Cyprus sees 1.2% Boost in Company Registrations Last Month

By in

The number of company registrations increased to an annual 1.2% last month. According to the Department of Registrar of Companies and Official Receiver, this amounted to a total of 1,304 start-up companies and company registrations also rose 1.3% to 7,750 from January to July.
Essentially, the number of company registrations reflects the performance of the business service sector in Cyprus, therefore a rise in registrations is a positive outcome for the industry.
Before the “haircut” on deposits, the level of registrations in February 2013 was the same as the recent 1.2%. According to reports from the Cyprus News Agency, July 2017 was the third month in the last four years since March 2013, in which the applications surpassed 1,300.
Following this, the level of applications for company names grew 5.1% in July to 2,359 applications. When compared to the same time period last year, the number of applications increased 2.3% from January to July to 16,028, according to the aforementioned department.