According to figures obtained by the Cyprus News Agency (CAN) by the Department of the Registrar of Companies and Official Receiver of the Republic of Cyprus, the number of applications for the registration of a new company was in January 926, compared to 788 in January 2015. It is noted that this is the fifth consecutive month where the number of applications records an increase, following the decrease recorded in July and August 2015.

On a monthly basis, the number of applications in January 2016 dropped by 28%, compared to December 2015.

In addition, the number of application for the approval of business names was in January 2016 2,064, compared to 1.663 in January last year, thus recording an increase of 24%.

According to the data, registered companies by the end of January 2016 stood at 228,637.

Source: InCyprus