Fees increase in 2022

Due to global inflation and political instability across the world, our Firm increased engagement fees in Q2 2022 to cover increasing operating costs. Before this increase, our fees remained unchanged since 2019.

We are conducting business in a difficult period of global inflation due to i) the Ukrainian War and ii) the global pandemic and iii) high energy prices and iv) rising global interest rates and v) supply chain problems. Consequently, the margins from Clients’ engagements are declining.

For transparency purposes, I prepared this web page to honestly explain the reasons that led to an increase of our engagement fees:

  • Since 2019 and in every country on the planet, our Supplier fees increased including i) independent auditors and ii) local lawyers and accountants and iii) professional nominee resident directors and shareholders. For example, Qatari Supplier costs increased because of the World Cup. Costs in Dubai increased due to the inflow of Russian money since February 2022. Dubai residential and commercial rents increased because of the inflow of global migrants and businesses. The migration of millionaires in Dubai resulted in increased demand for residential and commercial properties. Consequently, landlords increased rent by 30 to 50%
  • In the majority of countries on the planet, government fees increased for company incorporation and annual renewals. For example, i) Australia annual filing fees and ii) Cayman Islands renewal fees increased by 30%
  • To keep up with inflation, staff costs keep rising, especially in Singapore and Dubai. This is a global challenge for every business;
  • Because of Hong Kong unrest over the past years, there is a migration of multi-national companies from Hong Kong to Singapore. Consequently, office rental costs increased in Singapore and there is also a labor shortage;

Solutions

Our promise to your Firm Example
  • As outlined in the notes of every sales invoice on our business web site, if Healy Consultants completes your engagement faster than expected and easier than expected, our Staff will be happy to partially refund excess fees to our Client; and
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  • During your engagement, my team and I promise to be alert for opportunities to minimize third party costs including i) lawyers and accountants and ii) independent statutory auditors and iii) Government fees. On your behalf, we will aggressively and skillfully negotiate fees with third parties; and cc you in those emails; and
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  • During your engagement, my team and I promise to be alert for opportunities to legally minimize local and international taxes;
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  • For transparency purposes, all third-party fee payments will be supported by original receipts and invoices. Examples of possible third-party payments include i) embassy fees ii) notary public costs iii) official translator fees; iv) office rentals and v) Government costs
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  • To assist our Clients to minimize bank fees on international funds transfers, our multi-national Clients' can pay our fees via i) crypto-currency or ii) PayPal or Stripe or iii) credit card and iv) bank transfers to corporate bank accounts located in banks near where they live. To minimize foreign exchange costs, we accept payment in main global currencies, including AU$, SG$, Euro, British Pounds or US$;
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  • My Firm has put a freeze on Staff salary increases and bonuses;
  • Healy Consultants Group PLC is looking for higher quality but cheaper suppliers in every country on the planet including third party auditors, lawyers and accountants;
  • We are happy to supply your Firm a 5% discount on the 2nd and subsequent country engagements