8291

Procedure for Authorization and Trade Register Aspects for CAEN 8291

Setting up a company whose main activity is CAEN code 8291 (Activities of collection agencies and credit reporting offices) involves going through the standard registration stages at the Trade Register (ONRC), with specific mentions. When submitting the registration application, a sworn statement is completed in accordance with Law 359/2004, whereby the administrator confirms compliance with the operating conditions. No prior approvals from special authorities are required for operating authorization, but it is mandatory to correctly declare the main and secondary CAEN codes, as well as the detailed scope of activities, which must expressly include debt collection and/or credit reporting activities. In practice, ONRC may request clarifications regarding the nature of the activity, especially if conducted concurrently with consultancy or legal activities.

Regulatory Framework, Specific Approvals, and Control Institutions

The performance of CAEN 8291 activities is subject to sectoral regulations. Collecting third-party debts involves compliance with the provisions of Government Emergency Ordinance no. 52/2016 on consumer credit contracts, as well as Law no. 334/2006 on debt recovery. In the case of credit reporting, BNR Regulation no. 1/2011 on credit records and the Credit Register applies. No operating approvals are issued by the BNR or ANPC, but the activity is monitored by the National Authority for Consumer Protection (ANPC) and, for credit reporting, by the National Bank of Romania. For debt collection, registration as a personal data operator with the National Supervisory Authority for Personal Data Processing (ANSPDCP) is required, in accordance with GDPR, as personal data of debtors is processed. Failure to obtain this registration may lead to substantial sanctions. Furthermore, the company must comply with the provisions of Law no. 72/2022 on consumer protection in the field of financial services.

Tax Management, ANAF Audit Risk, and Specific Accounting

From a fiscal perspective, income from collection (commissions) and reporting (subscription fees) is taxed according to the Fiscal Code. The standard VAT rate (19%) applies to services provided, with the possibility of exemption if related financial services are provided. The obligation to use the RO e-Factura system becomes mandatory as of 1 January 2025 for all service deliveries. Accounting must separately highlight provisions for non-performing receivables and recovery expenses. ANAF has a high audit risk for this code, as significant cash transactions or cross-border settlements may be recorded. It is recommended to prepare an accounting policy regarding revenue recognition (IFRS 15 or OMPF 1802/2014) and periodically test the tax base. The tax vector must be updated upon registration, including corporate income tax and VAT. Monthly declarations (D300, D394) must be accurately submitted, and for reports to the BNR, the single declaration regime applies for income assimilated to salaries in the case of collaborators. Omission of registration as a data operator may lead to the suspension of activity by ANSPDCP.