Company Formation Macedonia
Foreign investors can benefit from a quick and easy company incorporation process in Macedonia, if some requirements are met. Moreover, foreign companies will also benefit from the same treatment as national companies in terms of incorporation and taxation. The company registration process is very swift and it can take up to a week.
The following steps must be followed for company registration in Macedonia:
The first step when incorporating a company in Macedonia is choosing three names for the company and, after checking their availability, the client will opt for one of the names and will reserve it.
The second step will be the filling of the incorporation form where data about the shareholding structure and the business’ activities must be provided. Other information, such as addresses and occupations of the shareholders, the appointment of the director and the payment of the share capital, must also be provided.
According to the Macedonian Company Law, the share capital can be paid upon the incorporation of the company or within a year after the registration. The clients must also provide identification documents, such as passport copies, identification cards or driver license, a recent utility bill or a bank statement as proof of residential address. Representation is also possible through notarized power of attorney. All relevant documents must be translated by a translator, notarized and then submitted with the Central Register of Republic of Macedonia. Macedonian companies can be formed by national or foreign citizens, they must have a director and must hold a registered office.
Our team of incorporation experts provides company formation services in Macedonia. Our assistance includes:
- drawing up the articles of association that can be signed through power of attorney (Macedonian laws require power of attorney for any public notary proceedings);
- drawing up documents for company incorporation in Macedonia: specimen signatures, identification papers copies, application form required by the Macedonian Company Registration Office;
- arranging public notary proceedings (all procedures for company incorporation are done in front of a Macedonian public notary);
- providing a registered office in Macedonia on demand; the registered office serves as headquarters for the company in Macedonia and it will be made public;
- setting up a bank account for the company in Macedonia; BridgeWest will help in setting up the share capital bank account, as well as a current bank account once the company is incorporated;
- - recommending a Macedonian accountant, as accounting services are needed for new businesses in Macedonia.
Types of companies in Macedonia
- limited liability company in Macedonia (DOO or DOOEL) - The Macedonian limited liability company is the most common type of business, as it allows a minimum of one shareholder and a maximum of 50 shareholders, a director and a management board. The minimum share capital for a limited liability company in Macedonia is 5,000 EUR. The shareholders will be held liable to the extent of their participation for the company’s debts and obligations. The limited liability company must hold a registered office in Macedonia.
- joint stock company in Macedonia (AD) - The Macedonian joint stock companyrequires a minimum share capital of 25,000 EUR for a private company and a minimum share capital of 50,000 EUR for a public company. It requires a minimum of two shareholders who can be individuals or legal entities. The shareholders will be held liable to the extent of their participation for the company’s debt and obligations.
- Macedonian Branch, Subsidiary or Representative Office - Foreign companies are allowed to set up separate enterprises from the parent company, where the foreign company will be a shareholder in a Macedonian company. Foreign companies can also open extensions of the parent company in Macedonia.
Taxation in MacedoniaThe standard VAT rate in Macedonia is 18%, but a reduced rate of 5% applies to certain products.
The corporate tax rate in Macedonia is 10%.
In Macedonia dividends, interests and royalties are subject to a withholding tax rate of 10%, unless it is reduced by tax treaties.
Please contact us for more information about how to open a company in Macedonia and prices.