European MBA Diary

Thursday, May 12, 2005

Loan for a loan

I have been busy with the application for the HSBC loan. Mainly because HSBC requires that all documentation must be officially translated to english. And this is where all the trouble begins! First, I discovered that if you want to do it properly, each translated document must be authenticated by a notary AND it must come with an Apostille (I guess this is the right english word for it...) according to the Hague Convention. And since we're talking about 20+ documents, I've been receiving quotations like 800-1000 Euros for the whole translation works and 60-90 Euros for authentication per document. Which gives a nice sum between 2000 and 2600 Euros!!!

Can I apply for a loan, to cover these loan application costs?

So, I've been trying some cost cutting in all this process. First, I know now that the notary and apostille stuff is not required. The only thing necessary is for the translators to sign and stamp the copies, as true translations. And, I've been also selecting text in all documents that I believe is not important for translation (publicity messages from the bank, company address and other details, utilities messages, etc). Let's see what comes out of this.

Oh! I also received an advice from a current LBS MiF student. He's brazilian and it seems that brazilian translators are much cheaper than the portuguese ones that I've been consulting (a total cost around 200 Euros!!). So, since the language is the same, and if the brazilian guys can post to Portugal all the translated documentation, I think I've found a winner!


2 Comments:

  • I guess it's true what they say: you gotta spend money to make money :-)

    By Blogger divinemissN, at 2:07 pm  

  • How did your application go? Have you gotten feedback on it yet?

    Hope yours was more successful than mine.

    Another MBA2007 for LBS

    By Blogger Al Martine, at 12:46 am  

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