Monaco (10)
02.12.2011
Monaco: On the back of a deficit comes change
Minister of State Michel Roger and his ministers came to their first, televised meet-the-press engagement with a carefully prepared "modernisation" agenda that announced a number of new initiatives. Read more … New leader at SBM
27.10.2011
Shareholders miss out as group suffers with online gamble
A decision to withhold dividends for the fiscal 2010/2011 year was announced at the Société Des Bains de Mer (SBM)’s extraordinary general meeting, held last month on 9th September. The move was prompted by a previously-announced net loss of 17.3 million euros on a consolidated turnover of 361.7 million.Read more … No dividends for SBM
21.10.2011
Monaco: The new 'Banque Havilland' opening in Monaco
Luxembourg-based Banque Havilland has just finalised the acquisition of Dexia Private Bank Monaco SAM. Under its new name Banque Havilland (Monaco) SAM the bank will continue to operate out of the same premises (3-9 blvd des Moulins and 32-34 blvd Princesse Charlotte), with the focus on wealth management.Read more … New bank for Monaco’s wealthy
01.08.2011
Advertorial: Why RFP is unique among independent financial advisers
RFP, Riviera Financial Planning sarl, is an Independent Financial Advisory (IFA) company established in 2003 in Sophia
Antipolis, near Antibes, fully registered in France and dedicated to private clients from Northern Europe who already have or are considering buying an estate in the south-east of France or Monaco.
Read more … Stand out from the crowd
01.07.2011
RFP has a solution to legislation that could adversely affect a property loan scheme
Among the many tax reforms currently under preparation in France, one of them, which is likely to be enforced as soon as September 2011, will have very important consequences:
Article 16 of the draft budget law for 2011, specifies that so far as the ‘solidarity tax on wealth’ is concerned (ISF - Impôt de Solidarité sur la Fortune), the authorities will not accept any more that a shareholder loan to an SCI (SPV designed to hold French real estate) is deducted from the value of the property for the computation of the ISF due by the shareholder.Read more … New rules for wealth tax
27.06.2011
Business: Rules have been tightened up on polluting and private vehicles
Continuing our series of articles on tax changes, the system has been reinforced for cars used for business purposes. Company vehicles are classified in two categories, commercial and private.Read more … Tax changes on company cars
01.06.2011
What to do in the light of rising interest rates in Europe
In April, the European Central Bank (ECB) raised its rates by 0.25 per cent. Is this move the beginning of a new monetary policy?
Historically, short-term rates move according to long-term trends. In March 2010, the 3-month Euribor, the reference index for the variable rate loans in euros, hit a record low at 0.58 percent. Since, rates are going up again (the index is now at 1.37 percent).
Currently, the European Central Bank is concerned by rising inflation. Its monetary policy has been very loose over the last two years and if commodity prices remain high or rise, it should continue to raise rates.
What could we do if rates continue to go up?Read more … Short options for the long term
01.05.2011
Local FIA can help you exploit Luxembourg’s policy benefits
Luxembourg is one of the most active financial centres in Europe. With nearly 150 banks, 40,000 people working in the finance sector, net assets of 2.2 trillion euros under management, the country is now a leader in asset management.
The state’s central location in Europe between France, Belgium and Germany, its legal and fiscal specificities, its membership of the European Union and being in the Eurozone make it very attractive for onshore private structures.Read more … Aim high to optimise your assets
29.04.2011
Business: ENGECO chief will push Principality's bid to host 2013 Young International Chamber of Commerce European Conference
Pierre Casaraghi, the third in line to the Monegasque throne, has been nominated as an honorary member of the Jeune Chambre Economique.Read more … Pierre Casaraghi becomes JCE honorary member
01.04.2011
What are the consequences for the Japanese financial market
Japan experienced the biggest earthquake in its history. The industrial region of Sendai which represents about eight per cent of Japanese GDP, is the worst affected. Many factories will remain closed for weeks. The potential cloud from the nuclear accident could be a threat to the big cities on the south coast and could paralyse the country. In the short term, food and energy could become scarce and the whole country may suffer frequent power cuts.Read more … Tsunami & finance
