Small business setup in North Macedonia
Through economic reforms, North Macedonia offers a favorable environment for small businesses looking to grow, especially in manufacturing and technology sectors. We excel at assisting both startups and growing small businesses, with our deep knowledge of the regional market and expertise in company formation. Our services can help with the necessary documentation and processes to establish your small enterprise in North Macedonia. Let’s explore the benefits of starting a small business in North Macedonia and how our tailored solutions can support your success.
Formalities and procedure
Registering a small enterprise in North Macedonia is a multi-step process that can be finished within a couple of weeks.
Choose a business name
The name of the business must be one-of-a-kind and not currently being used. You can verify the availability of a name on the website of the North Macedonia Trade Registry.
Select legal entity type
Choosing the right legal structure is crucial for the prosperity of your small business. We offer expert advice on Limited Liability Company (LLC), Joint Stock Company (JSC), Branch Office, Holding Company to support you in making an informed decision that fits your needs and goals.
Set up legal address
It is crucial to have a valid address when beginning a business because it acts as the primary point of contact for government bodies, legal entities, and important business communications. Selecting an address that complies with local regulations and fits your business needs is crucial.
Get the necessary paperwork ready
Our team of professionals will assist you in developing detailed and tailor-made documentation that aligns with your company’s structure and objectives. We ensure compliance with all legal requirements and handle the filing procedure on your behalf.
Open a bank account
In order to establish a business in North Macedonia, having a corporate bank account is necessary. We will support you during this procedure, making sure you adhere to the rules and guiding you in opening a bank account with a respected financial organization in North Macedonia for your small business operations.
Company registration
We take care of the registration process with entities such as the Trade and Companies Register and tax authorities, removing the administrative burden from you. This ensures that your small business is legally recognized and compliant from the beginning.
Setup accounting
In order to effectively start a small business, it is crucial to keep precise financial documents. Our group of accounting professionals can assist in creating efficient accounting and bookkeeping procedures that adhere to North Macedonia’s rules and regulations.
Small business examples
Small businesses exist in various industries and sectors, each with unique requirements. The following are examples of small businesses:
- Business support: Smaller consultancies, individual service providers
- DIY retail: Locally-owned hardware shops, small home improvement stores
- Education: Tutoring services, small language schools, independent trainers
- Farming: Smaller, family-run farms
- Fitness: Individual trainers, small local gyms or studios
- Food and beverage retail: Independent grocery stores, coffee shops, bakeries
- Hotels and motels: Smaller, independent hotels or motels
- Laboratory: Smaller independent testing labs
- Marketing: Freelance marketers, small local agencies
- Media: Independent content creators, niche publications, small production companies
- Printing: Small local print shops
- Real-estate: Individual realtors, very small brokerage firms
- Restaurant: Independent, non-chain restaurants
Benefits of establishing a small business in North Macedonia
North Macedonia is an attractive location for starting a small business, providing numerous benefits:
Strategic location
North Macedonia’s appeal lies in its economic reforms and opportunities in manufacturing and technology, which attract companies looking for expansion. The country’s advantageous location, cost competitiveness, and government incentives for foreign investment all contribute to making it a favorable destination for businesses seeking to establish themselves in the region.
Favorable tax regime
North Macedonia offers a corporate income tax rate of 10%, along with incentives for investments in manufacturing, technology, and tourism. The country’s strategic location and ongoing efforts to enhance the business environment make it an appealing destination for investors.
Banking
The banking sector in North Macedonia, which is in the process of reform, offers potential for growth and investment by concentrating on modernizing, increasing efficiency, and broadening financial services in the changing economic environment.
Our small business setup solutions
We understand how valuable your time and resources are, which is why we offer two convenient choices to streamline the company formation process.
Business formation online
By utilizing the online platform offered by North Macedonia, individuals can start and finalize the process of creating a business from any location globally. The feature of tracking progress, turning in necessary paperwork, and accessing our services via secure digital platforms guarantees a hassle-free and convenient experience.
Business formation remotely
If you would rather not be involved in the paperwork, we can take care of it for you. Our experienced team will handle all necessary formalities, complete the required paperwork, and communicate with the relevant authorities on your behalf to ensure your peace of mind.
Contact us today and launch your small business success
Get in touch today to schedule a consultation and begin pursuing your business goals. Together, we can take that initial step forward.