If, for one reason or another, you find yourself in a dead end on the financial side but you need a large amount of money to acquire a property or to make a payment, you will surely fall on option to apply for a private loan or for a payday loan. But what is a good option?
If you are tinkering with a loan until you get back to its basic state, you will notice that a loan is essentially made up of a few factors: the size of the loan, the loan term, and the cost of borrowing. Another noteworthy method is the method of payment required to repay the loan, as this is important when considering payday loans. In the same vein, ask yourself the following questions:
How much money do you need?
2. When do you need it? 3. How much can you afford to repay each month? (This concerns the cost of borrowing, for example the interest rate) 4. How long can you afford to make these payments?
So, let’s look at a few different scenarios to determine the type of loan that works best for you.
If time is a factor, and the amount of money you need is less than $ 1500, then a payday loan would be the right choice. Payday loans are fast and convenient, and it works in a very simple way: you get the loan for which you applied and the day you get paid, a certain amount of money will be withdrawn from your bank account to repay your loan. This is a quick and convenient approach because you can get the loan you want very quickly and without having a headache, as long as you meet the loan qualification requirements.
Payday loans are known to be very expensive, but this cost is justified by the infallible automation offered by most lenders.
If you need a larger loan, your first option may be to opt for an unsecured private loan
Once again small (usually below $ 5000), this type of loan is not as “automatic” as a payday loan would be but quick enough to get (especially if you compare to something like a home equity loan). The method of repayment varies from lender to lender. The cost of an unsecured private loan is only a fraction of that of a payday loan.
If the cost (the interest rate) of a loan is important to you, then the unsecured loan may not be what you are looking for. For a loan to be negligible, the lender will want to have some kind of collateral in order to reduce the risk and the loss that would come with the event of a default. The usual assets that are used to obtain a loan are the vehicles or the goods. Individuals who are looking for smaller loans often avoid refinancing their home (the cost of breaking a mortgage may not be worth it) but rather opt for a better alternative: that of refinancing their mortgage. vehicle. This is a fairly easy thing to do if you own your vehicle or if your vehicle has a high value (if you have paid a large portion of the financing for your vehicle). If you have any questions about payday loans, private loans or car loans, do not hesitate to contact us by clicking here. What is the best option, do you think? Let us know by leaving a comment below.
The most attractive countries for residency by investment
The study for 2018 considered residency by investment programs in 21 countries. The first place was taken by Austria with the highest indicators of the quality of life and reputation of the country. The permanent leader of the past few years, Portugal was in second place.
To get a “golden visa”, you need to pay from 500,000 euros, there are programs from 250,000 euros.
Under the terms of the program in the country must spend at least 35 days in 5 years. During the existence of the program since 2014, more than 6 thousand investors received a “golden visa”. Most residence permits were issued to citizens of China, Brazil, and Russia. In the third position is the new program of Italy. It allows you to get a residence permit of the country through investments of EUR 500 thousand. The United Kingdom with the Tier 1 visa, which is popular among foreign investors, has risen by one position over the year and is now in 5th place.
To use the popular US investment program EB-5 you need to invest from 500 thousand dollars. That’s just the application of the investor will be considered for several years. In Greece, a residence permit is given to property owners, however, it should cost between 250,000 euros.
“In 2017, the demand for a Greek residence permit through investments grew by almost 40% compared to 2016. Most of the residence permits for the year were issued to citizens of China, Russia, and Turkey. Spain gives you the opportunity to get a residence permit for real estate investments from EUR 500 000 without the need to stay in the country. From 2013 to 2016, 2,236 foreign investors received a residence permit in Spain through investments, among investors 685 are citizens of Russia, ”says Irina Simonyan.
For the evaluation of the programs, 10 indicators were used: reputation, quality of life, taxation, visa-free entry to other countries, application review and quality of information processing, complex, investment requirements, general expenses, terms for obtaining citizenship and requirements for obtaining citizenship.
Independent experts from Thomson Reuters, Knight Frank, The Economist Intelligence Unit, Baker & McKenzie, Fragomen LLP took part in the rating. Investors and government officials from different countries were also interviewed. For each criterion, experts scored countries (from 0 to 10), after which the results were summed up.
Whether Kazakhstan will be able to interest investors with benefits and preferences is not yet clear. And it’s not just the bill. To get into the rating of programs for obtaining a residence permit, you need not only to provide foreigners with tax benefits but also to improve the level and quality of life of their own citizens.
“The task of the AIFC – and this applies not only to issues of investment residency and private banking – not so much to compete with developed centers, as fill the emerging niches. The welfare of Central Asian countries is growing, there are people with large capitals who will look for reliable management companies. what is the aim of the AIFC? Another question is what will be the level of trust in the Astana center, how good the exchange will be, how much the legal regime of the center will justify the expectations. It is necessary to understand that investors are feeds to London, not because there is British law and a modern trading platform operates, but because there is, firstly, a predictable and understandable environment, and secondly, a large number of issuers with assets that are interesting to the market, “explains Sergey Domnin.
Now the bill is under consideration in the Government of the Republic of Kazakhstan. Developers are planning to submit it to Parliament for consideration in May-June 2019.
Not so long ago, we mistakenly wrote news about the sale of Kazakhstan citizenship for $ 150,000. Journalists did not interpret the information in this way, and this is not about citizenship, but about foreign investment. This practice is popular in many Western countries that do not give citizenship to all visitors, and investments in the country’s economy make it possible to legally live on its territory.
What will these investments give to foreigners in Kazakhstan? What preferences will they get? What and why do they want to change for them in the legislation of the country?
Who is an investor and what are his rights and benefits in Kazakhstan?
An investor is a natural and legal person making investments in the Republic of Kazakhstan.
The Law “On Foreign Investments” dated December 27, 1994, which had lost its force, had the concept of a national investor – an individual permanently residing in the Republic of Kazakhstan and (or) a legal entity of the Republic of Kazakhstan investing in the Republic of Kazakhstan.
With regard to benefits, under current legislation, tax preferences are granted to investors (reducing the amount of calculated corporate income tax by 100% – 10 years; applying 0 to land tax rates – 8 years; calculating property tax at 0 percent to the tax base – 8 years).
“At the same time, the number of investments in fixed assets must be at least two million times the monthly calculation indicator (as of the date of filing the application established by the law on the Republican budget). Investment preferences are provided for priority activities approved by the Government of the Republic of Kazakhstan No. 13 of January 14, 2016 “, – says the official response of the MID of the Republic of Kazakhstan to the editorial request.
What they want to change in Kazakhstan
According to this program, it is proposed to allow foreigners to obtain a residence permit of the Republic of Kazakhstan through investments and receive tax preferences.
The concept of “investment residency” in Kazakhstan was not previously. In order not to amend all the laws of the country, the developers proposed to launch an investment residence on the legal framework of the AIFC. That is, permission to reside in Kazakhstan to investors will be granted on the basis of an application from the administration of the financial center. The concept states that both the investors and their family members will be able to receive a residence permit.
To obtain a residence permit a foreigner must invest at least 150 thousand dollars:
in one or several investment funds registered in accordance with the regulations of the AIFC and managed by one or several management companies that have the relevant licenses of the AIFC regulatory body;
in securities traded on the AIFC;
to purchase real estate within the approved territory of the AIFC;
in any combination of the above options.
The developers believe that this program will help attract investments to the country.
“The estimated amount of investment is relatively small, which makes the program competitive. A special tax regime can be a major advantage of the program. There are several dozen investment programs in the world, and the investment requirements of each program differ significantly from each other. To obtain an investor visa in the UK, 2 million pounds, in the United States – from 500 thousand dollars, Portugal – from 250 thousand euros. The formation of the cost of the program is a complex process in which interests of the country and the realities of the investment immigration market “, – explains Irina Simonyan.
Economist Sergey Domain notes that the draft does not speak about obtaining Kazakhstani citizenship, but only about resident status. However, for citizens of some countries, it is not too difficult to obtain the status of a resident in Kazakhstan – for example, for Russians.
“Kazakhstan is positioning itself as a haven for investors and is trying to use all the tools to attract capital. Actually, this was the idea of the AIFC – to attract capital into the country by all available and legal means. Investment residence is one of the most common ways of raising capital in developing countries. One of the activities of the AIFC is private wealth management (perhaps, Kazakhstan’s residency will be a part — let’s call it that — a packaged product; Dealing with those foreigners who will become clients of the AIFC. Apparently, in the segment of private banking in the AIFC, they are primarily focused on clients from neighboring countries, including those who for some reason have been denied access to the European and Asian markets.
An employee of the Zertteu Research Institute, Sholpan Aytenova, supports the idea of creating a legal framework for investment residency. But he believes that it is necessary to change not only the legislation.
“This practice is common in the Baltic countries, Europe. Legal conditions should be to attract investment residency. But another question is whether foreign residents will be interested? Is Kazakhstan such an attractive country for such residency? At the moment, countries with a good investment climate are more interesting, with good conditions for doing business. On the other hand, judging by the Doing Business rating (in the Doing Business 2018 of the World Bank, Kazakhstan ranked 36th, in the Doing Business 2017 rating – 35th. – Auth . ) si This situation is improving, but there must also be other institutional conditions: economic, political, business conditions. “