New Registrations of Companies
The number of new registrations of companies increased by 22% from Q1 2015 to Q1 2016. It has been noted that 2015 ended with 11,270 new registrations and a total of 227,840 registered companies.
Business Names and Partnerships Additional Registrations
Q1 2016 marked the highest number of additional registrations in Business names & Partnerships (560) and the highest increase (21%) from Q1 of the previous yearly quarter.
Overseas Companies Additional Registrations
Even though the number of new registrations of overseas companies in Q1 2015 dropped to a record low of 12 companies, there has been a 37% increase in Q1 of 2016, reaching to 19 additional registrations.
Total CIR Entities
The total number of CIR listings (870) for Q1 of 2012 and 2013 was more than the total number of CIR listings (837) for Q1 of 2011, 2014, 2015, 2016.
Total Number of Bounced Cheques
2012 marked the highest number of bounced cheques for Q1. This is in line with the total annual number of bounced cheques, which peaked in 2012 at 4,753. Since 2012 there has been an average decrease of 14.6% in the number of bounced cheques per Q1 of each year. Q1 of 2016 marked the lowest number with 328 bounced cheques.
Total Value of Bounced Cheques
The aggregate value of bounced cheques for Q1 of 2011, 2012 and 2013 was 3 times higher than the aggregate value for Q1 of 2014, 2015 and 2016.
Total Number of Voluntary Liquidations
2015 marked the highest annual number of voluntary liquidations over the period 2011-2016, with a total of 2,113. It could be argued that the total number of voluntary liquidations in 2016 will exceed last year’s peak figure, given that the number for Q1 2016 (494) is 31% higher than Q1 2015 (342).
Sources:
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- Department of Registrar of Companies and Official Receiver
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- Central Bank of Cyprus – Central Information Registry
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- Infocredit’s Group Internal Database