Opening a Company in North Macedonia as a Foreign Investor

Following the recent official visit of India's President Droupadi Murmu to North Macedonia and the announced strengthening of bilateral ties, business cooperation and artificial intelligence, our office receives a growing number of questions from foreign entrepreneurs: can a company here be opened fully from abroad, and what should be prepared? The good news is that the process is fully electronic and, with a well-drafted power of attorney, requires no physical presence: with properly prepared documents, your company is registered within a few working days.

Do I need to travel to North Macedonia to register?

For the registration itself, no. With a power of attorney issued to a licensed registration agent, the entire process is handled remotely: from the name check, through the founding acts, to the electronic filing and the registration decision. The only point where banks commonly ask for personal presence is activating the bank account, and that depends on the bank and the type of account.

Which documents does a foreign founder need?

The basis is an identification document: for an individual, a photocopy of a passport (or another valid travel document), and for a legal entity, proof of registration from the competent registry in the country of origin. In addition, a founding statement or a company agreement is prepared, declarations of the founders and the manager, and a certified signature form. All foreign documents are translated by a certified court translator and notarized, because the registry operates in Macedonian, in Cyrillic. If some of the acts are signed abroad, plan the notarization early.

One founder or several: DOOEL vs DOO

For most foreign investors the practical candidates are a single-member limited liability company (DOOEL) or a limited liability company (DOO). The difference is the number of founders, not the level of liability: in both cases liability is limited to the contribution, and the minimum capital is the same.

What does it cost and how long does it take?

The costs are modest and predictable: registry fees, translations and notarizations, and the agent's fee. For DOOEL and sole proprietors, filings through a registration agent carry no registry fee. With prepared documents, registration completes within a few working days; the usual slow point in practice is translating and notarizing foreign documents, so those are planned first.

What happens after registration?

With the decision in hand, the real work begins: the reserved bank account is activated at the chosen bank, and the tax position is set properly from day one. If annual turnover is expected to exceed the threshold of two million denars, VAT registration is mandatory; below that threshold it is voluntary and often beneficial for export-oriented companies. Founders who want to live and work in Macedonia also plan a residence and work permit in parallel. Technology companies and AI teams, especially encouraged by the new bilateral agenda, most often choose activities in the information technology sector, where the legal framework is simple and export-friendly.

Frequently asked questions from foreign investors

• Do I need a local partner? No. One hundred percent foreign ownership is allowed, and the manager may also be a foreigner.
• Can my parent company be the founder? Yes. A foreign legal entity can be the sole founder, with proof of its registration and an authorized signatory.
• How long does the bank take? Account activation is usually faster than the registration itself; it varies by bank, and some require a personal visit by the manager.
• What if my documents are in English? Everything filed with the registry is translated into Macedonian by a certified court translator; the originals remain part of the company file.

Related service: Foreign Investment Law

This text is general legal information and does not constitute legal advice for a specific case. For advice tailored to your situation, consult an attorney.