The Trade Register in Cyprus is usually known as the Department of Registrar of Companies and Official Receiver and is part of the Ministry of Commerce, Industrial and Tourism in Cyprus. Its main duties are to register new companies and to update the existing database.
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The main functions of the Department of the Registrar of Companies and Official Receiver (D.R.C.O.R.) of the Republic of Cyprus are to maintain updated the registers of:
Other functions of the Trade Register in Cyprus are:
The organization of the Cypriot Registrar of Companies and Official Receiver is quite complex even if it only comprises three sections: the companies section, the bankruptcy and liquidation section and the intellectual property section. Each one of the sections is divided into departments.
The companies section is in charge with:
The bankruptcy and liquidation section is in charge with:
The intellectual property section is in charge with:
The Trade Register in Cyprus also has a registry department and an accounting department where fees are collected.
The registration process of a company with the Cypriot Registrar of Companies usually takes about 10 to 20 days and the first step will be to submit the name of the company for approval. Once the name was approved the following documents must be provided:
If you want to set up a company and need details about the registration process you can contact our lawyers in Cyprus for customized solutions. In case you need other types of services, such as assistance when buying a property, our Cyprus property lawyers can help you.