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Originally Posted by BlackCrayon
What does having money in a cyprus bank have to do with anything with being on an international level? Last time I checked you can use a bank account in any country to send money to any other country. if I am missing something, please fill me in. Why can't these people from unstable countries use a bank in germany or the UK?
Everyone knows why people set up accounts in cyprus. Yeah. Im sure all the adult companies set up there just want to have money in some international bank? What makes cyrpus an 'international' bank more so than any other bank? I don't agree with what they did at all but for example if someone had 100k in an american bank and 100k in a cyprus bank fpr five years, after the 10% they still would be better off in cyprus just because of the high interest rate.
i don't see it happening anywhere else because spain and italy, etc don't have the same banking laws that cyprus does. who is putting their money in spain and italy to avoid taxes? you say there are many reasons for using cyprus, i just don't see if. can you point me to a list of legitimate reasons perhaps?
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Others have already posted several legit reasons. For whatever reason you can't grasp that not every country in the world has stable banking like the USA and many people who do have the ability to bank elsewhere, do. You seem to think having a bank account in a "tax haven" means everyone is evading taxes and we're all living in 1990 when you could open a bank account with no documents. Those days are LONG gone.
People choose Cyprus for the same reason they choose any other country for banking, it works for their needs. The same reason you choose to only bank in your country, it works for you. Those of us who work outside of our home country need.... wait for it... wait.... foreign bank accounts. And if you're going to open a foreign bank account, why not open one where banking is safe, secure, easy, and doesn't shut your account down because you're trying to access it from another country. International banks are better for international business. It's that simple. USA banks are great for doing business within the USA, but their fees are much higher and they were not equipped to handle my international needs so I opened several accounts elsewhere, and none of it had to do with tax evasion. Now I don't even use a USA based bank, why would I? They suck if you don't live in the USA.
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Originally Posted by pornopete
The bank holiday on Monday was a valid holiday. Today they were closed due to what is going on.
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Until Thursday.