- Cyprus bank crisis. Are the Cyprus banks bankrupt?

Cyprus bank crisis. Are the Cyprus banks bankrupt?

Cyprus bank crisis. Are  the Cyprus banks bankrupt?

How to save money. What to do.Published May 2013. Dubai. UAE.

The world press is full with headlines on the headlines on the banking crisis in Cyprus:

"Banks in Cyprus stopped all account transactions."

"The government of Cyprus announced that deposits up to 100 thousand euros held in local banks would be charged 6.75%, others would be charged 9%. This subject is still under continuous discussions by the tax deductions and its final figures are not definite yet. "

"Cyprus is planning to rescue its banking sector at the costs of the bank account holders in Cyprus banks"

The steps that the Cypriot authorities are trying to use to deal with the crisis are unprecedented. Upon planned forced expropriation / nationalization of the bank accounts of depositors. All this is happening in Cyprus - one of the EU countries.

Where to store and how to save money? Which alternative / replacement of Cyprus.

Cyprus alternative countries for storage facilities are: Austria, Switzerland, Liechtenstein, Luxembourg, and, of course, the United Arab Emirates.

In this case, the United Arab Emirates, as an alternative / replacement Cyprus favorably with those of other countries referred to above:

10 reasons why Dubai, UAE, can be a substitute / alternative to Cyprus.

  • Geographically and economically United Arab Emirates least associated with the European Union, the countries which, against the background of serious problems in the banking sector in Cyprus, may experience similar difficulties. These risks primarily relate to Ireland, Spain, Italy, Greece and Portugal. At the same time, of course, the problems in these countries have a negative impact on all the countries of the European Union and neighboring countries, historically used as a place for storing and keeping money.
  • Economy of Dubai, the UAE and the region as a whole, actively develops in stagnant economies of Europe.
  • UAE banking legislation protects the rights and interests of depositors.
  • UAE banking sector - the largest in the region in terms of assets.
  • Banks in the country, thanks to the positive development of the economy of the country and the region as a whole, and the conservative and prudent policy of the Central Bank of the UAE, are in good shape and do not cause any concern.
  • Tax legislation UAE, in fact, is unique to the taxation of businesses and individuals at a rate of 0% for most types of activity and type of income in the absence of the status of offshore countries.
  • An expanded network of UAE signed agreements on avoidance of double taxation.
  • Purchase and sale of gold and other precious metals in physical form in the United Arab Emirates are absent are any charges or income taxes, and the banks have enough deposit boxes to store it. In a highly unstable world economy a significant number of investors to purchase precious metals.
  • United Arab Emirates are in the 4-6 hour flight from most of Europe and Western Europe, with little or no difference in time.
  • If you want to fly to the Emirates visa opens in just a few days without having to visit the consulate, but this is a quick and relatively inexpensive to obtain a residence permit in Dubai, UAE.