Company registrations up 6.4% in May

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By Stelios Orphanides

The number of company registrations rose 6.4 per cent year-on-year in May, to 1,141, after falling 2 per cent in April, the Department of the Registrar of Companies and Official Receiver said.

In January to May, the number of new company registrations rose an annual 2.6 per cent, to 5,488, the department said in an emailed statement.

The number of applications for names rose an annual 17 per cent last month, to 2,608, and 2.9 per cent in the first five months of the year, to 11,413, the department said.

The number of certified copies (of archived documents) issued rose an annual 6.9 per cent in May and 5.4 per cent in January to May, to 28,353, and 134,935 respectively, the department said. Last, the submission of other documents rose 18 per cent in May, to 11,758, and in the first five months of the year 5.6 per cent, to 55,404, compared to the respective month of 2016.

Company registrations are a leading indicator of the performance of the business services sector.

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Stelios Orphanides is a journalist at CyprusBusinessMail.com. To contact Stelios Orphanides: [email protected]