Company registrations up 0.9% in 2017 to post-crisis high

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By Stelios Orphanides

The number of company registrations rose 0.9 per cent last year to 13,743, the highest figure since 2013, the Department of the Registrar of Companies and Official Receiver said.

In December, company registrations, deemed an important indicator for the performance of the economy and in particular the business services sector, fell 4.6 per to 1,273, the department said in an emailed statement.

The number of applications for names rose last year 7.5 per cent to 29,050 and in December 4.1 per cent to 2,237 compared to the respective period a year before, the department said. The number of certified documents issued rose 4.6 per cent to 325,387 in 2017 and 3.1 per cent to 29,276 in December.

Lastly, the number of other documents submitted rose 6.8 per cent last year to 140,392 and 3.1 per cent to 14,124, the department said.

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About Author

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

  • plexor

    “Cyprus business service” (deceiving for thieving from foreigners).

    In my mind, banks, accountants and lawyers are the helping hands in CYs foreigner exploitation. Companies for foreigners get founded to get exploited. All begins with the opening of a “bank account”, where the foreigner gets introduced from the socalled “introducers” (mostly accountants and lawyers) as victims to exploite. I heard, that at the BoC/IBU foreigners are regulary very disappointed, when seeing the “billionaire-price-gouging fees” – fees rounded to full hundreds of €s – at the debits of the accounts. Introducer and bank misuse the trust and do not disclose to foreign customers, what immense fees will appear and that foreigners have for example to pay a 50 x higher maintenance fee (50 € monthly) compared to Cypriots. Typical in the past was also the obligatory activation of the “fax instruction service”, a useless service out of the bank stoneage, just for foreigners, all without the knowlegde of the foreign customer.

    Letting found a CY company means always deceiving foreigners from the very beginning, at account opening. It follows permanent disadvancing and at the end, when the company is dead-defrauded, final pickpocketing. Complaints of foreigners via introducer obviously never had success and discrimination against foreigners is obligatory, otherwise it could not be, that there is one fake after each other, without any gap and all until today.

  • Bystander

    My guess that main contributors to these figures bear ‘Russian’ and ‘blockchain’ tags.