Wednesday, 21 September 2011

Value for Money


I was recently posed an interesting question by one of my readers.

‘David, can you please recommend someone who can give the best and cheapest advice about……..’

The problem is that the best advice is not necessarily the cheapest and the cheapest advice may not be the best. In my view the answer is value for money.

You would be surprised how many times I hear the expression ‘I was told that…….’. What usually follows is either wrong or some local popular myth.

Whether it’s QROPS, QNUPS, taxes in Spain, property regulations, residency and many more, myths and inaccurate information abounds.

I will never deviate from my belief that professional advice is always best.

Apart from owning property in Spain for nine years and struggling to find professional advice, in the last year my Blog has lead me to many professionals. If you need advice, please email me.

My own connections included the following professionals;

  • Regulated financial advisers
There are many people and organisations who call themselves ‘financial advisers’ without any qualifications and no regulatory body such as FSA (UK) or DGS and CNMV (Spain). I will only recommended regulated and fully qualified advisers who’s services I have checked.

Value for money comes from a clear declaration of commissions and charges in an open and honest way. Hidden charges and undeclared commissions should always be avoided. For a referral to a suitable adviser, please email me.

  • Suitably qualified accountants and professional lawyers
Both the Institute of Chartered Accountants and the Law Society have qualified professionals working in Spain. Whilst you may have a good local source for advice, the professional standing of these people cannot be denied. If you need a referral, please email me.

You are further protected as all qualified professionals will carry ‘Professional Indemnity Insurance’ (PI) just in case anything goes wrong.

Unless your situation is very complex, I would expect most professionals to give you an estimate of costs upfront.

  • Chartered surveyors in Spain
Similarly, I can recommend UK qualified Surveyors.

  • Estate Agents
This is an area of service which is by definition very local. You could already know of a local estate agent with a good local reputation. If this is not the case I can recommend you to a Member of the Association of International Property Professionals.

  • Company formation for property ownership
This is a very specialised service and is often used to save on Spanish Inheritance Tax (ISD). There is a service on my blog under the heading ‘Check your Spanish Inheritance Tax Liability’ to the right of this article.

The service involves the formation of a UK company to own a property in Spain. It involves UK law for the formation of the company and Spanish contracts, translations and knowledge of Spanish law. For this reason, the company concerned has offices in both UK and Spain.

  • Foreign Exchange
I set up La Torre Fx – Foreign Exchange with the specific objective of beating the banks. This is a service and it is worth checking out, with easy access on the right of the blog.

La Torre Fx – Foreign Exchange is linked to a highly professional ‘trading platform’ provided by FTT Global. All of the necessary regulations are in place;

Key Facts about FTT Global:

·         Registered in the United Kingdom - Company Number 5685288
·         Regulated by FSA - Registration Number 503228
·         Regulated by HMRC - Registration Number 12231114
·         Registered for Client Data Protection - ICO Number Z9470988
·         Underwritten by A Rated Insurer
·         Corporate Bankers - Barclays Bank PLC
·         Start trading at https://www.fttcurrency.co.uk/fpspain.jsp


If you email please let me know your question and where you live. I may be able to answer myself, just point you in the right direction or refer you to a suitably qualified person.

For more detailed reading you may wish to look at previous posts to my Blog




Please remember that my Blog is about unbiased, factual financial information. You can look elsewhere for information but remember that an advert will certainly biased towards the company who paid for it. I have no problem with that but remember it’s biased!

David Goodall
Financial Pages in Spain