Registrations of Companies in Cyprus Increase by 23%
- Written by: Editor
- Posted: 2017-11-20
The Department of Registrar of Companies and Official receiver announced that the registration numbers (which indicate the performance of the business services industry) increased with a yearly 23% in October 2017. In this article, our lawyers in Cyprus further explain this statement and different aspects related to it.
More details on registrations of companies in Cyprus
Cyprus represents a famous hub for holding companies, international or area quarters, as well as for investment companies.
The island continues to be the preferred jurisdiction for many international companies, entrepreneurs and investors.
Therefore, the news that the registrations of companies in Cyprus increased this year came as no surprise. If you intend to open a company in the island, our Cypriot lawyers can assist you with the registration procedure involved.
From January to October 2017, the application number for company registrations increased by 2.4% to 11,142 compared to the same period of the previous year, as the department stated.
The application number for names increased by 45% to 3,176 in October and by 7.4% in January to October, reaching 23,721.
Why did this increase happen in Cyprus?
Following the crisis from March 2013, the Cyprus company registrations rose moderately, however, progressively, each year, which showed clearly that the international businesses, investors and financial corporations regained their confidence in the local business environment. Our attorneys in Cyprus can offer more details on this subject.
In 2016, the yearly number of company registrations in Cyprus increased to 13,645 from only 10,847 in 2013.
The number of company registrations, based on the data gathered so far, is projected to rise to 14,200 at the end of this year. If you are an investor looking to register a company here, our Cypriot lawyers can help.
For more details on the increase of the company registrations in Cyprus, or if you need assistance in opening a business in this country, please do not hesitate to contact our Cypriot law firm.