CAEN Code Updater Rev. 3

Video: Brief summary about CAEN Rev 3

Identification tool NACE Code Rev 3.1:

What is CAEN Rev 3?

NACE Rev. 2.1 (Statistical Classification of Economic Activities in the European Community) is a statistical classification of economic activities in the European Union (EU).

This provides a framework for collecting and presenting a wide range of statistical data based on economic activity in areas such as production, employment, national accounts, and others.

They are used in governance, in the academic field, and serve to inform decision-makers, among other roles.

CAEN Rev. 3 (Classification of Activities in the National Economy) is the national implementation in Romania of the NACE Rev. 2.1 classification. The main purpose of CAEN is to enable the classification of statistical units, such as enterprises or local units, based on their economic activity.

By mapping national economic activities to the NACE structure, CAEN allows:

1. Analysis and comparison at the European level of economic data from different EU member states
2. Monitoring the evolution of various economic sectors and activities over time
3. Development of economic policies and informed decision-making at the national and European levels

As the economy evolves, new technologies and industries emerge, while others become less relevant.

Therefore, the NACE classifications and implicitly the CAEN must be reviewed and updated periodically to reflect structural changes in the economy.

The reviews allow for a more precise description of activities, reducing the number of approximate classifications and improving the quality and relevance of the collected statistical data.

How is the CAEN code established for a company?

Every company must have a CAEN code that accurately reflects its primary economic activity. This is determined based on the activity that contributes the most to the company's turnover or added value.

To determine the appropriate CAEN code, the following steps are taken:

1. All economic activities carried out by the company are identified.
2. The weight of each activity in the total turnover is determined.
3. Select the 4-digit CAEN code that corresponds to the activity with the highest share.
4. If no activity exceeds 50%, the top-down method is used to select the code from the higher levels (group, division, section) that covers the largest part of the activity.

Frequently Asked Questions about CAEN:

How can I update my business activity?

The first step is to identify how the CAEN codes related to your business have changed (if they have changed).

Below, you will find a translated version of the official correspondence table developed by EUROSTATmuch better thought out than the synthesized version of the National Institute of Statistics.

He explains the situations in which a specific CAEN code is used, as well as information about correspondence. NACE Rev 2.1 corresponds 1:1 with CAEN Rev 3 (they are the same thing).

Guide to Updating in accordance with CAEN Rev 3.1:

1. Complete the Application for Registration in the Trade Register (the updated form will be available from January 1, 2025), specifying the main object of activity according to CAEN Rev. 3.
2. Submit your application:
   1. through the online services portal of the National Trade Register Office
   2. at the ONRC counter
   3. by post/courier
3. Depending on the type of company (legal entity, sole proprietorship, individual enterprise, family business), complete the relevant sections of the application:

For legal entities:

• Just updating the object: Section V, point 8
• Update + other remarks: Section V, items 8 + items 4.1, 4.2, 4.3
• Detailing/aggregating CAEN classes: Section V, item 8 + item 4.1

For PFA, II, IF:

• Just updating the object: Section VII
• Update + other remarks: Section VII + Section VI, items 2.1, 2.2, 2.3
• Detailing/aggregating CAEN classes: Section VII + check "modify" and "update"

1. Attach the necessary documents prepared in accordance with CAEN Rev. 3.
2. ONRC will issue a new registration certificate and up-to-date information from the trade register free of charge.

By following these steps, you can comply with the obligation to update your business activity according to the new CAEN Rev. 3 classification.

Below, you can find the original version, in English, of the new NACE codes (EUROSTAT):