New Company Registrations In Cyprus Hit 3-year High

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The applications for new company registrations in Cyprus soared in July 2016 to the levels prior to the haircut of 2013.

This was the eleventh consecutive month that the number of applications is rising.
The increase of 19.3%, compared to July 2015, translates to 211 more applications for new company registration this year than in last July.
Compared to May 2016, the month to month increase  was of 26.7%.
In the period January – July 2016, the number of new company registration applications reached 7,653, compared with 6,301 in the corresponding period of 2015, presenting an increase of 21.4%.
According to the Registrar of Companies, the number of total registered companies was 205,864 as of July 2016.
In July 2016 the Registrar of Companies registered 1,181 new companies, a record number for the current year,  and the total number of new companies registered with the Registrar of Companies up to and including July 2016 rose to 7,448. The positive trend is made more obvious if we compare this number to the total number of new registrations of the year 2015 which hardly exceeded the 11 thousand threshold.

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