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Everything posted by Paul@CRCIE

  1. Now the bank is charging you 0,5% on your savings and it's going to hit you, but the annual 2% or 3% cost of it being in cash for a few years was okay? Not having a go here, just pointig out that inflation is also a cost or fee and should be seen as so.  Why don't you just transfer it to a 30 day Festgeld account? You won't receive interest, but there would be no bank fees, but it will again be eaten by inflation until it's invested in property. 
  2. Apartment destroyed by fire. Dealing with insurance

    Dear @Emmbee, so sorry to hear what has happened. I understand what a stressful period this will be.    I can't help with the specifics of your email but my advice is do not deal with your insurance company directly. Employee the services of a claims assistant who will handle your claim from A to Z.    There are many in the internet, but I normally recommend    Please try yourself to contact them, but if you fail to find someone who speaks English, please DM and I will give you the contact of someone within the company.    It is also highly likely that there is a clause in your insurance contract in which your insurance company will pay their fees.    Just give your insurance details to the claims assistant and they will take it from there.    Best of luck with everything!
  3. An apparently impossible VAT question

    Is there no section in the Umsatzsteuergesetz that confirms dealing with such a client is VAT expemt.    For example, when I invoice a client for a payment related to a mortgage payment there is not VAT to be included on this invoice. I just need to include something on the invoice that the pament is exempt from VAT according to §4 Nr. 8a UStG.   Perhaps it's catered for in the UStG. somewhere?
  4. New restrictions for US citizens getting mortgages?

    @elmixsorry for only getting this now, but there was nothing official brought into law from March 2020 that would put restrictions on US citizens borrowing. The FATCA regulations that @franklanmentions is something completely different regarding investments for US citizens overseas. It’s more likely that Allianz perhaps changed their own criteria on that date with regards to lending generally as the market was volatile and there was a LOT of uncertainty due to Covid concerns at that point. I would say it was just bad timing and an internal tightening of the belt in Allianz than anything else. And your Allianz “Broker” is not a Broker if tied to Allianz 😊. I hope you got your home in the meantime! And I hope that answers your questions also @VisualGeologist
  5. And yet one more pension question...

    Hi @Gambatte,   Company pensions can be taken as a lump sum if preferred, so you have that option if you're an employee.   The Riester allows you to cashout 30% at retirement.    Then the "private rente" is a pension plan that allows full cash out, but there is no tax relief at the front end for this pension. You only receive your pension tax free at retirement, even the growth / investment return on the pension is taxable in retirement, so these really are just an expensive savings plan.    Hope that helps!   Paul