In this video, the focus is on the crucial shift from Caen codes (NACE codes 3) to revision 3, highlighting significant changes like new classifications and the mandatory update process for Romanian businesses.

It's vital for companies to conduct a comprehensive review of their current operations and realign their codes with the latest standards.

"If you need assistance with this transition, feel free to reach out."

The world of business in Romania is on the cusp of a significant transformation with the upcoming changes to the NACE codes, which will take effect on January 1, 2025. These revisions are not merely an administrative formality but also reflect the dynamic economic reality and technological advancements. Understanding and preparing for these changes is crucial for businesses operating in Romania. This article provides an in-depth overview of the impact of the new NACE codes, the need for compliance, and the steps businesses must take to adapt.

The third revision of the NACE codes brings several important changes that will have a direct impact on businesses in Romania. This update is a response to ongoing globalization and digitalization, which have reshaped industries and created new economic activities that were previously unrecognized.

The implications of the NACE code revisions are far-reaching. Companies must review their current classifications and determine whether they comply with the new codes. This may include:

Updating Articles of Association: Companies must amend their articles of association to reflect any changes to their NACE codes.

Compliance Checks: It is crucial that companies verify that their activities comply with the new classifications to avoid penalties.

Compliance with the new NACE codes is not just a legal formality; it is essential for maintaining operational integrity and ensuring eligibility for various benefits.

On top of that, the register ORJC will not register any changes of the company until the Caen codes are updated to revision 3.

Watch my video to get more insights: caen codes rev3 in Romania

#caenrev3 #caenromania #investromania #businessromania

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