5122

Authorisation procedure and Trade Register aspects for CAEN 5122

Setting up a company with the main activity of CAEN 5122 – Space transport requires completing the standard registration steps at the Trade Register (ONRC), with specific mentions. When submitting the application, a sworn statement must be completed in accordance with Law 359/2004, where the administrator declares compliance with the legal conditions for carrying out the activity. Given the nature of the activity – transport of goods/passengers in outer space – it is mandatory to obtain prior approvals from the Ministry of Research, Innovation and Digitalisation or the Romanian Space Agency (ROSA), depending on the specifics of the missions. Also, if space vessels are operated, a type certificate issued by the Romanian Civil Aeronautical Authority (AACR) or the competent authority in the space field is required. The company must have a registered office declared at the Trade Register (ONRC), which may be a physical location where coordination, maintenance or mission control activities take place. Upon registration, proof of the principle approval from ROSA for operating space vehicles must also be submitted. Failure to meet these requirements leads to the rejection of the registration application by the Trade Register (ONRC).

Related activity objects and coding

To cover auxiliary operations, it is recommended to include the codes CAEN 5223 (Service activities incidental to air transportation) and CAEN 7735 (Renting of air and space transport equipment). Notably, unlike air transport, space transport involves distinct legal risks regarding liability for damage caused by space objects, regulated by Law no. 86/2007 on space activities. At the Trade Register (ONRC), it shall be stated that the main object is 'Space transport', and the secondary activities will be listed separately in the fiscal declaration.

Regulatory framework, specific approvals and control institutions

The space transport activity is strictly regulated by Law no. 86/2007 on space activities and the implementing regulations approved by Government Decision no. 1,334/2007. Any operator intending to launch, operate or recover space objects must obtain a space activity licence from the Romanian Space Agency (ROSA), which is the national regulatory authority. The licence must be requested at least 180 days before launch and implies submitting a file including: mission description, risk assessment, third-party liability insurance and space debris management plan.

Insurance and civil liability

Legislation imposes compulsory civil liability insurance for damage caused by space objects, according to the Hague Convention of 2007 (via Law no. 86/2007). The minimum insured amount is set by order of the Minister of Research, but in practice, for commercial operations, coverage of at least 10 million euros is recommended. Also, the transport of dangerous goods (e.g., rocket fuel) requires additional approval from the National Commission for Nuclear Activities Control (CNCAN) or the National Agency for Dangerous Substances, depending on the nature of the materials.

Fiscal management, ANAF audit risk and specific accounting

From a fiscal perspective, companies carrying out CAEN 5122 are subject to the Fiscal Code in full. Corporate income tax is calculated according to Title II, with the possibility of applying the micro-enterprise income tax system if the threshold conditions are met. VAT applies at the standard rate (19% for services provided in Romania; for services to non-EU entities, exemption or reverse charge rules apply). However, space transport involves international operations, and invoicing to foreign partners must comply with the rules for locating services under Article 278 of the Fiscal Code. We recommend consulting a tax consultant specialised in intra-UE transactions.

ANAF audit risk and asset accounting

ANAF may initiate a fiscal audit based on Order 2075/2021 on fiscal risks. Companies in the space sector present a medium to high risk due to the high value of investments and the deductibility of research and development (R&D) expenses. To avoid adjustments, transfer pricing files must be prepared and the reality of R&D expenses must be justified through technical documentation. The accounting must separately record space assets (launch vehicles, satellites, ground infrastructure) according to OMFP 1802/2014, valued at acquisition cost or production cost. Depreciation is calculated over the useful life, which for space vehicles is 5-10 years, approved by a technical expert.

Fiscal declarations are submitted monthly/quarterly to ANAF, and for non-EU operations, a customs declaration is completed. The RO e-Factura system is mandatory for all B2B invoices issued by residents, including for space transport services to clients in Romania. Non-compliance with these obligations attracts penalties and re-registration for VAT purposes.