By Stelios Orphanides
The number of companies registered in Cyprus fell in March to 202,764, or 11 per cent, from 227,840 in December, the Cyprus News Agency reported on Friday, citing the department of company registrar and official receiver.
The drop coincides with the expiration of the March 31, deadline given by the registrar to companies to submit audited accounts and other required documents — which they had failed to do in previous years — or face being struck off. Companies in liquidation or outstanding liabilities to the government are excluded from this measure.
In March, the number of new company registrations rose an annual 23 per cent, to 1,205. It follows a 38 per cent rise in February, the Cyprus News Agency reported. In January to March, total company registrations rose 26 per cent, to 3,235, compared to the respective quarter of 2015.
Registrations of corporate names rose in March and the first quarter of the year by 9.2 per cent, to 2378, and 21 per cent, to 6749 respectively.