About us

One of the priorities of the Republic of Cyprus, particularly within the context of reform development but also the wider vision of the country to become a business activities hub, is the modernisation of the Department.

In this context, in April 2014 the Council of Ministers approved of an Action Plan for the reform and reorganisation of the Department as well as the establishment of a Project Team within the Ministry, with the responsibility to identify and promote all necessary actions for the implementation of the reform.

The core of the above Action Plan comprises of the following strategic objectives:

• Increase efficiency and provide fast and high-quality services to users;
• Streamlined procedures, based on best practices;
• Creation of Paperless Office and
• Automation of procedures.

With regard to Companies Section, the reform project itself rests on the following main pillars:

• Updating the Register of business entities;
• Strengthening and modernising the legal framework;
• Digitalisation and electronic governance;
• Business Process Reengineering;
• Reorganisation of human resources; and
• Relocation of the Department.

Throughout this effort, the challenge for the Companies Section is twofold. On the one hand, the changes underway must assist to the maximum business activities and promote the initiation of investment through the maintenance of a reliable Companies Register, while on the other hand they must increase the Section’s efficiency by streamlining internal business processes supported by modern information technology systems, to achieve optimumutilisation of human resources and reduction of administrative cost.