Hundreds of Western-trained Cypriot lawyers and accountants earn a living from handling the affairs of Russian and Ukrainian offshore companies. The relationship has flourished since the island became a base for proto-capitalists from the former Soviet Union in the 1990s, thanks to a communist-era treaty on removing double taxation. A relaxed attitude to transactions involving cash-filled suitcases also helped.
The Economist: A new party for Cyprus’s Russian exiles and expats
A picture taken on Dec. 23, 2016 shows a general view of the divided Cypriot capital Nicosia.
