Cyprus Real Estate
Cyprus (07/05)
Services and tourism (76.2% of GDP): Trade, restaurants, and hotels 20.4%; transport 10.9%; finance, real estate, and business 23.8%; government, education, and health 16.1%; and community and other services 4.9%. ... Work force: Government-controlled area (2004), 333,100: agriculture and mining--5.3%; manufacturing and utilities--12.0%; construction--10.7%; trade, hotels, and restaurants--27.1%; transport--5.3%; finance, real estate, and business--11.9%; government, education, and health--18.4%; community and other services--9.3%. Turkish Cypriot-administered area (2003), 95,000: agriculture--14.5%; manufacturing and utilities--9.3%; construction--19.7%; trade, and tourism--11.2%; transport and communication--8.7%; finance--2.5%; business and personal services--15.3%; public services--18.8%. ... [Read More]
Cyprus
The Constitution of the Republic of Cyprus provides for freedom of religion, and the Government generally respects this right in practice. The basic law in the Turkish Cypriot community also provides for freedom of religion, and the Turkish Cypriot authorities generally respect this right in practice. However, the politically divisive environment on Cyprus occasionally affected aspects of religious freedom. There was no change in the status of respect for religious freedom during the period covered by this report, and government policy continued to contribute to the generally free practice of religion. [Read More]
Cyprus
The Constitution of the Republic of Cyprus provides for freedom of religion, and the Government generally respects this right in practice. The basic law governing the Turkish Cypriot community refers specifically to a "secular republic" and provides for freedom of religion, and the Turkish Cypriot authorities generally respect this right in practice. However, the politically divisive environment on Cyprus occasionally affected aspects of religious freedom. There was no change in the status of respect for religious freedom during the period covered by this report, and government policy continued to contribute to the generally free practice of religion. After the Turkish Cypriot authorities' decision to relax crossing restrictions on April 23, 2003, Greek Cypriots reported relatively easy access to religious sites in the north, including Apostolos Andreas monastery; Turkish Cypriots equally were ... [Read More]
Cyprus
In the northern part of the island, the Turkish Cypriot basic law refers specifically to a "secular republic," and provides for religious freedom; no specific religion is recognized in the basic law. However, based on the 1960 Constitution, the Vakf, which pays the costs of Muslim religious activities and the salaries of Muslim religious leaders, is tax exempt in regard to its religious activities (the Vakf pays taxes on its commercial and real estate operations) and receives official subsidies. No other religious organization is tax exempt or receives subsidies. ... [Read More]
Documents 26-54
C-92. No foreign dissem except Canada and UK. DA for ACSI. Pass to State. On occasion Turkish party for US National War College students, ARMA had following conversation with General Sunalp, TGS Operations Chief. Resuming where he left off in conversation reported my C-84 airgram,/2/ Sunalp stated Turks not concerned about Cypriot real estate and although they abhorred continued killing Turk Cypriots, their major preoccupation danger from highly effective Cypriot Communist organization. GOT policy now to be that this essentially a Turk-Greek matter and that GOT approach will be put all possible pressure on GOG. When I protested that this likely drive the two nations farther apart rather than facilitate mutually acceptable solution Cyprus, he replied that to contrary due centuries of experience with Greeks, Turks regard this as only method force Greeks collaborate. He likened Greece to house cat which would defy man until forced in corner from which no escape ... [Read More]
Department of State Washington File: Transcript: White House Daily Briefing, Wednesday, March 8, 2000
MR. LOCKHART: There already are provisions within the estate tax law that go right to small businesses -- people who have a business worth $1 million, $2 million. There are provisions within the Democratic provision here that provide some relief to small businesses and to family farms. But the difference between the Democratic plan and the Republican plan has nothing to do with small business owners. You're talking about people with the states in excess of $20 million and $30 million who really reap the benefit from this. And that's not the profile of the average American small businessman, and it's not the profile of the people who need the relief here. ... [Read More]
M) Money Laundering and Financial Crimes
Iran’s real estate market is widely used as an alternative remittance system. For example, real estate transactions take place in Iran, but no funds change hands there; rather, payment is made overseas. This typically is done because of the difficulty in transferring funds out of Iran and the weakness of Iran’s currency, the rial. The real estate market, in at least one instance, has been used to launder narcotics-related funds. ... Member states shall ensure that the obligations laid down in this Directive are imposed on the following institutions: credit institutions (as defined previously); financial institutions (as defined previously); and on the following legal or natural persons acting in the exercise of their professional activities: auditors, external accountants and tax advisors; real estate agents notaries and other independent legal professionals, when they participate, whether: (a) by assisting in the planning or execution of transactions for their client concerning the (i) buying and selling of real property or business entities; (ii) managing of client money, securities or other assets; (iii) opening or management of bank, savings or securities accounts; (iv) organization of contributions necessary for the creation, operation or management of companies (v) creation, operation or management of trusts, companies or similar structures; (b) or by acting on behalf of and for their client in any financial ... [Read More]
USIS Washington File: TRANSCRIPT: PENTAGON SPOKESMAN'S REGULAR THURSDAY BRIEFING
Q: But doesn't this benefit contractors and the market and the real estate developers? It benefits everybody except the military and their family who are living in substandard housing. ... Suddenly in the world of private building and private mortgage finance we had to develop whole new ways of dealing with contractors. So that's what we've been working on. We've hired some consultants in the real estate industry and in Wall Street and elsewhere, the mortgage banking industry, to help us do that. It's taken longer than we'd hoped. But the fact is we already have the benefit of nearly 600 units that have come out of this new program. We're going to let a contract at Lackland Air Force Base in Texas I would say in the next month or so for another 420 units. ... [Read More]
Money Laundering and Financial Crimes
Iran's real estate market is widely used as an alternative remittance system. For example, real estate transactions take place in Iran, but no funds change hands there; rather, payment is made overseas. This typically is done because of the difficulty in transferring funds out of Iran and the weakness of Iran's currency, the rial. The real estate market, in at least one instance, has been used to launder narcotics-related funds. ... Macau's free port, offshore financial services, lack of foreign exchange controls, disaggregated law enforcement agencies, problematic (albeit improving) law and order situation, and nascent anticorruption efforts create an environment conducive to money laundering. Macau serves as a gateway to China, and can be used as a transit point to remit funds and criminal proceeds to and from China, Hong Kong, and other Asian countries. Organized crime groups based in Macau are believed to launder their proceeds through joint ventures and real estate purchases in China, or through cross border cash transfers, front companies, real estate purchases, currency exchanges, and alternative remittance systems. Gaming and related services play a critical role in the Macau economy. They account for approximately 40 percent of GDP. Direct taxes from gambling accounted for 43 percent of government revenue in 1999. Organized crime groups are associated with the gambling industry through such activities as ... [Read More]
Money Laundering and Financial Crimes
The Iranian real estate market is widely used as an alternative remittance system similar to hawala: real estate transactions take place in Iran, but no funds change hands there; rather, payment is made overseas. This is often done because of the difficulty in getting funds out of Iran and the relative weakness of the Iranian rial. However, in at least one case the real estate market was used to launder narcotics-related funds under the cover of legitimate businesses. ... [Read More]
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