Cyprus Mail

Company registrations rise 20 per cent in 2016, company registrar says

The number of new company registrations rose 20 per cent last year to 13,616, the highest post-crisis figure, the Department of Company Registrar and Official Receiver said.

In December, the number of new company registrations rose an annual 4.1 per cent to 1,335, the department said in an emailed statement.

The total number of companies registered dropped last year 8.1 per cent to 210,677, which is the lowest after 2008, as the number of companies struck off exceeded new registrations. Company registrations are an indicator of the performance of the business services sector. In 2015, the number of company registrations rose 0.5 per cent after rising 3 per cent in 2014.

Last year, applications for company names rose 11 per cent to 27,031 after dropping in December an annual 6.6 per cent to 2,149, the company registrar said.

The number of certified copies rose in 2016 and December 10 per cent and 6.2 per cent to 311,110 and 28,367 respectively, the department said. The number of other documents submitted dropped 12 per cent to 131,296 in 2016 after rising 12 percent to 13,623.

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