Located in the very center of the Balkans, Macedonia borders on Greece, Albania, Serbia, and Bulgaria. The country’s official currency is the MKD, and it is pegged to the Euro.
The government of Macedonia is doing its best to attract foreign direct investment and is largely successful in its attempts. Investor-friendliness of the country is one of the main reasons to register a company in Macedonia.
Business Organization Forms
The easiest way to set up a company in Macedonia is to establish an LLC. Also, you have an opportunity to open a partnership in Macedonia, an individual enterprise or a joint-stock company.
Both the director and shareholders of a Macedonian company can be citizens of any country. Those seeking to start their own business in Macedonia should keep in mind that shareholders of a company can be both individuals and legal entities.
You will have to submit 3 variants of company name for verification, one of which will subsequently be reserved for your company.
Establishing a company in Macedonia normally takes from 1 to 2 weeks.
Registering a Macedonian company remotely requires appointing an authorized representative, who will provide support in opening a company in Macedonia by using the power of attorney.
Please note that:
- all data on the founders of the company and its director must be provided to the regulator;
- the company’s share capital must be 5,000 euros and paid at the time of registration (by the end of the first year);
- there must be at least one manager;
- company registration must be reflected in the Central Register;
- dividends received by foreigners can be transferred in any currency of the world;
- there are no exchange controls;
- all data on beneficiaries is confidential.
- Macedonia has signed DTAAs with 49 countries.
One of the main requirements for setting up an IT company in Macedonia (or any other type of company) is having a legal address in the country.
Your Macedonian company will be taxed at the rate of 10%, which is one of the lowest tax rates in Europe. VAT is 18%, while the dividend tax is 10%. There is no tax on retained earnings.
Registering an LLC in Macedonia takes from 2 to 8 business days from the date of submission of all the required documentation to the Central Register.
Renting an office costs 35 euros per month or 420 euros per year. The rent must be paid in advance.
You can set up an office in Macedonia to open an account for your company. By setting up an office, you avoid being taxed. That is, the cost of office maintenance will be limited by the cost of the paid legal address (up to 500 EUR per year).
Interested in registering a Macedonian company? need advice on opening a corporate account with a Macedonian bank? Why not contact YB Case?