Cyprus Mail

Applications for company registrations back to pre-crisis levels

The number of applications for new company registrations rose in July 2016 to pre-March 2013 levels, registering an upward trend for the 11th consecutive month.

According to data from the Department of Registrar of Companies and Official Receiver, the number of applications for new company registrations in July 2016 came to 1,287, compared to 1,079 in July of last year, an increase of 19.3 per cent.

Compared to June of this year, the number of applications recorded in July 2016 rose by 26.7 per cent.

In the January – July 2016 period, the number of new company registration applications reached 7,653, compared with 6,301 in the corresponding period of 2015, an increase of 21.4 per cent.

Moreover, according to data from the same department, the total number of registered companies stood at 205,864 at the end of July 2016.

Meanwhile, the total number of companies that went into bankruptcy came to 73 during the first seven months of this year. The total number of companies that went bankrupt during 2015 was 80.

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