Company registrations up 17% in June

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By Stelios Orphanides

The number of company registrations rose in June an annual 17 per cent to 1,123 unaffected by tougher anti-money laundering measures including shell companies being banned from the banking system, official figures show.

The number of company registrations, an indicator of the performance of the corporate services sector, rose 15 per cent in the first half of the year to 7,405 compared to the respective period of 2017, the Department of Company Registrar and Official Receiver said in an emailed statement.

Applications for names rose in June an annual 16 per cent to 2,622 and in January to June 26 per cent to 17,190, the department said. The issue of certified documents rose 13 per cent in June to 29,167 and 7.8 per cent in the first six months to 173,376 while the submission of documents rose 15 per cent in June to 11,973 and 9.5 per cent to 72,272 respectively.

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About Author

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

  • Vaso

    Good news and despite all Turkish provocations and banking debacles there is still faith in this sector.

    • A is B

      Not really “V” most of these are just shell companies, unemployment is up dont forget. If it was industry investing yes good, unfortunately it isn’t.

  • The Truth

    Are they overseas investors? (Hiding funny money) Or companies closing down owing money and opening a new company to scam others?