Number of Applications to Register New Companies Rises To February 2013 Levels

The number of applications to register new companies rose in July this year to the same level as in February 2013, prior to the “haircut” on deposits, according to figures from the Registrar of Companies and Official Receiver.

The number of applications to register new companies rose to 1,304 in July, compared with 1,288 a year ago, showing an increase of 1.24%. July 2017 was the third month in the past four years since March 2013 in which applications exceed 1,300, Cyprus News Agency reports.

Compared to the previous month, the number of applications marks a significant increase of 36.1%.

In the first seven months of 2017, the number of applications stood at 7,750, compared with 7.654 in the same period last year, showing an increase of 1.2%.

The total number of registered companies stood at 214,323 at the end of July 2017, compared to 213,276 at the end of the previous month.

New registrations for the first seven months of the year amounted to 7,569.

The figures also showed increased interest in registering foreign companies in Cyprus, with registrations in the first seven months of 2017 nearing those of 2016. The new registrations of foreign companies rose to 60 in the first seven months, while they stood at 62 throughout the year 2016.