This is the fourth consecutive annual decline for the registration of new companies.

New registrations in the first five months of 2015 was limited to 866 compared with 969 in January – May of 2014. Compared with April 2015, registration of new companies marked a reduction of 1.25%

In the first five months of 2015 the number of new company registration reached 4,309 compared with 4,674 in the corresponding period of 2014, marking a decline of 7.81%. Application of company name approval reached 2,015 in May compared with 1,877 in May 2014, whereas applications for the period of January – May 2015 reached 9,455 compared with 9,643 in the first five months of 2014.

According to figures released by the Registrar, total registered companies at the end of May reached 252,976 from 252,218 in end-April. Total registered companies in the end of 2014 amounted to 251,748.

Source: InCyprus