articles | 06 September 2018

Company registrations up 9.9% in August 2018

The number of company registrations, a performance gauge of the corporate, accounting, and legal services sector rose 9% in August 2018, to 1,003, compared to the respective month of 2017, the Registrar of Companies and Official Receiver said.

In the first eight months of the year, which saw US pressure mounting on Cyprus to comply with US sanctions and do more about money laundering, the number of company registrations rose an annual 14%, to 9,854, the department said in an emailed statement on Thursday. The number of registered companies at the end of August was 213,213.

The number of applications for company names fell an annual 0.3%, to 2,022, last month and rose 21%, to 21,912, in the first eight months of the year, the department said. The number of certified documents issued rose 6.9% in August and 10% in the first eight months, to 24,876 and 230,352 respectively.

The number of other documents submitted rose an annual 8.4% last month, to 9,912, and 9.9%, to 94,565 between January and August, it said.

Source: Cyprus Mail

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