6422
Activities of financing channels
This code covers the activities of entities acting as financing vehicles, such as financial holding companies, investment trusts, or venture capital firms, which hold participations in other companies and provide financing in the form of equity or loans. Essentially, these are entities that do not produce goods or services directly, but manage financial assets and investments for the purpose of generating passive income.
Entrepreneur Profile
Acest cod este destinat societăților comerciale (SRL, SA) care funcționează ca holdinguri financiare, trusturi de investiții, societăți de capital de risc sau alte vehicule de finanțare care dețin participații în alte entități și nu desfășoară activități comerciale directe. Este potrivit pentru antreprenori care doresc să structureze investiții în mai multe companii printr-o entitate centrală.
Who should avoid:
Avoid the exclusive use of code 6422 if the main activity of your company shifts towards other commercial or related branches not specified in the official description. See the excluded activities section below.
Authorization procedure and Trade Register aspects for CAEN 6422
CAEN class 6422 covers the activities of financing channels, including financial investment companies, venture capital funds, mutual funds and other similar entities, with the exception of pension funds and insurance. As such, registration with the Trade Register (ONRC) is done with specific names, which must comply with capital market legislation (Law 126/2018, Government Emergency Ordinance 32/2012) and A.S.F. regulations. The constitutive acts must clearly define the main object of activity, preferably according to NACE Rev. 2, and include provisions regarding the minimum regulated share capital. When submitting for registration, tax clearance certificates for administrators and associates, an affidavit according to Law 359/2004 for the headquarters, and in the case of investment funds, prior approval from A.S.F. is mandatory for operation. Newly established entities must obtain the tax registration code from the Tax Authority (ANAF) and submit the tax registration declaration (Form 010) within 30 days of registration.
Regulatory framework, specific approvals and control institutions
The main regulator for CAEN 6422 is the Financial Supervisory Authority (A.S.F.), which issues operating authorizations and oversees compliance with primary legislation (Law 74/2015 for fund administrators, Law 243/2019 on financial instrument markets) and secondary norms. Depending on the type of entity, specific approvals are required: for investment management companies, A.S.F. authorization; for venture capital funds, compliance with OUG 32/2012 with A.S.F. approval; for alternative investment funds, authorization according to AIFMD. Entities must also register with the A.S.F. Register and periodically report financial statements, risk indicators and transactions. Current control is exercised by A.S.F., the National Bank of Romania (for currency and credit aspects) and ANAF (for taxation). Lack of approvals or operation without authorization attracts contraventional and criminal sanctions, including dissolution of the company.
Tax management, ANAF audit risk and specific accounting
From a fiscal point of view, CAEN 6422 involves special regimes regarding corporate income tax, VAT and other obligations. Income from dividends, interest and capital gains benefits from exemptions or reduced rates, depending on the entity's status (e.g., SIF, investment fund). For investment funds, corporate income tax exemption applies at the fund level, not the investor level. For management companies, commission income is taxed at the standard rate (16%). VAT applies to financial services, but with exemptions for securities operations, according to Art. 292 of the Fiscal Code. Accounting must comply with accounting regulations in line with IFRS (for listed entities) or Order 1802/2014 for non-financial companies, with particularities regarding the valuation of financial instruments at fair value and recording of value adjustments. The risk of ANAF audit is high due to the complexity of transactions, tax benefits and reporting obligations (e.g., the single declaration on gains from the transfer of securities). ANAF may verify the method of asset valuation, the reality of income and the deductibility of commission expenses. Rigorous documentation of transfers and market prices is required to avoid tax adjustments.
Included Activities
- ✅ Activities of financial holding companies
- ✅ Activities of investment trusts
- ✅ Activities of venture capital companies
- ✅ Activities of investment vehicles
- ✅ Management of holdings in other companies
- ✅ Financing other entities through equity or loans
Excluded Activities
- ❌ Pension fund management activities (code 6530)
- ❌ Insurance activities (codes 6511, 6512)
- ❌ Brokerage and financial consultancy activities (code 6619)
- ❌ Financial leasing activities (code 6491)
- ❌ Factoring activities (code 6492)
Similar or Related CAEN Codes:
From the same category of economic activities:
Întrebări Frecvente
What authorizations are required for a company with CAEN code 6422?
No special operating authorizations are required, but if the company attracts capital from the public or exceeds certain thresholds, authorization by the Financial Supervisory Authority (ASF) as a collective investment undertaking may be necessary.
What is the tax regime for income obtained by a financial holding company?
Dividend income may be exempt from tax if the participation conditions are met (holding of at least 10% and a holding period of at least 1 year). Interest income and capital gains are taxed according to general rules.