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Economic experts agree that the activity in tax havens jurisdictions have increased during the last year even though international organizations have tried to finish with them. With only 200 euros you can incorporate a company in Delaware, the second smallest state in the USA. Yearly you will need to…


A three-man committee of will investigate the near-bankruptcy of the Cyprus economy to determine political, civil or criminal involvement. The committee will be formed by Giorgos Pikis, a former Supreme Court judge and a former member of the International Court of Justice in The Hague, and former Supreme…


After the haircut on deposits over 100,000 EUR and the restrictions on ATMs withdrawals and bank transactions, the Finance Minister of Cyprus has explained the new financial measures to be taken by the executive. The Central Bank published yesterday two government decrees on Laiki Bank and Bank of Cyprus…


The chaos that was expected yesterday as banks reopened after two weeks of forced holidays was just a fear as the reality translates in relatively calm and patient. Long queues formed from early in the morning although banks were not to open until noon but at early afternoon the queues disappear without…


As it is stated on the Department of Registrar of companies of Cyprus website in view of the developments of the last few days and especially the non-operation of Credit Institutions, the annual fee of three hundred fifty Euros (€350) may be paid until the 26th April 2013 instead of 29th March 2013. Therefore,…


The complete plan to control capital in Cyprus and avoid a run on the banks by depositors is expected to be ready on Wednesday. Thousands of Cypriots have protested at the bailout deal this week in the streets of Nicosia and all the other cities. They believe these measures will cost many of them their…


The executive achieved an agreement yesterday on setting up an Investment Solidarity Fund in order to collect the 5.9 billion euros required to unlock the EU/IMF's financial aid for the island. After the parliament's rejection the creation of the fund is seen as a backup plan in order to avoid a levy…


The government forced the banks to stay closed until next week as it work on a third draft on taxing bank deposits, this time however at a much lower rate in order to minimize the possible drain on deposits. Cyprus has turned to Russia seeking alternative solutions after parliament historical "oxi". According…


Cyprus stood on the brink of bankruptcy last night after its MP's voted against a bailout deal that would have taxed bank deposits. The decision sets in motion a showdown with its European creditors who are insisting that the island contribute towards its rescue package or risk going bust. EU countries…