New company registration down in November and first 11 months of 2019

New company registration recorded a drop of 19.5% in November and a drop of 13.3% in the first eleven months of this year, data released by the Companies Registrar and Offical Receiver show.

Applications for the registration of new companies recorded a drop of 19.5% compared to last November and a drop of 13.3% during the first eleven months this year compared with the same period last year.

On the basis of the applications submitted for the registration of new companies it seems that 2019 will be the first year to record a drop in applications on an annual basis, following a continuous increase during the last five previous years, from 2014 to 2018.

In particular, according to the data the number of applications for the registration of new companies in Cyprus reached 1,054 this November compared to 1,309 in November 2018.

Source: Cyprus News Agency