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Cypriot Company Register Shrinks By Ten Percent

by Ulrika Lomas, Lowtax.net, Brussels
13 January, 2015

Cyprus removed almost 30,000 companies from its company registry in 2014, new figures show.

Companies are removed from the register either as a result of their non-compliance with filing requirements (such as the obligation to file annual reports and accounts), the resignation of the company's directors, or as a result of the liquidation of a company.

The removal of 29,692 companies from the register is said to have reduced the number of companies registered in Cyprus by ten percent.

The Department of Registrar of Companies and Official Receiver has reportedly sent out a total of 46,201 reminders to companies that risk being removed from the register as a result of non-compliance.

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I wonder what part of these removals was due to non-compliance or non-payment of annual levy and what part was a voluntary liquidation or strike-off triggered by the owners of companies.

It would be good to know if the author has an idea or information from the Registrar of Companies.

The number might be so high due to the fact that the Registrar finally started being serious and started penalizing (de-registering) non-compliant companies for the first time in number of years...

Cezary-Zieniuk(www.ibccs.com.cy)3 years ago.


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