This is the 13th consecutive month that an increase is being recorded. It is estimated that the total number of applications in 2016 will exceed the number of applications submitted during the last three years (11,000 applications).

According to data released by the Department of Registrar of Companies and Official Receiver of the Republic, the number of applications for new company registration stood at 1,132 in September 2016 compared to 938 in September 2015.

Compared to the previous month, the number of applications increasedin September 2016 by 11.8%.

During the first nine months of 2016, the number of applications reached 9.798, compared to 7.949 in the first nine months of 2015, recording an increase of 23.3%.

The data show that the number of applications for name authorization in September 2016 stood at 2,350, compared to 2,262 in September last year, recording an increase of 3.9%.

Source: InCyprus