March saw the highest number of applications for company registration filed since February 2013, according to company registrar data.
Applications for the registration of new companies reached 1,018 in March 2014, compared with 935 in March last year.
The figures show that “we are doing better” Spyros Kokkinos, Registrar of Companies and Official Receiver told the Cyprus News Agency, adding that “we expect to do even better”.
New registrations reached 2,615 in the first quarter of 2014 and the total number of registered companies by the end of March was 270,480, from 272,157 at the end of 2013 and 269,345 at the end of 2012.
According to the data, 42 companies went bankrupt in the first quarter of 2014. There were 189 company bankruptcies in 2013 and 133 in 2012.
Voluntary liquidations reached 356 between January and March 2014. There were 1,478 in 2013 and 1,144 in 2012.
Forty-eight people filed for bankruptcy in the first three months of 2014, 364 in 2013 and 561 in 2012, the data said.