Company registration in North Macedonia

The Republic of North Macedonia is a small country situated on the Balkan Peninsula in Southeastern Europe. Formerly a part of Yugoslavia until 1991, it now stands as an independent parliamentary republic. North Macedonia is not a member of the European Union, with the Macedonian denar serving as the local currency since 1992.

While the country’s economic development is relatively modest, overall stability characterises its economic landscape. Presently, low inflation rates prevail, and foreign entrepreneurs are offered favourable conditions for conducting business. Small and medium-sized enterprises form the majority of the market share. The key sectors of the Macedonian economy include the service industry, manufacturing (particularly in chemicals and textiles), and agriculture.

ADVANTAGES OF REGISTERING A COMPANY IN NORTH MACEDONIA

North Macedonia actively encourages foreign investment, offering support programs and certain benefits at the state level to non-resident businessmen. Moreover, registering a company in this jurisdiction presents the following advantages:

one of the lowest tax rates in Europe, with income tax set at 10% and VAT at 18%;
confidentiality for beneficiaries;
absence of exchange controls;
convenient geographical location;
easy access to European markets;
opportunity to obtain a residence permit after registering an enterprise.

AVAILABLE TYPES OF BUSINESS ORGANISATION IN NORTH MACEDONIA

Among the legal forms available to foreign businessmen in North Macedonia, the most popular options include:

DOOEL or DOO — a limited liability company. DOOEL requires a single owner, while DOO must have multiple founders. This option is popular with both foreign and local businessmen. The minimum authorised capital required is 5,000 euros.
JSC — a joint-stock company. With a minimum authorised capital of 25,000 euros, this option mandates the involvement of at least two founders, who can be individuals or legal entities.

Additionally, foreign entrepreneurs have the opportunity to register an official representative office of a company operating in another country in North Macedonia.

FEATURES OF COMPANY REGISTRATION IN NORTH MACEDONIA

The process of registering a company in North Macedonia is relatively straightforward. All documents must be translated into Macedonian and certified by a licensed local translator. Additionally, having an account in a Macedonian bank is a prerequisite. Typically, the bank account can be opened without complications on the day of application. However, in some cases, due to additional checks by the bank’s security service, the procedure may take 4–8 days. Furthermore, when registering a company in North Macedonia, a local legal address will be required.

Company registration in North Macedonia usually takes about a week, and the personal presence of the founders is not mandatory. By utilising the assistance of COREDO employees, you can expedite this process as much as possible and navigate any potential difficulties associated with local legislation and bureaucratic intricacies.

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