Cyprus-Forum.com

[Tim Drayton]

I came across the following document entitled “Doing Business in Cyprus: 2011 Country Commercial Guide for U.S. Companies”, an official guide for US companies:

http://photos.state.gov/libraries/cypru ... %20CCG.pdf

in which it is stated, among other things:

The government-controlled area of Cyprus offers good business and financial services,
modern telecommunications, an educated labor force, good airline connections, a sound
legal system, and a low crime rate. Cyprus’s EU membership, its geographical location,
low tax rates, and modern infrastructure make it a natural hub for companies looking to
do business within the EU and with the Middle East, Eastern Europe, the former Soviet
Union and North Africa. A liberal investment regime has also helped increase the flow of
direct investment in Cyprus in recent years.

This does not sound like the description of a place with a flawed business model to me.

[observer]

Doesn't sound much like Cyprus to me.

[GreekIslandGirl]

A liberal investment regime has also helped increase the flow of
direct investment in Cyprus in recent years.

I guess this is the part our competitors have tried to demolish.

[Paphitis]

A liberal investment regime has also helped increase the flow of
direct investment in Cyprus in recent years.

I guess this is the part our competitors have tried to demolish.

Interesting theory!

Cyprus was a competitor to who exactly?

The US Kolokasi Industry?

[Tim Drayton]

Doesn't sound much like Cyprus to me.

I am sorry to say that, as a foreigner who:

1. runs a one-man freelance business in Cyprus, and
2- has in the past run businesses in three different countries

the description DOES sound like Cyprus to me, and I really HAVE found Cyprus to be a good place to do business.

PS - Neither money laundering not any other form of illicit activity is involved in my activities.

Joking and flippant comments apart, this is a propaganda war that must be fought and won. It can be done. Nobody believes in the 'weapons of mass destruction' pretext that was used to destroy Iraq any more, and the pretext that was used to destroy (or hopefully in the attempt to destroy) Cyprus must also be fought and discredited.

[Paphitis]

Good for you Tim! I apologize for my flippant comment but at the end of the day, I don't like misinformation.

Yes, I agree that Cyprus needs better PR and needs to combat misinformation from abroad. Unfortunately, we Cypriots stoke the fires which worsens the misinformation.

Cyprus is a good place to do business. Noble Energy is about to invest billions in Cyprus and employ thousands.

Even Cypriot Banks in the past were considered conservative Banks. They never exposed themselves to high risk investments, only deposit lending and Bonds. Unfortunately, they bought too many Greek Bonds and held on to them when everyone else was looking to get out of Greece!

[Get Real!]

Had the Cypriot business model been flawed it wouldn’t have provided the country with a good income for 2-3 decades!

What is perhaps new in Cyprus is white collar crime of a serious magnitude in the form of bad investors bypassing safety mechanisms and jeopardizing the entire nation.

[GreekIslandGirl]

... this is a propaganda war that must be fought and won. It can be done.

You are so right. Same was done for Greece and too many with personal agendas still proliferate the propaganda.

And the Basel AML Index has assigned Cyprus a lower money laundering risk than the eurozone average and lower than EU countries like Germany, Luxembourg, Austria and the Netherlands.
Now, the latest findings will no doubt validate the suspicions of many here who maintain the money-laundering accusations were but a pretext to turn the screws on the debt-ridden country.

http://www.cyprus-mail.com/cyprus/clean ... l/20130501

[Paphitis]

Yes sure, money laundering maybe less prevalent in Cyprus. Fine!

But our Bank were still stupid enough to over expose themselves to junk Greek Bonds and lost a lot of money!

[Tim Drayton]

Yes sure, money laundering maybe less prevalent in Cyprus. Fine!

But our Bank were still stupid enough to over expose themselves to junk Greek Bonds and lost a lot of money!

Yes, but the 'money laundering' pretext was used to justify the hard treatment that Cyprus was then given.

Merkel and Schäuble even came out several times with the pronouncement that, "everyone who has a Cyprus bank account is responsible, and it is right that they contribute towards the rescue," which I find to be totally bizarre. I am a self-employed resident of Cyprus and I do not see how it is possible for me not to have a Cyprus bank account. I was never consulted by my bank (Bank of Cyprus) as to whether they should expose themselves so much to Greece, for heaven's sake!

This discourse must be challenged and rebutted.