News: Registration of company in North Macedonia

The Republic of Macedonia is located in the center of the Balkan Peninsula, and was established as a result of the collapse of Yugoslavia. Macedonia shares its borders with such countries as Greece (in the south), Albania (in the west), Serbia (in the north), Bulgaria (in the east). The area of the country equals to 25,713 km². The capital is the city of Skopje.

About 2 million people reside in the country. Approximately 64% of them are Macedonians, 25% - Albanians. The residents of Macedonia are predominantly Orthodox Christians. Catholicism, Islam, and Protestantism are also practiced.

The official language is Macedonian. Albanian language has the status of of the second official.

Monetary unit is the dinar, the exchange rate of which is adhered to euro.

The climate of Macedonia has features of transitional one from moderate to subtropical. Cold and often snowy winters and warm summers and autumns are typical for the country.

Macedonian relief is mostly mountainous, and the territory is divided in half by the valley of the Vardar River. About 35% of the country is covered by forests.

If you want to register a company in Macedonia, it is worth to be aware of those types of companies, which can be established in the country by a foreign investor.

Forms of doing business in Macedonia.

Today, the Macedonian government is making efforts aimed to make the state attractive for foreign investors as much as possible. The main part of cooperation is achieved with small and medium-sized enterprises.

Company formation in Macedonia is possible in the form of:

• Sole proprietorship;
• Limited Liability Company;
• Partnership;
• Public joint-stock company.

Limited liability company (LLC) is of the greatest interest for the investor.

Company formation in Macedonia. Features.

• In order to register company in Macedonia, it is necessary to prepare three names for it and submit them for consideration to the relevant state authorities. Verification usually takes not much time. As a result, the founder(s) shall be informed concerning reservation of one name for the company.
• In the registration form it is necessary to specify the scope of activities of the company and set forth the shareholders’ structure. It is also necessary to submit data about the addresses of the founders and the types their professional activities. The candidacy of potential CEO of the company shall be submitted.
• The amount of charter capital usually equals to € 5 000 and shall be paid at moment of registration or within 12 months from the date of registration.
• Any person, regardless of citizenship and nationality, can become director or shareholder of Macedonian company.
• Natural persons and legal entities can become shareholders of the company in Macedonia.
• Company shall appoint manager.
• Legal address shall be located in the territory of Macedonia.
• During registration process copies of passports of the founders and utility bills are used.
• There is no need in being present in Macedonia in person for establishing company. It is enough to have an authorized representative who will act on your behalf based on the obtained power of attorney.
• Documents required for registration of the company in Macedonia are to be translated by an authorized translator and notarized.
• The fact of registration of the company shall be put on the Central Register of the Republic of Macedonia.

Once the company obtains certificate of registration, the shareholders can order the seal, for which the company’s registration certificate is provided.

As a rule, the term required to register company in Macedonia shall not exceed one week. All the procedures are often completed faster.

Taxes in Macedonia.

• Macedonian company is taxed at the rate of 10%. This indicator is one of the lowest among European countries.
• VAT in Macedonia equals to 18%.
• Macedonian company pays tax on dividends in the amount of 10%.
• Subject to certain conditions, company in Macedonia can obtain even zero (0%) rate on retained income.

In general, the tax climate of Macedonia is rather favorable for the development of small and medium-sized businesses, which attracts a large number of investors.

We offer to register or buy company in Macedonia at a low price and start a successful international business. Registration of business in Macedonia is fast and not troublesome procedure, if the services on preparation of documents are provided by the specialists of our company. Registration of companies (including offshore companies), trusts, holdings, business in Macedonia is important direction of our work.