Com­pany reg­is­tra­tions reach pre-cri­sis lev­els

Financial Mirror (Cyprus) - - FRONT PAGE -

The num­ber of ap­pli­ca­tions for new com­pany reg­is­tra­tions rose in July to the pre-cri­sis lev­els (of March 2013), fol­low­ing an up­ward trend for the 11th con­sec­u­tive month.

Ac­cord­ing to data from the Reg­is­trar of Com­pa­nies, the num­ber of ap­pli­ca­tions for new com­pany reg­is­tra­tion in­creased in July to 1,287, com­pared to 1,079 last July, an in­crease of 19.3%. Of the last 28 months, 22 saw an in­crease in ap­pli­ca­tions for new reg­is­tra­tions.

Com­pared to June, the num­ber of ap­pli­ca­tions in July saw a sig­nif­i­cant in­crease of 26.7%.

In the Jan­uary - July pe­riod, the num­ber of new com­pany reg­is­tra­tion ap­pli­ca­tions reached 7,653, com­pared with 6,301 in the cor­re­spond­ing pe­riod of 2015, an in­crease of 21.4%.

The num­ber of ap­pli­ca­tions for name in July reached 2,244, com­pared with 2,235 last July, show­ing a mar­ginal in­crease of 0.4%.

The to­tal for reg­is­tered com­pa­nies the end of July stood at 205,864. In July, 1,181 new com­pa­nies were reg­is­tered, bring­ing the to­tal num­ber of new reg­is­tra­tions in the first seven months of 2016 to 7,448 from 6,267 in the first six months of this year. Through­out 2015, to­tal new reg­is­tra­tions were 11,270.

New ad­di­tional reg­is­tra­tions re­lat­ing to for­eign com­pa­nies amounted in the first seven months of 2016 at 31, while for the en­tire 2015 were 71.

he to­tal num­ber of com­pany bank­rupt­cies in the first seven months of 2016 amounted to 73, from 66 at the end of the pre­vi­ous month. The to­tal num­ber of com­pa­nies that went bank­rupt dur­ing 2015 was 80.

The num­ber of in­sol­vent per­sons (re­ceiv­ing orders) were 34, com­pared to 27 at the end of June 2016, while the to­tal num­ber for 2015 was 136.

Vol­un­tary liq­ui­da­tions at the end of July reached 1,180 from 1,011 at the end of June.

Mean­while, the Cen­tral Bank of Cyprus said that the value of bounced cheques in July fell to EUR 43,389, the low­est level since 2003.

July saw also a sig­nif­i­cant de­crease in the num­ber of per­sons reg­is­tered in the Cen­tral In­for­ma­tion Reg­is­ter for bounced cheques, the low­est num­ber since Fe­bru­ary 2003.

The to­tal value of bounced cheques in the first seven months of 2016 was EUR 1,309,113, com­pared to EUR 1,163,876, in the same pe­riod last year.

The num­ber of per­sons, le­gal and nat­u­ral, reg­is­tered in the CIR in July dropped to 16, com­pared to 55 in July 2015.

In to­tal, 230 per­sons were reg­is­tered in the CIR in the first seven months of 2016, com­pared with 362 in the cor­re­spond­ing pe­riod of 2015.

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