Company registrations up 17% in June 2018

The number of company registrations rose in June 2018 an annual 17% to 1,123 unaffected by tougher anti-money laundering measures including shell companies being banned from the banking system, official figures show.

The number of company registrations, an indicator of the performance of the corporate services sector, rose 15% in the first half of the year to 7,405 compared to the respective period of 2017, the Department of Company Registrar and Official Receiver said in an emailed statement.

Applications for names rose in June an annual 16% to 2,622 and in January to June 26% to 17,190, the department said. The issue of certified documents rose 13% in June to 29,167 and 7.8% in the first six months to 173,376 while the submission of documents rose 15% in June to 11,973 and 9.5% to 72,272 respectively.

Source: Cyprus Mail