Company registrations up 13% in January, department says

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By Stelios Orphanides

Company registrations in January rose by 13 per cent to 1,198 compared with the same month in 2017, the Department of the Registrar of Companies and Official Receiver said on Friday.

The number of applications for company names rose by an annual 20 per cent last month to 2,591, the department said in an emailed statement.

The number of certified copies of documents issued rose by an annual 7.4 per cent to 28,072 while the submission of documents rose by 32 per cent to 14,846, it said.

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About Author

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

  • Kevin Ingham

    I really have no idea what this statistic means or is supposed to represent?

    For example, the Bank Of Cyprus has set up 3 subsidiary companies to buy property portfolios from their delinquent borrowers, presumably having lent these subsidiary companies the money to buy them from the people they lent money to in the first place ? How does that fit in with increased company registrations?

    • xenonx

      You have provided the answer to your own question, a good solid foundation for the future of the RoC.

  • JS Gost

    Amazingly, most of the foreigners buyiing passports are setting up companies as well to avoid any tax when they sell their initial investment (but keep the passport). With almost 4,000 people buying passports in the last 12 months it is quite easy to see how these figures should not be used to gauge how well Cyprus is doing.

    • xenonx

      Exactly!

  • AnalogMind

    Very good!