Company Registrations In Cyprus Increase By 23% In March 2016
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13 Apr 2016
Company registrations in Cyprus increase by 23% in March 2016

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According to ServPRO, the Department of the Registrar of Companies and Official Receiver (DRCOR) of the Republic of Cyprus, announced last Friday, that there was a significant increase in the number of applications for new companies last month, recording a 23% increase in March 2016 compared to the same month in 2015.

The Department of the Registrar of Companies noted that new company registrations are maintaining its upward course for the seventh consecutive month and the 18th increase in the past 27 months.

According to DRCOR’s data, the number of applications for new company registrations in March 2016 came to 1,205, compared to the 980 new company registrations in March 2015, recording a 23% increase.

On a month-to-month basis, the number of applications in March 2016 was up by 8.1% compared to February 2016.

The total number of companies in the register as at the end of the first quarter of 2016 was 202,764.

Moreover, the number of newly registered companies in the first quarter of 2016 was 3,063, compared to a total of 11,270 newly registered companies in the whole year of 2015.

Аccording to the company ServPRO