In an interview for Interfax, the President of the Russian Bankers Union said that as financial products the Cyprian banks are as attractive as the ones in Luxemburg – they offer convenient tax reliefs and at the same time they work under strict international laws. “In Cyprus, as opposed to other countries, there is a lot of budget excess,” says Edward Savoulyak – an investments advisor and reminds that first, in Cyprus there is no danger for deposits and second, the government is guaranteeing up to €100 000. In Russia .
Cyprus is not attractive only because of its banks. Kathimerini newspaper claims that Russians are also attracted by the real estate opportunities. Last year, 30% of all real estate sales were done with Russians. For the first three months of 2009, this percentage has increased to 40% and this way Russia is becoming the biggest foreign real estate investor on the island. Also, Russian tourists have increased because last year 31% of the issued visas for Cyprus were given to Russians.
