Tag registration as an authorised natural person (PFA) in Romania

Updating CAEN Rev.3 Codes in Romania in 2026: Deadline and Implementation Period Companies in Romania that have not yet updated their registered business activities in accordance with the new Classification of Activities in the National Economy – CAEN Rev.3 – are now beyond the implementation period. The 18-month period, calculated from 25 March 2025, ended on 25 September 2026. Throughout this period, both the previous and the new classifications were recognised and accepted in parallel in dealings with authorities, public institutions and other natural or legal persons. During the implementation period, both CAEN Rev.3 and the previous version were recognised and accepted, including in dealings with authorities and public institutions in Romania. This period ended on 25 September 2026. In this context, Pavel, Mărgărit and Associates Romanian Law Firm provides specialised legal services in business law to assist companies with updating their CAEN codes, taking into account each company’s specific needs and circumstances. Company Incorporation in Romania in 2026: How Do You Choose the Right CAEN Code? When incorporating a company in Romania, since CAEN Rev.3 came into force in 2025, its business activities must be classified under the new CAEN codes set out in Rev.3. The National Institute of Statistics and the Trade Register have made available correspondence tables between the Rev.2 and Rev.3 codes, as well as the list of new Rev.3 codes for incorporating new companies in Romania. Transitioning from CAEN Rev.2 to CAEN Rev.3 in Romania: Why Updating Involves More Than Replacing a Code Updating does not always mean simply replacing one code with another. Although updating CAEN codes in Romania may initially appear to be an administrative formality, companies should carefully examine how their currently registered business activities are reflected in the new classification. The transition from CAEN Rev.2 to CAEN Rev.3 does not always involve a straightforward correspondence whereby one old code is replaced by a single new code. Depending on the activity, classes may have been restructured, subdivided or combined. A corporate lawyer in Romania can assist you in reviewing and classifying your company’s business activities to ensure the correct selection of the CAEN code corresponding to its registered business activity or activities. Are you experiencing difficulties updating your CAEN codes in Romania, or do you have questions about the tax implications for your business? Pavel, Mărgărit and Associates Romanian Law Firm can assist you through a lawyer specialising in tax law. Contact us to assess your situation and identify suitable solutions. Do not navigate these challenges alone. Contact us to assess your situation and identify suitable solutions. Contact Us CAEN Rev.3 for Regulated Activities in Romania: Reviewing Authorisations and Licences For this reason, the review should not be limited to the CAEN code corresponding to the company’s principal business activity. Companies should also examine their secondary activities and, in particular, verify whether their updated registered business activities continue to reflect the activities actually carried out. Where a company is solely updating its registered business activities in accordance with CAEN Rev.3, a simplified update procedure applies. For legal entities in this situation, completing the section of the registration application specifically designated for the update is generally sufficient, without submitting additional documents, except for proof of authority granted to the person appointed to carry out the formalities, where applicable. A separate assessment is required where a company intends to make substantive changes to its registered business activities alongside the CAEN update. In such cases, the corporate formalities and supporting documentation required for the relevant amendment may apply. Additional Considerations for Companies in Regulated Sectors in Romania Updating CAEN codes is particularly important for companies carrying out regulated activities that require licences, authorisations or regulatory approvals. For these companies, the update with the Romanian Trade Register should be accompanied by a review of how the new codes correspond to their existing licences, authorisations and approvals. Depending on the business sector and the applicable sector-specific regulations, it may be necessary to check whether any obligations arise to notify the regulatory authority or update the information held in its records. The same assessment may also be useful in dealings with banks and contractual partners, or in funding procedures where carrying out a particular activity or holding a specific CAEN code is a relevant requirement. From this perspective, the update may also provide companies with an opportunity to verify that their registered business activities remain consistent with the activities actually carried out and the authorisations or licences they hold. To help avoid potential issues, a commercial lawyer in Romania can assist companies in reviewing the authorisations and licences required when operating in sectors subject to such requirements. Updating CAEN Codes in Romania: What Happens to Existing Certificates? Updating CAEN codes does not, in itself, immediately invalidate previously issued documents. Registration certificates and certificates of status issued before 1 January 2025 remain valid until the company’s registered business activities are updated in accordance with CAEN Rev.3. Whenever the registered business activities are updated, the Romanian Trade Register issues a new registration certificate free of charge, together with the relevant up-to-date information from the trade register. What Companies in Romania Should Check Before the CAEN Update Deadline For companies that have not yet completed the update, the implementation period ended on 25 September 2026. In this context, reviewing all registered business activities and their correspondence with CAEN Rev.3 should be treated as a priority. Particular attention should be paid to cases where there is no direct correspondence between codes, companies with numerous secondary activities and, especially, companies operating in regulated sectors. It is also useful to review documents and arrangements in which CAEN codes are relevant, from authorisations and licences to certain contracts, banking relationships or funding programmes, to determine whether the update itself entails any additional formalities. Depending on the nature of the company’s activities, a tax lawyer in Romania could assist in examining any potential new tax obligations, should such formalities arise as a result of updating the economic activity codes. The Expiry of the Deadline Does Not Automatically Trigger a Fine An important point is that the expiry of the implementation period should not be confused with the automatic imposition of an administrative penalty. Romanian Government Decision No. 284/2025 establishes an 18-month period during which CAEN codes are gradually updated and provides that, throughout this period, both the updated and previous versions are valid for non-statistical purposes. This distinction does not, however, diminish the importance of the deadline. The date of 25 September 2026 marks the end of the statutory period during which both classifications are recognised in parallel. Companies in Romania that have not yet completed the update should therefore initiate the procedure promptly. Failure to complete these procedures may lead to difficulties in dealings with business partners, banking service providers and others. Updating Does Not Always Mean Simply Replacing a Code Although updating CAEN codes in Romania may initially appear to be an administrative formality, companies should carefully examine how their currently registered business activities are reflected in the new classification. The transition from CAEN Rev.2 to CAEN Rev.3 does not always involve a straightforward correspondence, whereby one old code is replaced by a single new code. Depending on the activity, classes may have been restructured, subdivided or combined. For this reason, the review should not be limited to the CAEN code corresponding to the company’s principal business activity. Companies should also examine their secondary activities and, in particular, verify whether their updated registered business activities continue to reflect the activities actually carried out. Where a company is solely updating its registered business activities in accordance with CAEN Rev.3, a simplified update procedure applies. For legal entities in this situation, completing the section of the registration application specifically designated for the update is generally sufficient, without submitting additional documents, except for proof of authority granted to the person appointed to carry out the formalities, where applicable. A separate assessment is required where a company intends to make substantive changes to its registered business activities alongside the CAEN update. In such cases, the corporate formalities and supporting documentation required for the relevant amendment may apply. Pavel, Mărgărit and Associates Romanian Law Firm is one of Romania’s leading law firms, providing legal services of the highest quality. Its clients include multinational corporations and major domestic companies. In 2026, the firm’s success stories earned it international recognition from the most prestigious international legal directories and publications. This year, Pavel, Mărgărit and Associates ranked third in Romania in Legal 500’s ranking of business law firms with the most relevant expertise. The firm is also recognised internationally by the IFLR 1000 Financial and Corporate 2026 guide. Furthermore, Pavel, Mărgărit and Associates is the only law firm in Romania recommended by the London-based international directory Global Law Experts in the Dispute Resolution practice area. All relevant information about Pavel, Mărgărit and Associates is available at www.avocatpavel.ro.

Choosing a CAEN Code in Romania in 2026: CAEN Rev.3 for Company Incorporation and Updating Business Activities

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