The number of company registrations rose in July 2018 by 11% to 1,446 compared with the respective month of 2017, defying tighter anti-money laundering measures, restrictions against shell companies, and sanctions, the office of the registrar of companies and official receiver said.
In the first seven months of the year, the number of new companies registered on the island rose an annual 14% to 8,851, the department said.
The number of applications for company names rose an annual 14% in July and 24% in January to July to 2,696 and 19,888 respectively, it added.
The number of documents submitted rose 13% last month and 10% in January to July to 12,264 and 84,598 compared to the respective period last year, the department said. The number of certified copies issued rose 28% in July to 32,068 and 11% to 205,460 in the first seven months of 2018.
Source: Cyprus Mail