So, What's It Like To Have a Business in Cyprus Right Now?

by Travis Holte
Lew Rockwell Blog
Mar. 28, 2013

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Here's an account (literally):

Writes the owner:

The most of circulating assets on our business Current Account are blocked.

Over 700k of expropriated money will be used to repay country's debt. Probably we will get back about 20% of this amount in 6-7 years.

I'm not Russian oligarch, but just European medium size IT business. Thousands of other companies around Cyprus have the same situation.

The business is definitely ruined, all Cypriot workers to be fired.

We are moving to small Caribbean country where authorities have more respect to people's assets. Also we are thinking about using Bitcoin to pay wages and for payments between our partners.