March witnessed the highest number of applications for company registration since February 2013, according to data released by the Department of the Registrar of Companies and Official Receiver.
The Cyprus News Agency reports that applications for the registration of new companies stood at 1,018 in March 2014, compared to 935 in March 2013; the number of registrations had peaked in February 2013, reaching 1,304.

Spyros Kokkinos, Registrar of Companies and Official Receiver, explained: “We are doing better and we expect to do even better still.”

Kokkinos further explained: “The most important thing is to continue being true professionals and to maintain cooperation between the public and private sector.”

New registrations reached 2,615 in the first quarter of 2014 and the total number of registered companies by the end of March stood at 270,480, from 272,157 at the end of 2013 and 269,345 in the end of 2012.

According to the same data, 42 companies went bankrupt in the first quarter of 2014. There were 189 company bankruptcies in 2013 and 133 in 2012.

Voluntary liquidations reached 356 from January to the end of March 2014, 1,478 in 2013 and 1,144 in 2012.

Bankruptcies of natural persons reached 48 in the first three months of 2014, 364 in 2013 and 561 in 2012.