COREDO > Company Formation in North Macedonia

Company Formation in North Macedonia

Why Register a Company in North Macedonia

The Republic of North Macedonia is a developing Balkan jurisdiction with one of the lowest tax rates in Europe and a favourable environment for foreign investors.

The country offers access to European markets, no currency restrictions, government support for businesses, and the possibility of obtaining a residence permit after company registration. North Macedonia attracts international projects with competitive taxation, a simple business structure, and a stable economic environment.

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Types of Companies in North Macedonia

Several legal forms are available to foreign entrepreneurs for doing business in North Macedonia.

DOOEL or DOO — limited liability company.

DOOEL involves a single founder, while DOO requires several founders (up to 50 participants). This is the most popular form of business for both local and foreign entrepreneurs. The minimum share capital is EUR 5,000.

AD (Akcionersko Društvo) — joint-stock company.

At least two founders are required, who may be either natural or legal persons. The minimum share capital is EUR 25,000. This form is suitable for large-scale projects requiring significant investment.

Representative office of a foreign company.

Foreign companies may register an official representative office in North Macedonia without the need to establish a separate legal entity. The representative office acts on behalf of the parent company and is not an independent legal subject.

KD (Komanditno Društvo) — limited partnership.

This form requires at least one general partner with unlimited liability and one or more limited partners whose liability is restricted to the amount of their contribution. KD is suitable for projects where one partner manages operations while others act as investors.

JTD (Javno Trgovsko Društvo) — general partnership.

All participants bear unlimited joint and several liability for the company’s obligations. This form is used less frequently but may be appropriate for small joint ventures with a high level of trust between partners.

Company Registration Procedure

Registration of legal entities in North Macedonia is carried out through the Central Registry of the Republic of North Macedonia (Centralen Registar). The Central Registry operates on a One-Stop-Shop principle, allowing the registration process to be completed in an expedited manner — in some cases within four hours. Foreign investors enjoy the same rights and privileges as local entrepreneurs.

The main registration steps include:

Selecting and reserving a unique company name with the Central Registry.
Preparing the founding agreement and articles of association with all required details.
Opening a temporary bank account and depositing the share capital.
Submitting the complete document package to the Central Registry.
Receiving the registration certificate and unique identification number (EMBS).
Registering with the tax authorities and VAT registration (if required).

Upon completion of registration, the company obtains legal entity status and may commence business activities. Where necessary, COREDO also assists with obtaining additional permits and licences for specific types of activities.

Required Documents

The following documents are required for company formation in North Macedonia:

the founding agreement and articles of association specifying the company name, registered office, share capital amount, and founder details;

identity documents of the founders and directors (passports or other identification);

proof of a registered office in North Macedonia (lease agreement or proof of ownership);

confirmation of share capital deposit into a bank account;

power of attorney for an authorised representative (for remote registration).

All documents in foreign languages must be translated into Macedonian and certified by a licensed local translator. COREDO specialists assist with the preparation, translation, and notarisation of all required documents.

Registration Timeframe

Company formation in North Macedonia typically takes approximately one week. Personal presence of the founders is not mandatory — the procedure may be carried out remotely through an authorised representative, which significantly simplifies the process for foreign investors.

Opening a Bank Account

Having a bank account with a Macedonian bank is a mandatory requirement for company registration. Opening an account is usually possible on the day of application; however, if additional security checks are required by the bank, the procedure may take 4 to 8 business days. To open a corporate account, the company’s registration documents, identity documents of directors and founders, and information about the intended business activities are required. North Macedonia does not impose currency restrictions, allowing free international transfers and currency conversion.

Cost of Services

The cost of company formation services in North Macedonia depends on the chosen legal form, the complexity of the corporate structure, and the scope of additional requirements. To receive a personalised quote, contact our specialists — we will prepare a detailed proposal tailored to your specific situation and business objectives.

Tax System of North Macedonia

North Macedonia offers one of the most attractive tax systems in the region. The corporate income tax (CIT) rate is 10%. The standard value-added tax (VAT) rate is 18%, with reduced rates of 5% and 10% applying to certain categories of goods and services. The personal income tax rate is also 10%.

The tax year coincides with the calendar year. The corporate tax return must be filed by the end of February of the following year, or by 15 March for electronic filing. During the year, companies are required to make monthly advance CIT payments. There are no municipal taxes on corporate income in North Macedonia, and no stamp duties are levied, making the jurisdiction even more attractive for business.

An additional incentive for investors are the Technological Industrial Development Zones (TIDZ), where companies may receive tax incentives and credits. Enterprises registered in these zones benefit from special conditions on corporate tax, VAT, and customs duties, significantly reducing the overall tax burden.

Resident companies pay tax on worldwide income, while non-residents are taxed only on income derived within North Macedonia. The country has active double taxation avoidance agreements with a number of states, providing protection against double taxation for international companies.

Our Experts

The COREDO team has been operating since 2016 and possesses deep expertise in company formation across various jurisdictions in Europe and beyond.

Nikita Veremeev

Founder & NED of COREDO. Founded the company in 2016 and personally oversees the strategic development of business across dozens of jurisdictions.

Pavel Kos

Head of Legal. Part of the COREDO team since June 2017, responsible for legal support of corporate projects and company formation.

Basang Ungunov

Lawyer. Part of the COREDO team since June 2022, specialising in legal support for company formation and structuring across various jurisdictions.

Frequently Asked Questions

Is North Macedonia a member of the European Union?

No, North Macedonia is not currently an EU member state, but it holds candidate country status. Nevertheless, the country is actively harmonising its legislation with European standards, creating a favourable and predictable legal environment for doing business.

What is the minimum share capital for an LLC (DOOEL) in North Macedonia?

The minimum share capital for a limited liability company (DOOEL — single founder or DOO — multiple founders) is EUR 5,000. The capital must be deposited into a bank account prior to company registration.

Is the personal presence of the founder required for company registration?

No, personal presence of the founders is not mandatory when registering a company in North Macedonia. The procedure may be carried out remotely with the involvement of an authorised representative.

What tax advantages does North Macedonia offer?

North Macedonia offers one of the lowest corporate tax rates in Europe — 10%. There are also no municipal taxes on corporate income, and reduced VAT rates (5% and 10% instead of the standard 18%) apply to certain categories of goods and services.

How long does it take to open a bank account after company registration?

Opening a bank account in North Macedonia is usually possible on the day of application. However, in some cases involving additional bank checks, the procedure may take 4 to 8 business days.

What currency is used in North Macedonia?

The national currency of North Macedonia is the Macedonian denar (MKD), introduced in 1992. For share capital calculations and many international transactions, the euro is used. There are no currency restrictions in the country, simplifying international business operations.

What legal forms are available to foreign entrepreneurs?

Foreign entrepreneurs have access to all legal forms provided by North Macedonia’s legislation: limited liability company (DOOEL/DOO), joint-stock company (AD), limited partnership (KD), general partnership (JTD), and representative office of a foreign company. The most popular form for foreign investors is the single-founder DOOEL.

Are there tax incentives for companies in North Macedonia?

Yes, in addition to the low base corporate tax rate (10%), companies registered in Technological Industrial Development Zones (TIDZ) may receive additional tax incentives and credits. The country also has no municipal taxes on corporate income and no stamp duties.

Order a Consultation

COREDO specialists provide full support throughout the company formation process in North Macedonia — from document preparation to obtaining the registration certificate and opening a bank account. We have been operating since 2016 and help entrepreneurs from dozens of countries successfully build business structures in Europe and beyond.