CAEN Code will be modified according to EU standards

The National Institute of Statistics elaborated the revised version of the Classification List of the Activities within the National Economy (CAEN), in order to be compatible with the European classification list. The changes will apply starting with January the 1st 2008.

Thus, the activities within the national economy will be classified according to a new structure, compatible with the EU standards. The new codes system will be applicable within the EU, and Romanian companies will be able to take part in any European auction. Good news for the companies is that they will have much more options to register within different domains of economy.

The National Institute of Statistics elaborated the revised version of the Classification List of the Activities within the National Economy (CAEN), in order to be compatible with the European classification list. The changes will apply starting with January the 1st 2008.

Thus, the activities within the national economy will be classified according to a new structure, compatible with the EU standards. The new codes system will be applicable within the EU, and Romanian companies will be able to take part in any European auction. Good news for the companies is that they will have much more options to register within different domains of economy.

According to NIS, the new version of the code will have four new sections, 26 divisions, 48 groups and 101 classes more than the actual version. This means that the new codification is much more detailed and allows for the statistic information and reports to be more accurate.

The changes in the 2nd version of CAEN mainly refer to: detailing certain activities; limiting between repairing, maintenance and installation of machines and equipments activities and the production activities; detailing between the activity of retail trade, taking place in the market, at stalls and the sales activities for food, textile and clothes which will be treated separately; regrouping of the “Activities of information and communication” within a new section; creation of a new section called “Real-estate transactions”; moving the activity of real-estate development and promotion to the “Construction” section; limiting the services that require a high preparing degree of the services that sustain general activities of companies that don’t need specialized knowledge, by creating 2 new sections: professional, scientific, and technical activities, respectively support service activities.

The company’s registration certificates will be changed only if their main activities are modified by the new classification list. Modifications by The Trade Register will be made based on a registration request, submitted together with the Shareholders’ General Meeting Decision mentioning the re-codification of the activities or, by case, elimination or addition of new classes to their present activity.