Monaco is preparing to modernise how it identifies and classifies businesses, with a new system set to take effect from 1st January 2026. The update comes in response to the rapid evolution of professions, particularly those shaped by digital technology.
The Principality will adopt “NAF 2025,” a revised version of the French activity classification system used to group companies according to their main economic activities. The current system, NAF 2008, is based on older European and international standards dating back nearly two decades.
“Since the introduction of NAF 2008, the professional landscape has transformed significantly,” explained Alexandre Bubbio, Director of Monaco’s statistics body, IMSEE. “Entirely new industries have emerged, driven by technology and innovation. It’s vital that our classification keeps pace with reality.”
IMSEE will lead the process of reclassifying all registered businesses, using artificial intelligence to analyse their stated activities and ensure they are accurately coded. Companies can expect to receive written notifications explaining their new classification code, along with access to a dedicated telephone support centre to address any queries.
The updated codes will be shared with key administrative departments, including tax authorities and social security offices, ensuring consistency across government records. Officials say the move will help Monaco maintain an accurate and up-to-date understanding of its economic fabric — a crucial step in supporting future growth and policymaking in an increasingly digital economy.
