We may not be able to command the excessive fees of a New York or London consultant but it’s worth noting that here in Spain we spend relative income.
This is a concept written about by New York times best selling author Tim Ferriss which states (more or less) that 50,000 euro in La Zenia is probably worth double 50,000 GBP that is earned in London. The reason is the ridiculously cheap way of life you´ll experience here compared to the UK, Ireland or Northern Europe.
Property on the Costa Blanca is cheaper than most parts of Europe, rates and taxes are less and we don’t normally commute to work. Insurance, amenities and hiring staff are all low cost; childcare is 1/3 the EU average; heating, entertainment and dining out are way less than what you´d pay in most parts of the continent.
In terms of euro earned for hours worked, Spain comes out on top too. Again, I paraphrase Tim Ferriss: If you earn 100 GBP per hour in London for a 40 hour week but you have to travel an hour to and from the office five days per week, plus you put in one hour per day from home in the evening, your per hour rate is suddenly reduced to 72 / hr. If it’s a two hour commute and two additional hours per day from home, you are suddenly earning 57 GBP / hr and that before the tax man gets hold of you. Suddenly, your profit per hour while running your Costa Blanca business can be way higher than you´d expect and certainly higher than it would be in the UK.
So, my reading of Tim´s article is this: Buy a property form Comaskey, Work in Spain, cut the commute and productivity sapping office grind in the UK and you are way better off in relative terms.
Don’t forget that if you do wish to open a business in Spain our sister company, Spanish Solutions can help you with work contracts, registering on the Spanish System, paying tax in Spain etc.
Feel free to call us here if you want to talk about anything commercially related. We are currently involved in a number of businesses in various sectors on the Costa Blanca and we are happy to give you the benefit of our experience.
This is a concept written about by New York times best selling author Tim Ferriss which states (more or less) that 50,000 euro in La Zenia is probably worth double 50,000 GBP that is earned in London. The reason is the ridiculously cheap way of life you´ll experience here compared to the UK, Ireland or Northern Europe.
Property on the Costa Blanca is cheaper than most parts of Europe, rates and taxes are less and we don’t normally commute to work. Insurance, amenities and hiring staff are all low cost; childcare is 1/3 the EU average; heating, entertainment and dining out are way less than what you´d pay in most parts of the continent.
In terms of euro earned for hours worked, Spain comes out on top too. Again, I paraphrase Tim Ferriss: If you earn 100 GBP per hour in London for a 40 hour week but you have to travel an hour to and from the office five days per week, plus you put in one hour per day from home in the evening, your per hour rate is suddenly reduced to 72 / hr. If it’s a two hour commute and two additional hours per day from home, you are suddenly earning 57 GBP / hr and that before the tax man gets hold of you. Suddenly, your profit per hour while running your Costa Blanca business can be way higher than you´d expect and certainly higher than it would be in the UK.
So, my reading of Tim´s article is this: Buy a property form Comaskey, Work in Spain, cut the commute and productivity sapping office grind in the UK and you are way better off in relative terms.
Don’t forget that if you do wish to open a business in Spain our sister company, Spanish Solutions can help you with work contracts, registering on the Spanish System, paying tax in Spain etc.
Feel free to call us here if you want to talk about anything commercially related. We are currently involved in a number of businesses in various sectors on the Costa Blanca and we are happy to give you the benefit of our experience.
