Registration of new companies up by 38%

Applications for the registration of new companies in Cyprus accelerated by 38% year on year in February 2016, figures released by the Companies Registrar show.

Applications reached 1,104 in February compared with 798 in February 2015. This is the sixth consecutive monthly increase in applications.

Compared with January 2016, new company registrations increased by 19%.

The number of applications for new name approval reached 2,305 compared with 1,732 in February 2015. In the first two months of 2016, it was recorded at 4,371.

Total registered companies in the Registrar in end-February amounted to 201,554.

New registrations in the first two months reached 1,838 whereas total new registrations amounted to 11,270 in 2015.

Additional registrations of overseas companies in the first two months of 2016 amounted to 11 with total additional registrations in 2015 reaching 71.

Source: InCyprus