Cyprus Mail

Company registrations up 9.9% in August

The number of company registrations, a performance gauge of the corporate, accounting, and legal services sector rose 9.0 per cent in August, to 1,003, compared to the respective month of 2017, the Registrar of Companies and Official Receiver said.

In the first eight months of the year, which saw US pressure mounting on Cyprus to comply with US sanctions and do more about money laundering, the number of company registrations rose an annual 14 per cent, to 9,854, the department said in an emailed statement on Thursday. The number of registered companies at the end of August was 213,213.

The number of applications for company names fell an annual 0.3 per cent, to 2,022, last month and rose 21 per cent, to 21,912, in the first eight months of the year, the department said. The number of certified documents issued rose 6.9 per cent in August and 10 per cent in the first eight months, to 24,876 and 230,352 respectively.

The number of other documents submitted rose an annual 8.4 per cent last month, to 9,912, and 9.9 per cent, to 94,565 between January and August, it said.

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