Cypriot Company Register Shrinks By Ten Percent

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.