The Sections which today constitute the Department of the Registrar of Companies and Official Receiver were established in the beginning of the 20th century and were incorporated in various services such the Customs and the Supreme Court.

In 1946 the Department was united under the Ministry of Commerce, Industry and Tourism. Although it has been offering services to the commercial and industrial world for nearly a century its role has never been so important and necessary for businessmen as it is today.

The Department is responsible for the registration, control and good functioning of Companies, Partnerships, Business Names, Trademarks and Patents under the relevant legislations and also administrates the properties of insolvent companies and individuals.

The Department's goal is to offer correct and accurate information to the public for the promotion of trade by giving the current status of all the registered businesses, their products, services and economic affairs.

The Department's efficient functioning is of vital importance especially in the services sector and it serves 561 advocates' offices and 359 accountants' offices which currently employ more than 4,100 persons.

The Department promotes the economy and facilitates commercial transactions in all the sectors of the economy. There are currently more than 100 thousand companies and it is expected that by the year 2,000 they will reach 150,000.

The Department has also played a major part in the protection of intellectual property in Cyprus and by amending the relevant legislation it has encouraged original creation in all fields especially in the sectors of electronic computer programmes, music and theatrical works.

A rapid development is expected on Patents' protection when the House of Representatives votes for the relevant enactment of the legislation which is now pending before it. On passing this new legislation, foreign investments in new technology will be encouraged especially from European countries.

The registration of offshore and maritime companies also encourages foreign investments, and offers employment to Cypriot professionals and clerical personnel. Up to this date approximately 40 thousand offshore and maritime companies have been registered and Cyprus is currently among the 10 largest International Offshore Centres.

The Department's direct revenue is over £5 m. annually with prospects for an increase in the coming years.

The Department's internal procedures combine the most efficient principles of the Public Sector, together with good administration targeting to efficiency and high quality thus meeting the requirements of today's businessman.

The Department offers fast and high quality service to the public and the well-trained staff is always willing to serve and give explanations and information to all inquiries.