SETTING UP A BUSINESS

Registering a Company. The current Company Law is effective since 2004. The amendment to the Company Law in 2005 facilitated the start of the Central Register at the beginning of 2006, as the body authorized to perform all company registrations and maintain a trade register of all companies. This is the primary law regulating business activity in Macedonia. It defines the types of companies, procedures and regulations for their establishment and operations.

ONE STOP SHOP

Macedonia has introduced a ONE-STOP-SHOP SYSTEM that enables investors to register their business after 2 hours of submitting an application. One can register a company in Macedonia by visiting one office, obtaining the information from a single place, and addressing one employee. This significantly reduces administrative barriers and start-up costs.

WORK VISAS & PERMITS

Foreign residents can easily establish employment in the Republic of Macedonia, after getting an appropriate visa or permit from the Ministry of Foreign Affairs, i.e. Diplomatic-consular offices abroad.

Nationals of EU member-states, as well as nationals of the state-parties to the Schengen agreement may enter the Republic of Macedonia presenting a valid identity card issued by the competent authorities of the EU member-states or the state-parties to the Schengen agreement.

TAXES, CUSTOMS AND OTHER INCENTIVES

  • 10 YEAR TAX HOLIDAY – Investors in the free zones are entitled to a 10-year tax holiday for profit and corporate tax and 100% reduction of personal income tax for a period of up to 10 years. Investors are exempt from payment of value added tax for import and trade of goods in the free zones. Additionally, investors are exempt from payment of customs duties for equipment, machines and spare parts.