My WordPress Blog Sat, 08 Jun 2019 10:54:44 +0000 en-US hourly 1 Can We Still Take A Foreign Currency Loan | Credit Online Sat, 08 Jun 2019 10:54:44 +0000


Loans in foreign currency were very popular a few years ago. They were extremely profitable. However, we all know that due to economic changes and the ubiquitous financial crisis, these loans began to get more expensive and interest in them fell. Now, when the situation begins to stabilize many people think back about the foreign currency loan. Are banks willing to provide them?


In connection with what happened to the loans taken in Swiss francs and the entire affair associated with it, banks today are reluctant to grant loans in foreign currency. The options in this regard have been significantly depleted. The hardest thing is to get a foreign currency mortgage in our country. First of all, no bank in Poland will give us such a loan in Swiss francs for the reasons mentioned above. The only option is to take such a loan in euros or British pounds.


Who can take a foreign currency loan?

Who can take a foreign currency loan?

Due to large changes in the system of granting foreign currency loans in Poland, few people can get this type of support. It turns out that the Polish Financial Supervision Authority has issued a special communiqué related to currency loans. This message applies to taking out mortgage loans.

We can, of course, do it, but we must earn income in the currency in which we want to borrow. This regulation also applies to people who receive very large incomes. Thus, there are clearly visible exacerbations regarding foreign currency loans.


Profitability of foreign currency loans

Profitability of foreign currency loans

The regulations introduced by the Polish Financial Supervision Authority have meant that loans taken out in foreign currencies are only profitable for people working abroad. Only they can take out such a loan and calculate whether this type of solution is ideal for them.

First of all, it should be emphasized that such people are in a favorable situation because taking a loan in a foreign currency do not have to worry completely about the volatility of our zloty exchange rate. Talking about their currency risk is easier. It turns out, therefore, that a foreign currency loan is a very good idea if we earn in US dollars, euros or British pounds. You just need to find the right bank that will give us a currency loan under the best conditions.


Offers foreign currency loans


Offers foreign currency loans


Not all banks offer currency loans today. However, we can find several attractive options via the Internet. First of all, we have to take into account that such loans will have to be repaid up to 35 years. By default, however, the repayment period is 30 years in most banks.

It should also be taken into account that banks considering our loan application do not only take into account current earnings, but also predict how our financial situation will look in the future. As a result, we can not always count with a positive consideration of the application. They can only count on those who are stable in financial terms and this stabilization will continue for many years. Only then does the bank see us as a profitable customer.


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The Best Friend of Small Businesses Thu, 06 Jun 2019 11:13:48 +0000



When talking about robots applied to business management , we should not imagine a rolling entity with the appearance of R2D2 or a humanoid to the nice style of C3PO. In addition to advanced robotic arms that learn to collaborate with humans in the manufacturing industry, the use of robots in the company refers, in most cases, to the automation of processes through robotics ( Robotic Process Automation or, for their acronyms, RPA ). Therefore, you have to think about a “boring” but very useful software . We also have to flee from topics such as robots that are going to take jobs away from everyone or that will be the ones that quote for our retirement. The perspective is very positive and I would summarize it by saying that the robot is the best friend of the professional .

Robotic process automation pursues two key objectives: increase productivity and improve the customer experience. I do not think there are any entrepreneurs who think that their company is not big enough to improve both aspects efficiently. And, by the same token, robots are not the exclusive patrimony of large companies at all. Small companies are the big beneficiaries of robotics, precisely because they benefit from the fact that large companies have made investments that allow robotic suppliers to innovate and launch applications accessible to any size of the company.


RPA: levers to improve productivity

RPA: levers to improve productivity

Process robotics relies on a series of levers to improve productivity, mainly greater efficiency in the execution of repetitive tasks, which reduce the number of errors . Among these tasks can be found administrative human resources, financial, purchasing or systems. For this it is necessary that the tasks are defined as a process. You can start by automating a small part of the process, probably the most repeated, although the ideal is that robotization covers the processes from start to finish. This is the best way to release talent during the time employees spend on those routines, so they can focus on those other functions where they add value, especially to the customer.

Being a software , there are models of pay-per-use services ( Software as a Service or SaaS) accessible to the SME, as they are easy to implement and do not need a technological infrastructure. Business intelligence is one of the areas that is experiencing an improvement, since automated data collection is used to make forecasts, dashboards and business plans that, otherwise, would be very expensive to implement. Another possible application is the management of internal procedures, such as incidents that reach the systems department, whose automated treatment drastically reduces the time needed for staff. The same applies to the routines that the human resources department must carry out each time an employee joins or leaves.


Robotics for each function

Robotics for each function

A recent guide on RPA of the technological partner Ultima clearly shows the application of robotic automation of processes to the different functions of the company. This is the case of Systems or IT support , an area especially close to technology, with usually qualified personnel with special skills and training. However, in most organizations they devote excessive time to administrative tasks that have to be performed at least partially manually such as backups , diagnostics and system checks or patches in the programming to solve vulnerabilities or improve performance. Through the automation and integration of “digital workforce”, the talent of this area could be dedicated to business improvement and technological change management.

Something similar happens with the human resources department , where processes such as the reception and exit of employees usually involve several teams and in many cases, isolated processes are generated, with inefficiencies in the transfer of the task, which slow down the process and give rise to mistakes. With the digital “employee”, these processes can be automated from start to finish, freeing up team time to focus on improving quality in other aspects of the company. As a final example, the marketing and sales areas also benefit greatly from process automation, improving synergies between both areas and providing small businesses with a scalable capacity to reach customers and improve their experience.

Organizations around the world, no matter their size, face the need to manage change in the face of digital evolution, which requires a transformation in business models. According to a PwC study, almost three in four companies expect to increase their level of digitization by 2020 . For its part, Deloitte has noted a change in the motivation to adopt the robotization of processes: before, the main reason was cost reduction, while in 2018 most executives have declared to undertake this transformation to increase productivity and Improve the customer experience. Therefore, it is not a matter of displacing talent, but of companies maturing in the new economy. This year 2019 many more professionals will eat the nougat in their companies with their new digital partners!




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Getting an Apartment in a Mortgage on Shared Construction Fri, 03 May 2019 11:25:39 +0000



  • Getting an apartment in a mortgage on shared construction: the nuances and stages of the procedure
  • The legislative framework
  • Advantages and disadvantages of a mortgage on shared construction
  • Stages of the conclusion of the contract
  • Features of drawing up a contract of equity participation
  • Tax return on personal income
  • Requirements for obtaining a loan and choosing a bank


Getting an apartment in a mortgage on shared construction: the nuances and stages of the procedure


 Getting an apartment in a mortgage on shared construction: the nuances and stages of the procedure


Today, for the majority of the Russian population, the only acceptable option for acquiring their own homes is mortgage for shared construction. The main advantage of such a transaction is the long-term repayment of the value of real estate purchased with the help of an equity participation agreement. In addition, apartments purchased from the developer, much cheaper, which saves 25-30% of the average market price. What should be known and what nuances should be considered before taking a mortgage for shared construction? What risks are possible when taking a loan of this type?


The legislative framework


The legislative framework

The Federal Law “On Participation in Multiple Construction of Apartment Buildings and Other Real Estate Objects” regulates that when concluding such an agreement, an entity that buys an apartment in a mortgage acquires sole proprietorship and regulates public relations in the sphere of protecting the legitimate interests of participants in participatory construction.

According to the criteria of the contract, the developer undertakes to build an apartment building or other land plot within the agreed period of time, which is the subject of this transaction and transfer it to the full and sole ownership of the participant in shared construction, which, in turn, must be on time and in exhaustive scope. pay the stipulated cost.


Advantages and disadvantages of a mortgage on shared construction


 Advantages and disadvantages of a mortgage on shared construction


For the conclusion of a contract of this type, no guarantors are required, since the right of ownership of real estate, which will be acquired with funds received on credit, is used as a pledge.

At the initial stage of construction, you can choose the most suitable layout option for a future apartment, as well as its territorial location and the required size of the usable floor space.

mortgage loans

In contrast to the secondary real estate market, buying an apartment in a new building, the buyer frees himself from the risk of losing it due to debt, as well as from the need to collect a lot of documents for re-registration of property rights, which greatly simplifies the procedure of sale.

According to the cession agreement, you can assign the rights to the object of shared construction. Such a transaction allows you to delegate your rights to real estate to a sub-buyer, receiving cash in return.

The procedure of insurance of civil liability of the developer for improper fulfillment of obligations to the buyer is mandatory. The legal aspect of this issue is regulated by article 15 of the Federal Law under the number 214-F3.

The downside is that the borrower is not able to immediately move into an apartment, and also, in addition to the body of the loan, you have to pay interest.

Stages of the conclusion of the contract

 Stages of the conclusion of the contract

When taking a mortgage on shared construction, the algorithm of actions of the lending subject is as follows:

  1. Choosing the right apartment in the new building. You need to specify all the parameters of the property, the term of its construction and cost with the developer.
  2. Conclusion of an agreement on the reservation of the selected property.
  3. The calculation of the amount of the mortgage loan, the choice of the most attractive interest rate and terms of repayment of the loan.
  4. Collection of the necessary documents for the bank.
  5. Applying for a loan in the selected bank.
  6. In the case of approval of the application, the conclusion of the contract of equity participation with the developer for a particular property.
  7. Registration of the concluded agreement in the unified database of Rosreestr.
  8. Presentation of the contract of equity participation in the bank and payment of the first installment (if provided for by the terms of the loan).
  9. The conclusion with the bank of the contract that the property under construction will act as a loan collateral and, in the event of failure to comply with the terms of the loan, the ownership of it is delegated to the lending organization.
  10. Payment of the agreed types of insurance.
  11. Registration of a loan agreement with a bank in a single database of Rosreestr.
  12. The transfer by the bank to the borrower’s account of the value of the property with a deduction of the initial payment, if such payment was made.
  13. The translation of the amount received by the developer.

After the construction of the property is completed, the following steps should be taken:

  1. Draw up and sign the act of transferring the apartment to the owner by the developer.
  2. With the help of expert evaluation find out the value of real estate.
  3. Issue and obtain a registration certificate at the Technical Invertization Bureau.
  4. Sign documents on real estate pledge with the bank.
  5. Register a mortgage in the single database Rosreestra.
  6. Get a document on the acquisition of ownership of the property with a note that it is under encumbrance.


Features of drawing up a contract of equity participation


 Features of drawing up a contract of equity participation

Before entering into such an agreement, you should familiarize yourself with its standard samples and, if possible, consult with an experienced lawyer.

You should also check the reputation of the developer:

  • view information about it in the Unified Register of Developers;
  • familiarize yourself with the construction permit, which must comply with the requirements of the regulatory acts governing this issue;
  • monitor customer reviews that have previously collaborated with this developer.

It is necessary to cooperate only with proven developers who have been working in the real estate market for a long time, because there are many one-day companies that, after concluding a fictitious contract for participation in shared construction, disappear with clients’ money without fulfilling obligations to them.

Before issuing a housing loan, the bank also verifies all the information about the developer, but the above precautions will help the borrower to additionally secure their financial investments.

The contract must indicate which specific property is transferred to the property of the buyer after the completion of construction work. Also, it is necessary to indicate the deadline for the developer to fulfill his obligations, the price of the property and the period of its payment by the participant in shared construction. Only if you specify the above data, the contract will have legal force. It is important to describe as accurately as possible the parameters of the acquired housing, since at the end of the construction work, an unscrupulous developer can provide a completely different property, for example, with extra square meters, which will have to be paid at market value. Such cases are quite frequent as the construction company cannot unilaterally change the terms of the contract, but has the ability to adjust the parameters of the property in the relevant documentation.


It should be noted that the share construction contract will not be allowed to be included in the general database of the Federal Register of Russian Register, unless a civil liability insurance procedure has been performed. For this service, the borrower will have to pay up to 2% of the value of the property to a bank or a private insurance company.

Tax return on personal income

 Tax return on personal income

First of all, it is important to know that the amount of the refund in relation to the equity participation agreement cannot exceed two million rubles.

The right to an opportunity for the buyer to receive a property deduction arises immediately after the conclusion of an act on the transfer to the ownership of the participant of the shared construction of the property by the developer. It is not necessary to have a certificate of registration of ownership of real estate. This nuance is regulated by 220 articles of the Tax Code of the Russian Federation.

The amount of tax deduction can be obtained from the price of the property, and from interest paid by the borrower of the lending organization.

To refund personal income tax, you need to collect the following documents:

  • A statement of the petition for deducting funds;
  • Original or notarized copy of the equity agreement;
  • A document confirming the acquisition of ownership of real estate;
  • The act of transfer by the developer of the object of the contract in the sole possession of the participant of shared construction;
  • Receipts or other documents confirming the making of mortgage payments for shared construction.

Requirements for obtaining a loan and choosing a bank

 Requirements for obtaining a loan and choosing a bank

When deciding whether to approve or reject a mortgage application, the bank is guided by the following criteria:

  • information about the credit history of the borrower (whether there are overdue payments, whether the subject has previously acted as a guarantor for the outstanding loan; the absence of a credit history does also raise suspicions on the part of the bank);
  • the size and stability of the lending entity’s income (even if a loan is taken for the longest possible term, the amount of regular contributions is quite impressive, so the credit institution pays special attention to the client’s solvency);
  • the reputation of the developer, to which the lending subject plans to apply;
  • the level of liquidity of the acquired apartment in the real estate market.

The procedure for issuing mortgages for shared construction is practically no different from other mortgage programs offered by credit organizations.

Some banks may issue a loan even to unreliable clients, but at the same time, the interest rate will be prohibitive.

When taking a mortgage on equity construction, the interest rate is calculated based on what stage the developer is doing: the earlier it is, the higher the interest on the loan, since in this case the risk for the bank is more significant. Also, when applying for a loan for up to 7 years, the amount of interest charged decreases by 1-2 positions.

As for the choice of the lending organization, in 2018 several banks are leading in this area: Sberbank, the terms of which are most loyal to borrowers, as well as Gazprombank, Agricultural Bank and VTB 24.

Sberbank offers the most favorable lending conditions, moreover, it is considered the most reliable bank in Russia in the matter of fulfilling its obligations. The maximum loan amount is three million rubles. The interest rate is rather low: on average, 7%. The bank does not set any hidden fees. Sberbank, the calculator of which allows you to immediately find out the full amount of the loan with all additional payments, also provides an opportunity to attract a co-borrower in order to lower the interest rate and increase the size of the issued loan.

 Mortgage for shared construction in Sberbank can be taken for up to 30 years, the amount of the first installment is at least 15 percent of the total loan amount. Certificate of income is available at the request of the borrower, but it is worth considering that its presence in the package of documents significantly affects the approval of the application for a mortgage.

Also, quite loyal conditions for obtaining a mortgage on real estate in a newly built house are provided by Gazprombank. This organization issues amounts from 500 thousand rubles. The interest rate is 9%, and the loan repayment period is set for a period of 1 to 30 years. The initial installment must be at least 10% of the total loan amount. Clients have the opportunity to repay the mortgage ahead of schedule, in this case interest is not charged.

In the Agricultural Bank, mortgage is issued in accordance with standard conditions. The borrower is required to submit an application for a loan, a passport or a notarized copy of it, a certificate of income. This bank provides loans to individuals aged 21 to 65 years. The amount of the first installment is 15% of the total amount. The maximum maturity of the mortgage is 25 years. This bank does not provide a mortgage without making a down payment, the exception – taking a loan under the program “Maternal capital”.

You can get a mortgage for shared construction on the most favorable terms with the help of social programs (for example, military mortgage, expansion of living space for young families or maternity capital). Banks are much more willing to give loans to participants of such social programs, since their contributions are protected by the state, respectively, the risk of loss of funds due to the developer’s bad faith is minimized.

Many residents of Russia cannot afford to immediately pay the full cost of housing, so mortgage for shared construction is an excellent way out of the situation, as it allows you to pay the loan amount over a long period. Buying housing in new buildings is becoming more and more popular, since its cost is much lower than the market price, and developers are equipping real estate with the latest modern communications, which is an advantage over apartments that are being sold for the second time. To secure a transaction, you should first familiarize yourself with the terms of the loan in different organizations and choose the most attractive, as well as carefully examine the legal side of the issue in order to avoid fraud by the developer or the bank.


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Further Education – From a Businessman to an Accountant Sun, 14 Apr 2019 11:47:46 +0000


A profession for which there is no vocational training? What sounds unimaginable at first seems to apply to the bookkeeper’s work. So there is no recognized vocational training that leads to this profession. In a roundabout way to such a career? That’s fine! The business of an accountant closest comes here to a commercial education. After all, those who have already gained initial experience in bookkeeping as a merchant have created an important prerequisite for employment as an accountant.

Qualify for a job in accounting


However, as the knowledge acquired by industrial or office clerks within their professional education usually does not go beyond basic accounting knowledge, prospective accountants must acquire the necessary knowledge through continuing education. In addition to a further education as an accountant , further education as an accountant is also a popular alternative. However, if you want to work as an accountant, you should already have sufficient experience in accounting. A further education in the balance sheet accounting is therefore particularly suitable for professionals who have already completed a further education as an accountant and are interested in a leading position in balance sheet accounting in addition to pure non-fiction.

Also in times of crisis asked

Also in times of crisis asked

Whether book or balance sheet accounting – the need for specialist personnel in the field of accounting is great. If accountants are constantly needed in companies because of the constant need, then a bookkeeping function promises a crisis-proof job. For those who do not want to be employed as an employee in industry or craft, but want to enjoy the benefits of self-employment, there is still the possibility of starting a business. Freelance work in this field of activity is a popular alternative to permanent employment.

Learn the profession in distance learning

Learn the profession in distance learning

Further education as a (bookkeeper) accountant is particularly suitable for working people who already had experience in accounting or who are in the commercial sector and would like to qualify for employment in the accounting department. Since those interested are rarely newcomers, training in this area is often offered as distance learning. In this way, professional activity and / or family can be combined with training if the time is flexible.

Information about the financial education:

  • Further training information and offers can be found at .
  • offers a quick learning system that supports trainees on the way to (technical) business or business management as well as HR specialist and thus leads them faster to the IHK diploma.


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New: Comparative Overviews with Loan Companies} Business Credit Thu, 04 Apr 2019 11:32:15 +0000  



Invalescoinvest is happy to announce that it is now possible to compare loan companies in Denmark easily and clearly through our new overviews. This means that you can see all the relevant loan conditions and requirements for all the leading providers.

It can be loan limits, maturities, age requirements, response times and much more. In this way, everyone can get an overview of the possibilities and you can search with those who match your needs. It is different if the response time, interest rate or loan amount is the most important thing for you. With our new comparison listings, all preferences are taken into account.

Overview of loan companies 


Overview of loan companies in Denmark

It is certainly not easy to overlook all loan companies in Denmark and certainly not when one has to take into account their many differences. We have therefore gathered all the necessary information in our overview to help you get started as a consumer.

You can see examples of the two types of overviews, under our page on quick loans and page on mine loans without security . Here you will find there are different providers, as it is very different what amounts the companies offer.

If you are looking for loans up to DKK 5,000, you should apply to some providers. If you lack more money, other companies can help you. It is simply and we present comparison charts no matter what type of loan you want to make online.

All you have to wonder about is getting more offers so you end up with the cheapest solution. There can be many thousands of dollars in difference, on the cheapest and most expensive solution.

Faster route to cheap deals

We strongly believe that price comparison is the way to lower prices and interest rates. We therefore hope that our new overviews will give you a faster road, at the cheapest deals and lowest APR percentages . It is, well, the purpose of obtaining more offers.

If you have feedback or comments, we would love to hear them. Otherwise, we wish all our users Merry Christmas.

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