According to the Companies Registrar records, the number of new company registrations within 2016 has increased 20%.
A total of 13,616 companies were registered during 2016. This is the highest number since 2013 and the bailout. In 2015, the number of company registrations had risen 0.5 % per cent after rising 3% in 2014.
The number of certified copies rose in 2016 by 10% to 311,110. Applications for company names rose 11% to 27,031.
Company registration and management is an extremely important sector in Cyprus and benefits a large number of professionals such as accountants, lawyers and other service providers. More importantly, the government benefits from the taxes received from companies registered in Cyprus and various fees paid by companies to the Companies Registrar and other authorities.