Portugal: CAE Rev.4 Classification Update

Portugal has introduced a new version of the CAE (Código de Atividade Económica)—the national classification system that identifies and categorises the economic activities performed by companies in Portugal. CAE Rev.4 is derived from NACE Rev.2.1, approved under Commission Delegated Regulation (EU) 2023/137 of 10 October 2022, and became effective on 1 January 2025. The revised CAE system applies to all companies that pursue an economic activity, requiring each entity to determine whether its current classification has been affected by the update. Statistics Portugal (INE) is the competent authority for managing CAE codes and implementing the revised classification.

Key changes and requirements

CAE Rev.4 updates Portugal’s national activity classification to align with the revised European NACE Rev.2.1 structure. Companies must review the impact of the changes on their specific CAE code, typically in coordination with a Portuguese certified accountant who will confirm whether updates are required.

If a CAE code change is necessary, the certified accountant will process the update through the relevant official system. The information provided does not specify any requirement to amend corporate constitutional documents solely because of a CAE update, nor does it identify a mandatory set of documents for companies to prepare.

The legislation does not establish specific penalties for failing to update CAE information. However, companies are expected to maintain accurate classifications in line with INE requirements.

How can we help?

Computershare’s Global Entity Compliance team of professionals can provide further information upon request. We can also assist with amending your articles of association and help maintaining accurate entity data and through the GEMS platform.

Contact

Please contact your dedicated Computershare Relationship Manager or send an email to #GLCGSGECNetworkManagement@computershare.com for more information about how Computershare may assist you in responding to these new requirements.

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