Quote:
Originally Posted by BlackCrayon
I don't consider cyrus a stable country. Without the tax benefits of banking there, they wouldn't have anything. 70 billion dollars in deposits, how much would be there if not for the tax benefits? I can get that some places aren't safe to bank but you think cyprus is? I'm sure cyprus isn't the only 'international' bank (i am still not sure what makes one bank international and another not). i guess the tons of shell companies set up there is just a coincidence all in the name of international banking.
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Cyprus
BANKING is... er... was stable and very safe. It has been for years. What you consider safe is not relevant to the fact that it is known for banking and billions are have been kept there for a reason. You don't have to understand it.
Cyprus, Dubai, Hong Kong, Switzerland, Lichtenstein, and so on, all great banking countries for various reasons and have been for a long time. Some are better than others, some are better for this or that, but it all comes down to what works best for you and your business, and many choose Cyprus.
Shell companies are set up all over the world. Sure, there is tax evasion going on (it happens all over the world too, starting with the waitress at your local restaurant who doesn't claim her cash tips), but you are making it sound like that is the only reason someone would want/need an account there, which is completely incorrect. If you don't understand it, then you don't understand it. Because if you did, we would not be having this debate.