Got Questions? We’ve Got Answers!

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  • How do I register a company?

    You can register a company in Macedonia by visiting a single counter and addressing a single employee. The one-stop-shop system for registering a company operates within the Central Register via 28 electronically integrated offices located throughout Macedonia.
  • How long does it take to register a business?

    You can register a business in Macedonia in just 4 hours.
  • What documents do I need to register a company?

    When registering a company as a physical entity, the following documents are required before you go to the Central Register:

    1. A contract establishing the company, or a statement establishing the company if it is established by single person, with all attachments including the power of attorney for the proxy certified by a notary;
    2. Copy of passport or ID card if the founder is a natural person or proof for registration of the parent company if the founder is a legal entity;
    3. Decision on appointment of a manager of the company, if it isn’t stated in the contract for establishing of the company, in which decision shall be stated: the given name and surname of the manager, his personal number (EMBG in Macedonia), passport number or ID number, his/her citizenship and place of residence;
    4. Statements of all of the managers of the company that they accept their appointments certified by a notary. If the contract for establishing the company stipulates that the company shall be managed by more than one manager, but it shall be officially represented only by one of the managers, with or without a proxy, then statement that he/she accepts the representation of the company in the manner specified in the contract for the establishing of the company shall be required;
    5. The decision for appointment of the supervisory board members, if the company in its organizational structure had foreseen a supervisory authority, in which decision shall be stated: the given name and surname, personal number (EMBG in Macedonia), passport number or ID number, his/her citizenship and place of residence;
    6. Statement of the legal representative of the legal person, or a statement of the natural person, certified by notary that there are no legal obstacles for it/him/her to be the founder of the company as stated in Article 29 of the Company Law;
    7. Statement of incorporation, statutory amendments and transformation of the company as stated in Article 32 of Company Law. We suggest that you arrive prepared with several different names for the company, in case your first preference is not available.

  • How much does it cost to register a company?

    The Central Register fee for registering a limited liability company is approximately €40. You can expect minimal additional expenses for court translations and notary certifications of the required documents (around €3-€5 per page).
  • What are the most common types of companies that are registered by foreigners in Macedonia?

    The most common types of companies are limited liability companies, joint stock companies, representative offices and branches.
  • What is the minimum capital requirement for registering a company in Macedonia?

    You do not have to deposit any money to establish a company. The minimum capital requirement of €5,000 for a limited liability company registered as a foreign direct investment has to be deposited within one year of founding through monetary contribution via remittances in domestic commercial banks in temporary accounts.
  • How do I open a bank account in Macedonia?

    To open a bank account in a commercial bank in Macedonia you need the following original ornotary certified documents

    • written request for opening the account
    • certificate from the company register not older than 6 months
    • evidence of assigned tax number
    • certificate from the company register not older than 12 months
    • notarized signature of the company manager.

  • In which cases do I need additional approvals for operating out of Macedonia?

    To operate in certain fields, such as pharmaceuticals, banking, insurance, and educational activities, the company registration process is followed by a licensing process with the relevant authorities. A license or other act issued by a relevant authority shall be necessary to be presented to the Central Register in order to complete the registration of the company in such case. The employees in the Central Register are trained to direct newly registered companies to the appropriate licensing authorities.
  • What is Macedonian government policy regarding overseas companies doing business in Macedonia?

    The Constitution and the Law on Trade Companies guarantees equal treatment for domestic and foreign entities. Additionally, one of the Government’s top priorities is to attract foreign direct investments in the country. InvestMacedonia through its economic promoters stationed around the world, target companies in priority countries to meet potential investors.
  • Which law regulates company registration?

    The Law on Trade Companies (Official Gazette no. 28/2004, 84/2005, 71/2006, 25/2007, 87/2008, 17/2009, 23/2009, 42/2010, 48/2010, 8/2011, 21/2011, 24/2011) governs the establishment and organization of a company. The Law on Trade Companies is fully harmonized with EU directives and regulations. There are numerous local legal firms specialized in corporate law which are readily available for help.
  • Which multinationals are already working in Macedonia?

    Johnson Controls, Johnson Matthey, Van Hool, Amphenoil , Kemet Elect ronics, Technohose, Protek, Deutsche Telekom, Mobilkom Austria, Telekom Slovenije, EVN, Duferco, ArcellorMittal, QBE, Societe Generale, Steiermarkische Bank und Sparkassen AG, Prokredit Holding AG, Hypo Alpe Adria Leasing, Nova Ljubljanska Banka, ERA Group, Soravia etc.
  • How can I visit Macedonia?

    Citizens of the USA, Japan, and the European Union member states and Schengen Convention signatories can fulfill the right to enter the Republic of Macedonia without entry visas. Citizens of other countries must apply for a visa at the Macedonian Embassy or Diplomatic-Consular Office abroad. For visa requirements please consult your domicile foreign affairs office. For a complete list of all countries and visa requirements for Macedonia please visit www.mfa.gov.mk.
  • How can I reach Macedonia by plane?

    Macedonia is well connected to the entire world through direct flights to Skopje Alexander the Great airport from: London, Vienna, Rome, Zurich, Dusseldorf, Prague, Budapest, Ljubljana, Zagreb, Belgrade, Istanbul, Paris, etc. Another international airport is located in the city of Ohrid, in the southwest.
  • How do I get authorization to work in Macedonia?

    Foreign citizens can apply for work visas at the relevant Embassy or consular office of the Republic of Macedonia. Once a work visa is obtained, upon your arrival you may apply for a work permit at the Employment Agency of the Republic of Macedonia.
  • Can foreign investors acquire rights to real estate in Macedonia?

    Foreign entities can directly own or lease property in Macedonia, according to the Law on Construction Land (Official Gazette of the Republic of Macedonia No. 82/08 from 08.07.2008).
  • What sort of help can I expect to receive in choosing a business premise?

    InvestMacedonia can help in identifying a suitable real estate agency in Macedonia. Also, based on your specifications, we can identify adequate state-owned land and buildings.
  • What is the cost of renting office space?

    Office space rent ranges from €7.5 – €22.5 m 2/month, depending on the class of the building with an average of €10 – €12 m2/month in Skopje.
  • What is the cost of construction land in Macedonia?

    State owned construction land is sold or leased through a public tender procedure. Currently, the initial price of the public bidding for sale of unused construction land, which according to the detailed urban plan is intended for construction of industrial and commercial facilities and hotel buildings, starts with 1 Euro per square meter throughout the country.
  • How much does a square construction meter cost?

    On average, a square construction meter for a construction shell costs around €170/m2 – €210/m2
  • What is the average monthly gross salary?

    The average gross monthly salary is €502 (11.2013), one of the lowest in Europe.
  • What freight companies can I use?

    In addition to excellent local companies, numerous multinationals also operate in Macedonia. For further details refer to www.mfa.org.mk.
  • What is the cost of electricity?

    The price of electricity is determined by the Energy Regulatory Commission of the Republic of Macedonia.
  • What is the cost of gas?

    The price of natural gas is determined by the Energy Regulatory Commission of the Republic of Macedonia (ERC). The cost of 1m natural gas for consumers directly connected to the distribution system is €0.47 with 18% VAT included in the price (decision from ERC dated 20.01.2014).
  • What is the cost for telephone installation?

    • Initial connection fee for a standard (PSTN) line: ~ €1
    • Initial connection fee for a digital (ISDN 2) line: ~ €20

  • Can I export to Europe/overseas?

    Macedonia has signed free trade agreements with the EU, EFTA and CEFTA countries, as well as Turkey and the Ukraine. These provide free access to over 650 million consumers. Macedonia was officially admitted to the World Trade Organization in 2003.
  • What are the average duty levels in Macedonia?

    • Industrial products: 3%
    • General average: 8%

  • I am looking for a business partner – who can I contact?

    The most important business associations in Macedonia are The Economic Chamber of Macedonia, the Macedonian chambers of commerce and Economic Chamber of North-West Macedonia. Additionally, the IT companies are joined into the Macedonian ICT Chamber of Commerce – MASIT.
  • Is intellectual property rights protection effective in Macedonia?

    The Intellectual Property Protection Rights, including copyrights, are regulated by the Law on Copyright and Related Rights, and industrial property rights are regulated by the Law on Industrial Property. A department within the Ministry of Culture is responsible for the protection of copyrights and other related rights, while the Industrial Property Protection Office (IPPO) is responsible for industrial property rights.
  • What auditing standards does my company need to abide by?

    The central law regulating auditing in Macedonia is the Company Law. Company auditing is carried out in accordance with IFAC’s International Standards of Auditing as published by the Ministry of Finance in the Official Gazette of the Republic of Macedonia, updated on an annual basis.
  • What accounting standards does my company need to abide by?

    Financial reporting is carried out in accordance with the International Accounting Standards published in the Official Gazette of the Republic of Macedonia. The most recent annually updated IAS/IFRS are the valid financial reporting standards in the Republic of Macedonia.
  • What kinds of companies can be established in the TIDZs?

    The Technological-Industrial Development Zones have been established to host high-tech clean industry production that is export-oriented.
  • What infrastructure solutions are offered in the Zones?

    Companies operating out of the TIDZs are offered free connection to utilities such as natural gas, water, electricity, and access to a main international road network.
  • How can I obtain information about purchasing securities?

    The official stock exchange market of the Republic of Macedonia is the Macedonian Stock Exchange (www.mse.com.mk). Trading in securities on the Stock Exchange is done through brokerage houses and banks who are members of the Macedonian Stock Exchange. Trading on MSE can be arranged directly with a local brokerage house or indirectly through other foreign brokerage houses or banks that have a relationship with local brokerage houses or banks. For direct trading the relationship with local broker(s) and banks has to be established by signing an agreement with the local broker.
  • What are brokerage houses in Macedonia?

    Brokerage houses are the legal entities that perform activities of trading with securities and that are official members of the MSE (Macedonian Stock Exchange). A full list of official brokerage houses can be found on the web-site of the Securities and Exchange Commission of the Republic of Macedonia (www.sec.gov.mk)
  • What kinds of securities are traded on the Macedonian Stock Exchange?

    On the Macedonian Stock Exchange, you can trade with shares, bonds and other securities (bills, notes, CD’s etc.). Currently on MSE only Treasury bills (T-bills) issued by the Ministry of Finance of the Republic of Macedonia are traded on a separate market segment.
  • What is the MSE index?

    The official index of the Macedonian Stock Exchange is MBI-10, a weighted index of the 10 most liquid shares on the MSE. Two other indices are the MBID, the index of publicly held companies, and the OMB, the bond index.
  • Are there restrictions for transferring funds to and from Macedonia?

    There are no restrictions for transfers of funds from a current account based on an invoice or other type of agreement or appropriate document. Profits and dividends from inward investments can be freely transferred abroad after taxes are paid. Also, there are no regulatory restrictions on foreign investments by non-residents in Macedonia. Credit transactions between residents and non-residents can be freely arranged and have to be registered at the Central Bank. Non-residents can freely open non-resident accounts in Macedonian banks.
  • What is the average gross salary? What is it comprised of?

    The average gross monthly salary in Macedonia in 2015 is € 502, one of the lowest in Europe. This amount includes the net salary, personal income tax (10%) and social contributions for:

    • pension and disability insurance
    • health insurance
    • employment insurance
    • additional health insuranc

  • On average, what is the skill set that a prospective employee would possess?

    The average Macedonian employee possesses good linguistic, interpersonal, and teamwork skills. In general, Macedonian education is concentrated on providing a broad set of knowledge to the future workforce.
  • What percentage of the population speaks English? What other languages are in use?

    Every child in Macedonia begins to learn English in the first grade of primary school. In the sixth grade a second foreign language is introduced as mandatory, and a third as optional. Two foreign languages are mandatory in high school as well: English, and one of German, French, or Russian. Also, the system of higher education entails two years of professional English. Regional languages (Serbian, Bulgarian, Albanian, Greek and Turkish) are widely understood and spoken.
  • Are there any international schools in Macedonia?

    Numerous private international educational institutions exist in Macedonia, both European and American, starting from pre-school all the way to university. The Ministry of Education maintains a listing of accredited educational institutions.
  • How do I find the right Macedonian staff for my business?

    Numerous HR companies and recruitment agencies operate in Macedonia. Invest Macedonia can provide useful contacts upon request. Under what circumstances does the employer have the right to terminate the employment contract? According to the Law on Labor Relations, employment can be terminated in the following cases:

    • By agreement between the employer and employee
    • Upon expiry of a fixed–term of employment
    • When enforced by law
    • By notice, supplied either by the employer or the employee
    • Due business reasons (e.g. restructuring)


One More Question?

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