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The Cyprus Scenario:
A Premise for Wealth Taxation




Often mentioned in parallel with the Greece scenario, this is rather different - it's more about "bail-ins" instead of "bail-outs".

"Bail ins" refer to situations like wealth taxations, bank account holdings' taxation (facilitated by bank holidays), whereas a "bail out" refers to financial packages specifically created to save the major financial institutions.

If you've read about the IMF-suggested bank tax, then you are aware of the fact that it could happen anywhere else, not just in Cyprus.

One might say: wealth taxes are becoming a trend. And one of the most feared forms of wealth taxes are bank deposit taxes - when people's lifetime savings get trimmed.

Obviously, alternative investment vehicles are a lot safer from this point of view.

If you diversify well and hold plenty of hard assets and land, real estate, then you're better off than people holding large sums at their banks.





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