Activities of financing subsidiaries (PKD 64.22.Z)

• activities of entities established by a financial or non-financial group in order to raise or borrow funds (often on the open market) and transfer these funds to the parent entity or another entity within the group,
• activities of subsidiary financial institutions involved in intra-group lending,
• activities of companies raising financial resources and transferring these resources to the parent entity, owned directly or indirectly by a non-resident business entity, the greater part of whose balance sheet consists of claims against and liabilities to non-resident business entities, and which employs few or no employees and has little or no physical presence at the place where the business entity is registered.

• activities related to the management of public funds and public debt, classified in 84.11.Z.

This group includes the activities of legal persons (for example funds, trusts) investing in securities or other financial assets on behalf of shareholders or beneficiaries without managing or administering them. Securities portfolios are constructed to achieve specified investment returns taking into account the following criteria (for example diversification, risk, rate of return, price volatility). These investment entities paying dividends and other property income have little (or no) employment and little or no sales revenue from their services.

• This group does not include: - activities of entities obtaining income from the sale of goods or services, which are classified according to their principal activity in the relevant subclasses of other divisions (for example in division 66 for fund management, in division 68 for rental and management of real estate or in division 77 for rental and leasing of ships or aircraft)
• securitisation transactions carried out through the issue of financial instruments, classified in 64.92.B,
• securitisation transactions of assets other than loans and advances through the issue of financial instruments, classified in 64.99.Z,
• activities of fiduciary accounts, real estate accounts and agency accounts that obtain income from the sale of goods or services, classified in the relevant subclasses of the classification according to their principal activity.