Company registrations up 11% in July

08/08/2018

The number of company registrations rose in July 11 per cent to 1,446 compared with the respective month of 2017, defying tighter anti-money laundering measures, restrictions against shell companies, and sanctions, the office of the registrar of companies and official receiver said.

In the first seven months of the year, the number of new companies registered on the island rose an annual 14 per cent to 8,851, the department said.
The number of documents submitted rose 13 per cent last month and 10 per cent in January to July to 12,264 and 84,598 compared to the respective period last year, the department said. The number of certified copies issued rose 28 per cent in July to 32,068 and 11 per cent to 205,460 in the first seven months of 2018.The number of applications for company names rose an annual 14 per cent in July and 24 per cent in January to July to 2,696 and 19,888 respectively, it added.