North Macedonia LLC
NORTH MACEDONIA – mountainous country, located in the heart of the Balkans. Rich in history and also in cultural heritage, it is a country well worth visiting. It still preserves untouched nature and offers beautiful views from the mountain tops. It strives to attract as much investment as possible, and as such provides favorable laws for foreigners who want to live in it.
North Macedonia LLC
Flexible business solutions and laws that allow foreigners to operate smoothly make Northern Macedonia increasingly attractive to foreigners that want to establish their new companies.
LLC is the most common form of legal entity. More than 80% of legal entities in North Macedonia are LLCs. This company form is best suited for small and medium business.
Foreign persons, regardless of their citizenship or residency, can be the founders/shareholders of the LLC.
What are the main features of a Limited liability company?
- Founding capital 5000 euro
- Time required for establishment 10 days.
- Only the basic documentation for the establishment is needed.
- It can be opened without the presence
- 10% corporate and dividend tax
- Company is required to appoint a qualified accountant.
- Director of LLC doesn’t need to be citizen of North Macedonia
LLC is a tax subject and all income generated through company is subjected to 10% corporate tax
After registering a company in North Macedonia, a foreigner should remember that even if the company does not conduct economic activities this does not exempt a foreigner from making tax reports (even wth 0 profit) and paying other taxes, such as corporate and personal income tax on their employees.
LLC is responsible in front of the shareholders only with the assets.
In case of bankruptcy, shareholders of LLC are not obligated to pay the company’s debt.
If you are resident of the country by which the Republic of North Macedonia has concluded a Double Taxation Avoidance Treaty you can optimize taxation in order to reduce operation costs.
Some of the main costs that foreign companies have while doing business in North Macedonia are accounting and address costs for their office.
Qualified accountant must be appointed so that the company can function properly.
Companies that have a minimum number of transactions, pay 50 euros per month.
Companies with an average number of transactions pay up to 100 euros per month.
Virtual address is not allowed in North Macedonia, but physical address price is lower than in other western European countries and it varies from 130 to 200 euros for small office space in capital town of Skopje.
Corporate bank account
Together with the company, two bank accounts are opened at the same time in order to enable uninterrupted business.
For those who form company in North Macedonia big advantage is that banks are very lenient when it comes to dealing with transactions on corporate bank account. Most companies, regardless of the activity, will not have obstacles in further registering the company and the whole process can be done on fast and easy way.
Documents that are needed:
- Passport copy of shareholder/director
- Prof of address
- POA in case of remote service
No, but you can register a LLC at a regular address at a fairly low price.
It takes only 2-5 days
Yes, foreigners are allowed to open more than one company.
It depends. Opening LLC requires much less time and documentation.
With the power of attorney it is possible to open LLC remotely.
Our principles of work
Information handling requires a responsible approach, so we always inform you in advance about the upcoming steps and documentation that is required, so you can plan your schedule and enjoy your time.
After the job is done, we don’t turn our backs on you and we don’t charge premium for further consultations.
Even for everyday challenges you stumble on in North Macedonia you can always ask us for advice and we will be happy to assist.
Wish you luck and achievement of future plans! See you in Macedonia!