Play the money game

tinker


Joined: 14/08/2008
Posts: 156

Message Posted:
06/11/2008 17:06

Imagine you have £30,000 to invest... 3 £10,000 cheques... How would you do it... 3 separate , a 2 & 1 or altogether...



tinker

kibsolar


Joined: 14/09/2008
Posts: 552

Message Posted:
06/11/2008 17:19

I would wait till the cheques are all cleared ant then invest.. Cheques and cyprus is a never ending story...

No1Doyen


Joined: 04/07/2008
Posts: 16617

Message Posted:
06/11/2008 17:27

What Country do you want to invest in and for how long?

Are you a speculative investor?

How old are you?

Are you married?

Do you have any children?

Do you have any income?

Do you earn more than the tax threshold applicable to the country you live in?

If you do what country do you pay tax in?



This is only just for starters. The list goes on and on!

wackyjim



Joined: 04/06/2007
Posts: 760

Message Posted:
06/11/2008 17:31

tinker



Its Wine and Women for me!!!

keithcaley



Joined: 13/06/2008
Posts: 2521

Message Posted:
06/11/2008 17:43

Message 3, No1Doyen,

The question was "How would YOU do it" - i.e. in your own personal circumstances, for your own personal reasons, - not for some hypothetical 'other' person whose circumstances you don't know...

For myself, being retired, and living in NC, I would put the three cheques into seperate mainline Turkish banks in high interest accounts to provide extra income in YTL, which is what I spend every day.

You?

breezyboy


Joined: 14/05/2007
Posts: 1179

Message Posted:
06/11/2008 18:20

3 x £10000 accounts into YTL Deposit 30 day accounts with Iktisat @ 19% watching exchange rate when I did it.

tinker


Joined: 14/08/2008
Posts: 156

Message Posted:
06/11/2008 18:48

keithcaley

That is exactly it ... Would it be better in different banks... Which would you suggest...

breezyboy


Joined: 14/05/2007
Posts: 1179

Message Posted:
06/11/2008 18:53

See post on creditwest in which their guy as put a link to the government department concerned. More info in that than monts of posts and calls to banks.

Groucho



Joined: 26/04/2008
Posts: 7993

Message Posted:
06/11/2008 19:34

OK Keith... Doyen misunderstood the game....



I would put all the money in banks just like you... let the interest build up then when shares hit a 12 year low 11th Sept next year a Wednesday.... I would buy blue chip company stocks like Gas Electric Telecomms Oil Booze all the things man can not live without.... sit back and watch the growth...



Or I maybe buy vintage wines and lay down a fantastic cellar to safegaurd the future...



Or buy up sex industry ladies and go out with a bang.... (the shot from a high powered sniper rifle)



Or I could just blow it all on chocolate...

wynyardman



Joined: 15/12/2007
Posts: 4580

Message Posted:
06/11/2008 20:16

tinker,



Anyone reading this board, would not touch the TRNC whether it be investment in deposit accounts, or investments elsewhere ie property.



The legal system offers little if any recourse..



Read, take note, and act accordingly.



Wackyjims suggestion of wine women and song, sounds possibly one of the best options.



You pays your money etc, etc.



wyn



wyn

No1Doyen


Joined: 04/07/2008
Posts: 16617

Message Posted:
06/11/2008 23:36

I would buy another property in the trnc - a good long term investment.

harita


Joined: 14/08/2008
Posts: 1343

Message Posted:
07/11/2008 11:57

Bought this one over 3 years ago & not got it yet ...



Harry

Groucho



Joined: 26/04/2008
Posts: 7993

Message Posted:
07/11/2008 13:03

Doyen as you are only allowed to own one property maybe not.

fire starter


Joined: 19/06/2008
Posts: 3401

Message Posted:
07/11/2008 16:28

diamonds are a girls best friend.



they also have gone up in value rather well.



but on a sensible note i would invest it off shore so i had all my interest to enjoy and

no goverment to pay tax to.



it would also be a safe bank with a comp scheme incase the worst happened.

stewy


Joined: 18/10/2008
Posts: 279

Message Posted:
07/11/2008 16:31

Geez man. Tomorrows now !!! Lets party.

No1Doyen


Joined: 04/07/2008
Posts: 16617

Message Posted:
07/11/2008 16:36

Groucho.



DOH!! Anyone know a good Lawyer?

AlsancakJack



Joined: 14/08/2008
Posts: 5762

Message Posted:
07/11/2008 16:47

Grouch

'Doyen as you are only allowed to own one property maybe not.'

How long have you been out here? You should know that are ways around problems like that.

AJ

eager


Joined: 23/02/2007
Posts: 1272

Message Posted:
07/11/2008 17:15

Fire starter, re - msg 14 Monies banked offshore are now subject to a retention tax which is taken from the interest at source. Has been like this for about 3 years now. Whats more any deposit or withdrawal made to this account will be made known to the relevant tax authorities of the account holder. !!!

mitsi


Joined: 14/08/2008
Posts: 345

Message Posted:
07/11/2008 21:56

Eager, this is correct but if you are resident in Trnc/Turkey you can apply for exemption because you are in a non-eu country and they stop taking eusd tax. obviously you need to provide evidence to the bank that you live here ie; tax forms, utility bills, bank statements etc .

no1doyen


Joined: 04/07/2008
Posts: 16617

Message Posted:
07/11/2008 22:06

and passports

fire starter


Joined: 19/06/2008
Posts: 3401

Message Posted:
08/11/2008 14:58

eager re post 18

i am resident in the trnc.

i bank off shore.

no tax is taken from me, as my bank account is registered to my trnc address.

mitsi

i set up the accounts when i was resident in the uk, only had to provide personal details and details of where the opening balance came from.

when we came out to the trnc, we changed our address details and now we do not pay any tax on our interest.

Groucho



Joined: 26/04/2008
Posts: 7993

Message Posted:
08/11/2008 22:38

I wouldn't touch off-shore banks as by their very nature they are not covered by any guarantees from a country's banking system....