Macedonia Company Formation

Understand the Jurisdictions Setup Requirement Before Proceed Your Macedonia Company Formation

Macedonia is in the Balkan Peninsula, and it was established after Yugoslavia collapsed. Also, Macedonia shares the borders of Greece, Albania, Serbia, and Bulgaria. There are about 2 million people in Yugoslavia, and approximately 64% are Macedonians and 25% Albanians. The Macedonia residents are mostly Catholics, Orthodox Christians, Protestants, and Islam. The official language is Albanian, and its climate features moderate to subtropical. If you are planning a Macedonia company formation, take note of them.

Macedonia has a centralized and well-implemented registration for companies, and the government makes it easy for foreign investors to operate in the country. They need to use a variety of business forms, and the country’s registration process is less bureaucratic and easy.

The Limited Liability Company (LLC) is the most common structure of business for investors because of the registration easy. In addition, there are tax advantages and activities start fast. At least one shareholder but does not exceed to 50 can open an LLC in Macedonia, with a share capital of MKD 308,000. The Memorandum of Association and Articles of Association are the bases of an LLC incorporation in this country. The documents of a Macedonia company formation must have:

Company name
Core or main activity of the business
Company headquarters in Macedonia
Name of the bank where the company will open a bank account
The owners’ names. If it is for a physical person: name, surname, residential address, ID card and passport copy. For a legal entity: The company’s current status issued by the trade register in their native country that is less than 3 months.
An authorized representative – manager; a copy of their passport and ID card
The initial capital which is a minimum of 5,000 euros
Owner’s liabilities information and how the profit distribution is, based on the shares
Anyone can be the director or company shareholder regardless of their nationality and citizenship
Natural persons, as well as legal entities, can be company shareholders in Macedonia
The company must appoint a manager
The legal address must be in Macedonia’s territory
In the registration process, the founder’s passport and utility bills will be used
The person establishing the company does not need to be present. They can have an authorized representative who acts on your behalf but must have a power of attorney
Documents needed to register must have a translation provided by an authorized translator. It must be notarized
The company’s fact of registration will be put on the Central Register of the Republic of Macedonia

Purchasing a Ready-made Company in Macedonia

A lot of business persons would rather shorten their activities, without waiting for the formalities of registration. It is normally suitable for investors to choose a ready-made company because it only uses a simple DOO form, and it is already registered. Shelf companies have an advantage of fast ownership transfer, no registration, no debts, and the chance of getting local bank credits. The accounting history and market credibility of the shelf company matter when loaning from a bank.

Taxation

Established companies in Macedonia have a 10% tax rate based on the registered income, which is among the lowest in Europe. The rate can also be applied to dividends of state companies. When it comes to value-added tax, this is set at 18% in Macedonia on specific services, activities, and goods. Since the government is offering incentives and encouragements in the significant sectors of the country, businesses can develop easily. That is because they can benefit from tax exemptions, and there is a need to hire an accounting firm that takes care of the firm’s financial operations. It does not matter if it is a local or abroad LLC.

If you have any trouble opening a business in Macedonia, contact 3E Accounting. You can even go to us to help you with all steps of Macedonia company formation.