articles | 05 September 2014

Company registration applications up in August 2014

The number of applications submitted to the Department of the Registrar of Companies and Official Receiver for company registration increased for the sixth consecutive month, in August 2014.

However it remained at lower levels than those before the deposits’ haircut in Cyprus, in March 2013. According to the Department’s statistics, the number of applications for company registrations reached 722 in August this year, while the corresponding number in August 2013 was 618, recording an increase of 16.8%.

In July 2014, the number of applications recorded the biggest increase since March 2013 (25.3%) reaching 1,138 from 908 during the corresponding month of 2013.

The number of applications for new registrations before March 2013 and more specifically in August 2012 reached 1,264, while in August 2011 they were up to 1,539.

Total registrations from the beginning of 2014 until the end of August 2014 reached 7,297, compared to 7,304 during the corresponding period of 2013.

During 2013 the number of applications reached 10,927 and in 2012 18,098.

The number of registered companies was on August 31, 2014, 266,624, while during the corresponding period of 2013 they were 272,157 and in 2012 269,345.

Applications for the name approval submitted to the Department reached 14,835 from the beginning of 2014 until the end of August. By the end of 2013 they had reached 24,318.

Applications for certified copies reached 186,959 at the end of August 2014. By the end of 2013 they were 308,170.

The filing of other documents submitted by companies reached 88,738. In 2013 they had reached 122,150.

Source: Cyprus Mail

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