By Stelios Orphanides
The number of company registrations dropped in February by an annual 14 per cent to 961, the Registrar of Companies and Official Receiver said.
In January to February, the total number of company registrations dropped 0.8 per cent to 2,024 compared to the respective period of 2016, the company registrar said in an emailed statement. The number of applications for company names dropped an annual 13 per cent in February to 2,042 and 4.5 per cent to 4,206 in the first two months of the year compared to the respective period of 2016. Company registrations are an indicator of the performance of the business services sector.
The number of documents submitted fell in February 13 per cent compared to February 2016 to 9,832 while that of documents submitted in the first two months of the year rose an annual 1 per cent to 21,019, the department said.
The number of certified copies issued fell 5.6 per cent in February compared to February last year to 24,667 while that issued in the first two months of the year rose 2.2 per cent to 50,801, the department said.