Posted on 03/23/2013 10:38:24 PM PDT by Brad from Tennessee
LIMASSOL, Cyprus — Andreas Marangos, a Porsche-driving lawyer here, had just woken up when he heard the news that threatened to destroy his and Cyprus’s most lucrative business: setting up shell companies and providing financial services for wealthy Russians.
He rushed to his computer to check whether the “crazy talk” he had just heard was true — that his government had agreed last week to effectively confiscate 9.9 percent of the wealth of anyone holding more than 100,000 euros, about $129,000, in a Cyprus bank.
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“There is a clear danger of this area becoming a platform for confrontation between East and West,” said Harry Tzimitras, director of PRIO Cyprus Centre, a research center in the capital, Nicosia.
Cyprus has until now frozen out Russian interests from offshore gas concessions, snubbing a low bid by Novatek, a Russian company whose directors include Gennady Timchenko, a wealthy oil trader and judo club acquaintance of President Vladimir V. Putin’s. In talks last week in Moscow over a possible loan to Cyprus, Russia made clear that it expected a piece of the gas pie for its own companies, according to Cypriot officials and politicians.
(Excerpt) Read more at nytimes.com ...
Cyprus is a good tax haven.... that and the island’s gorgeous sun-kissed views are its main attractions.
Cyprus is WAS a good tax haven.... that and the island’s gorgeous sun-kissed views are WERE its main attractions.
” the island’s gorgeous sun-kissed views are its main attractions.”
Any pics of these, uh, sun-kissed views :) ?
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