Business & Study in North Macedonia
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AsTursit   Biznis   INVEST
  • Business climate in North Macedonia
  • EU and NATO Candidate Country
  • Registering a company in North Macedonia
  • Study in North Macedonia

Business climate in Macedonia

In recent years, Macedonia has strived to achieve a high level of foreign trade liberalization. In part, this has been achieved as a result of the following:

- Membership to the World Trade Organization since 2003
- Member of CEFTA – Free Trade Agreements with Albania, Bosnia and Herzegovina, Serbia, Montenegro
- Free Trade Agreement with Turkey and Ukraine and with the European Free Trade Association countries
- Stabilization and Association Agreement with EU since April 2001, giving Macedonia duty-free access to European markets for the majority of the goods (for some goods, full liberalization will be implemented gradually over a period of ten years)

As a WTO member, Macedonia has committed itself to the three basic rules of trade conduct: transparency in laws, equal rights and privileges for foreign and domestic firms and citizens, and most favoured nation treatment.

The Law on Customs Tariff is fully-harmonized with customs systems introduced by the World Customs Organization and the Combined Nomenclature used in the European Union.

Nonetheless, restrictions still exist in relation to:

- export licenses for environment protection, protection of human health, protection of animals and plants, protection of historical heritage, trade in military hardware
- measures for the protection of domestic production from significant increases in imported goods, anti-dumping measures, and measures against subsidized import prices

The economic performance of the Macedonian economy is expressed through stable GDP growth, low inflation rate of < 2 % on average in the past 10 years, fiscal discipline confirmed by the international financial institutions and a well-functioning coordination between fiscal and monetary policy.

EU and NATO Candidate Country

Recognizing the progress that Macedonia has made in meeting the Copenhagen criteria, the European Commission recommended granting Macedonia candidate country status for membership in the EU. On December 17th, 2005, the European Council decided to grant the Republic of Macedonia official candidate status for EU membership, and since 2009, every year we t receive positive reports from the European Commission and a recommendation to start the negotiation from full membership of the EU.

The Republic of Macedonia is an aspiring member country of the North Atlantic Treaty Organization (NATO). In 2008, Macedonia already fulfilled the criteria for joining NATO, which was recognized by the member countries of NATO, but at the Summit held in Bucharest, one country put vetoed the Macedonian membership.

The government’s future stated objectives will be to support the growth of domestic consumption, industrial output and acreate a favourable environment for foreign and domestic investment. To achieve this, the government has already implemented and is still developing, a number of measures, including:

- Further public sector reform including the introduction of private sector investment in the public services and infrastructure sectors
- Continuation of trade liberalisation policies
- Measures aimed at enabling easier access to financing
- Implementation of tax incentives through the creation of tax-free zones and a general reduction of the overall tax burden

Registering a company in North Macedonia

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 the institution to maintain the all companies Trade Register. This is the primary law regulating business activity in Macedonia. It defines the types of companies, procedures and regulations for their establishment and operations. As all foreign investors are granted the same rights and privileges as Macedonian nationals, they are entitled to establish and operate all types of self-owned private companies or joint-stock companies. Foreign investors are not required to obtain special permission from state-authorized institutions, other than what is customarily required by law. Under the Company Law, companies are formed as separate legal entities that operate independently and are distinct from their founders, shareholders and managers. Depending on the type, companies have their own rights, liabilities, names and registered offices. The law defines five forms of companies: General Partnership, Limited Partnership, Limited Liability Company, Joint Stock Company and Limited Partnership by Shares.

Macedonia has introduced a ONE-STOP-SHOP SYSTEM that enables investors to register their businesses after 4 hours of submitting on application (in practice, it might take 1-2 business days). 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.

For more information: - Procedures for registering different kinds of business >>

Study in North Macedonia

Macedonia has a unique strategic position between East and West which endows the country with over ten thousand years of rich history and cultural traditions.

As Europe’s gateway to Asia, Macedonia has always been at the nexus of trade routes, and migrations. Macedonia has a lot to offer to any international student: high quality education and a very multicultural population, lively cities and beautiful landscapes, artistic, cultural and sportive events. Living and studying in Macedonia will inspire you.

Macedonian universities collaborate closely with other universities around the world for the benefit of exchange students. Most Macedonian universities are actively involved in the Erasmus program and have sent around 3,000 students abroad and receive around 5,000 from European universities. They furthermore work together with other universities in the USA and around the world to organize student exchanges.

Information on Scholarships for Foreign Students can be found here: