The Cyprus Registrar of Companies and the Official Receiver released new statistics for the financial year of 2018 on the island and the following results were recorded, looking likely that slow and steady growth throughout 2019 is estimated.
The figures show that total number of incorporated companies legally operating in Cyprus reached 216,572 during 2018. This is only slightly down from the 2017 figure showing total incorporations reaching 217,588.
A huge factor that contributed to the steady upward trend of company incorporations in Cyprus, are the tax benefits and attractive European legal system.
The number of new company registrations in 2018 totalled 14,632.
It is worth nothing that 2017 was the year with the most registration of companies, the number totalling at 29,127.
Record Financial Year in Cyprus
To date, 2013 was the year with the recorded largest total number of incorporated entities in Cyprus, with the registration number hitting 272,319.
Table with Business Transactions in Cyprus
2018 Number of Applications Filed
Applications for Company Name approvals: 32,117
Voluntary company dissolutions: 2,378