Cyprus Mail

Registration of new companies continues upward trend in August

The upward trend in the registration of new companies continued in August, data released by the Registrar of Companies shows.

The number of applications for the registration of a new company rose by 9.8 per cent, reaching 1,003 this August compared to 913 in August last year.

In the first eight months of 2018 applications for the registration of a new company reached 9,854 compared to 8,666 at the same period of 2017, recording a significant increase of 13.7 per cent.

At the same time, a marginal drop of 0.34 per cent was recorded in applications for company names, which reached 2,022 compared to 2,029 in the same month of 2017.

Total registered companies as of August 31 were 213,213. At the end of 2017 total registered companies came to 217,588.

New registrations in the first eight months of 2018 were 9,625 while in the twelve months of 2017 they had reached 13,677.

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