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Starting with 2025, economic activities in Romania will operate under the new rules set up through the third revision of the Activities Classification in the National Economy (NACE).
This significant update brings a wave of changes that will affect most of the companies, despite of their size or activity area. To successfully deal with these changes, it will be necessary to analyze the new authorization conditions and, if applicable, update the companies' article of incorporation.
What is a NACE Code and Why is it Important?
The NACE classification is essential for identifying and reflecting the economic activities carried out by companies.
These NACE codes, widely recognized in the national economy, are used from the registration and authorization of companies before the Trade Register for reflecting the activities to be carried out by new companies, to financial reporting by activity areas.
Regular updates of the NACE codes reflect the evolution of the economy over time to time and strive to align economic activities with international standards requirements.
Additionally, these NACE codes hold significance at the administrative level. Therfore, depending on the NACE codes declared as being carried out by the companies:
There may be fiscal implications, such as inclusion or exclusion from certain tax regimes or eligibility for specific tax incentives and state aid;
Certain authorizations (such as environmental permits) or additional licenses may be required for carrying out the activity (as for accounting activities) or for certain activities you are not allowed to carried out all together.
Expected Changes in the NACE Code for 2025
The third revision seek to adapt the classification to the new economic and technological realities, imposed by both international standards and the economic reality we face.
For example, fields such as information technology, e-commerce and renewable energy could have significant changes in their classification, to better reflect specific activities and innovations in these areas. Additionally, certain codes may be eliminated or consolidated, affecting the current structure of the constitutive deeds.
Effect on Businesses
Companies will have to review their articles of incorporation to comply with the new NACE codes. This is not a simple task, as it involves a detailed analysis of the activities carried out and aligning them with the new coding. In some cases, an evaluation of the business strategy may be necessary to adapt to the upcoming changes.
Contact us at office@cristinatudor.ro to ensure that your company's article of incorporation complies with the new classification of activities/NACE codes.
Guidelines for Companies. NACE Codes in 2025
Preliminary Check: We can assist with a preliminary check of your company's business to identify the economic activities carried out by and the current NACE codes associated with them, as should be reflected starting 2025.
Legal assistance: If the analysis shows that the activities carried out by your company are not compliant with the new NACE codes, we can help you to identify the new NACE codes applicable to your company's business.
Amending Constitutive Deeds: We provide legal support with the documents preparation to reflect the new Nace codes as per the updated classification, and in submitting these documents before the Trade Register, according with legal requirements.
Notifying Contractual Partners and Public Authorities: Make public the relevant changes to business partners and clients to ensure transparency and operational continuity.
Additionally, if applicable, it will be necessary to notify the authority that issued your company's operating permit to avoid fines or even criminal penalties for operating without the legally required permits.
How we can assist You?
Contact us at office@cristinatudor.ro to assist you accommodating to the new NACE codes classification as effective starting with the next year, ensuring the continuity and success of your business.
Our team can assist you with:
Preliminary verification of the economic activities carried out by your company and identifying the corresponding new NACE codes;
Drafting and updating the constitutive deeds/articles of incorporation to comply with the new regulations, as well as registering them before the Trade Register;
Legal advice to successfully navigate all stages of the updating process.
If you have any additional questions or you need legal assistance for the above, please do not hesitate to contact us at office@cristinatudor.ro or by phone at +40766.706.561.
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