CYPRUS: Applications for new company registrations up 10%

There is an upward trend in the registration of new company applications with an annual increase of nearly 10% in August, data from the Registrar of Companies and Official Receiver show.

According to the data the number of applications for the registration of a new company was up by 9.8%, reaching 1,003 in August from 913 in August last year.

In the first eight months of 2018 applications for the registration of a new company spiked 13.7% reaching 9,854 from 8,666 in the same period of 2017.

A marginal drop of 0.34% was recorded in applications for company names, which reached 2,022 compared to 2,029 in the same month of 2017.

However total registered companies as of August 31, were 213,213, lower than the 217,588 registered in 2017.

New registrations in the first eight months of 2018 were 9,625 while in the twelve months of 2017 they had reached 13,677.