In addition to its robust industry, geographical position within Europe, and rich cultural heritage, Macedonia is regarded as a trustworthy NATO and EU ally. Owing to its outstanding economic landscape, which is reliant on a fiscal structure and perks put forth by the state, this country is a desirable location for investment. Limited liability firms are simple to establish for both international and native business owners. As registering a company in Macedonia requires undivided focus, particularly if you are an expat, it is advised that you thoroughly analyze this article to comprehend the fundamentals of the registration.
LLC in North Macedonia
The limited liability firm is the ideal corporate model for all types of operations in Macedonia, just like in other European nations. Thanks to the simple registration approach, entrepreneurs can quickly and effectively set up their businesses here. A Macedonian checking account may be used to transfer the required capital for this organization, which is fixed at EUR 5,000.
In Macedonia, a limited liability corporation can be formed by a minimum of one investor and a limit of 50 participants. One can purchase a ready-made firm that can be operated as soon as the title has been authorized since the industry is receptive and the sector demands international capitalists.
Set up LLC
International people who wish to establish limited liability businesses in Macedonia must submit the required documentation to the Company Registrar and the regional agencies. The minimal share capital must be provided for LLC formation. The founders must submit applications for the firm’s mark, fiscal benefits, social obligations, and other connected items as quickly as the State Registrar of the Macedonian government accepts the constitution of the company.
Registration requirements
The creation of the memorandum of incorporation and the owner’s signature sample is the first step in the Macedonian registration phase. The procedure can be finished in a single day.
The firm is established with the Commercial Registry as soon as the creators present the certified papers. The National Tax Agency must be notified of the corporation’s establishment. The LLC creation notification must be posted on the Central Registry online, and a business account must be opened for registration purposes.
The State Registrar is also employed for the establishment of the Employment Office. The Authority will permit the initial executives’ filing with the social resources. The Articles of Incorporation are important paperwork required for company formation and must include the following:
- Type of business entity, for instance, Limited liability company;
- Details of the founder;
- Corporate address and contact information;
- Minimum shared capital required for incorporation;
- List of business activities; and
- Details of managers and directors.
Documents required
To start the registration process, the following papers are necessary:
- Identification papers of managers and shareholders;
- Articles of association;
- Authorization paper for business representative;
- Acceptance letter of directors;
- Capital payment receipt;
- Invoice of the registration fee;
- Bank statements showing financial records; and
- Tax documents.
Share capital
The minimum amount of the basic securities shall be EUR 5,000.00. The stake must be represented as a round figure that may be divided by 100. This amount must be provided within a year of the LLC’s incorporation. It doesn’t have to be deposited in advance of certification. Investors must submit an audit study prepared by an approved legal analyst, before submitting for authorization.
Directors
At the time of formation, the Company must have at least one director. The director must obtain a working visa to carry out their obligations in the Republic of North Macedonia if they are international individuals who wish to remain and operate in North Macedonia. Regarding taxes, residency is also important.
After the necessary data has been submitted, four hours are needed for registration. Nevertheless, the process could take up to 5 working days from the date when the whole paperwork is submitted. Legal bills and notarial charges are the main expenses. The payment of the operational charge associated with the process is reimbursed upon founding.
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