, 12 February 2012

Villa Owners Have A Difficult Year Ahead

Have you ever been on a villa holiday?

If so, the chances are that the villa you stayed in was rented through an agency - but the villa is nearly always owned by a private individual.

The owner has often bought the villa so he or she can retire there later on in life, or spend a good part of the year there at least, and rents it out to cover a part mortgage, maintenance, etc.

And this normally works well.

Search for Tenerife villa holidays for example and up will come a choice of those available via specialist agencies and private owners.

Holidaymakers get to spend time in great accommodation, the agency make some commission and the owners make some money to keep the property in good shape, pay a mortgage and if they're lucky have some left over.

But during a recession this arrangement can become unstuck. If a villa isn't rented out many weeks the owner could have difficulty keeping up with the financial side of things, and if the property isn't maintained the agency might drop letting it out, if they get receive poor reviews.

The upside is that for those who want to rent the agencies and owners are more likely to cut the rental costs down to get occupancy, and some money at least.

There's an article that goes more into this, and also the benefits of a villa holiday compared to a hotel one - to read it click through to this villa holiday blog

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Lanzarote - A Great Island For A Spa Day While On Your Villa Holiday

Spa holidays are one of the fastest-growing travel industry niches. What better place to take one

Saturday, 11 February 2012

British Public Hypocrisy Over Tax?

We say British because the blog we have seen refers specifically to a survey undertaken in the UK

British Families Spending Less Time And Money On Holidays In 2012

The banks and governments weren't the only ones not to see the writing on the wall in the last couple

Getting Married In Monaco

Some couples are content to tie the knot at the courthouse down the road. But for those who are more adventurous

International Property Tribune Limited

Property, Residency And Banking In Andorra And Monaco

Friday, 10 February 2012

Tax Havens Welcomes New Business For 2012

Andorra la Vella
The tax haven of Andorra has just started to welcome new and establshed businesses to establish themselves in the Principality.

Up to now anyone wanting to start a business or relocate their exisiting one to the Principality had to have an Andorra partner - and for many entrepreneurs the thought of not being able to go it alone was understandably off-putting, especially when the new partner was become part of the company not through merit but because the law stated you had to have one.

It's all part of the country trying to attract inward investment.

The economy is tourism driven - by ski holidaymakers - and in the last three years the number of people taking winter holidays has fallen, and subsequently the Andorra economy has been hit.

Other changes are in the pipeline, including the qualifications for residency. Up to now it was pretty much a case of renting or buying an Andorra property and the government is currently looking at changing this.

More details are available at this Andorra blog

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Thursday, 9 February 2012

Gran Canaria Map - For visitors to the Canary Islands map of Gran Canaria

There's three main areas people stay while on their holidays on the island.

Harry Not Guilty

Former West Ham and current Tottenham manager Harry Redknapp has been found not guilty on all charges of tax evasion related to his Monaco bank account.

Wednesday, 8 February 2012

Tuesday, 7 February 2012

Monday, 6 February 2012

Saturday, 4 February 2012

Andorra Centre Of Mountain Holidays

Activity holidays both organised and independently planned have been increasinging in popularity over recent years

Wednesday, 1 February 2012

Win A Trip To Monaco - Five Available

The Daily Telegraph in the UK have five trips to Monaco available for giving advice on the following destinations: