What does NACE code stand for?
the general nature of the activity and the appropriate NACE Code Classification (the NACE code is the common basis for statistical classifications of economic activities within the E.C. set out in the Annex to Council Regulation (EEC) No.
What is NACE code in France?
The Statistical Classification of Economic Activities in the European Community, commonly referred to as NACE (for the French term “nomenclature statistique des activités économiques dans la Communauté européenne”), is the industry standard classification system used in the European Union.
What is a NACE code Ireland?
The NACE code is the common basis for statistical classifications of economic activities within Ireland. The four digit NACE code and general nature of activity must correspond with the proposed company’s principal objective in the accompanying memorandum of association.
Are NACE and SIC codes the same?
The UK Standard Industrial Classification (SIC) 2007 is the national version of “The Statistical Classification of Economic Activities in the European Community (NACE) Rev. 2” and as such must be identical to NACE Rev 2, down to and including the fourth digit of the system.
Why NACE is required?
NACE MR0175 is titled: Petroleum and Natural Gas Industries — Materials for use in H2S-containing environments in oil and gas production. It was issued as a recommendation of threshold limits of H2S above which precautions against environmental cracking are considered necessary.
What is a SIC NACE code?
The NACE codes are a standard classification system of similar European industries in function to Standard Industry Classification (SIC) and North American Industry Classification System (NAICS) for classifying business activities. The use of NACE codes is compulsory within the European statistics system.
Can you change your NACE code?
Once incorporated the constitution document can be changed by way of a special resolution after incorporation. The principal activity must match the NACE code set out in the online application form A1.
Do Irish companies have SIC codes?
Industrial classification of companies in Northern Ireland Each company can operate under multiple SIC codes.