Some like it sliced in two
Subsidised living, low taxation and plenty of discretion. Cyprus is a Russian meddlers’ enclave and tax refuge that could unite Washington and Brussels.
- Saturday, 30 December 2017
There is an island in the far eastern quadrant of the Mediterranean Sea, one that in spite of its surface area of just 9,251 km2 has a GDP of $19.8 billion (€16.6bn) and boasts over 14,000 companies (12,000 of which have no physical presence in its territory). That island is Cyprus, renowned for Famagusta, Limassol and Nicosia, as well as for UN enclaves and a division between the north and south that has gone on unresolved since 1974. But more than anything else, Cyprus has become a haven for companies that prefer discretion.