Joint Stock Company in North Macedonia
Commonly used by investors to form SME, a JSC in North Macedonia may be managed in two ways. Firstly, through the elected representatives of the Board of Directors (BoD) before a JSC is incorporated, also known as a one-tier system. Secondly, a second-tier system in which a supervisory BoD is elected before the incorporation.
Similarly, regarding the formation of a JSC, there are two prevailing methods in the country. The simultaneous method requires all shares to be contributed by the JSC’s shareholders. The successive method is where the shares are listed on the stock market and the public is invited to trade.
That’s just the tip of the iceberg, factoring in the paid-up capital requirements and other essentials, the process becomes overwhelming often. Bringing us on board will ease the process, as our team of experts is always a step ahead of the game. No detail is trivial, we ensure that your transition from an investor to a JSC owner is flawless and effortless.
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The level of association with our clients and the services we provide them are unmatched in the market for most part. All the extra miles we cover reflect in our rate of success and returning customers.
Our services include:
- Company registration;
- Corporate advisory;
- Banking solutions;
- Accounting, audit, and taxation services;
- Legal representation and advisory;
- Information security and corporate espionage protective solutions and much more!
Joint Stock Company registration conditions
The two methods of formation of a JSC differ in paid-up capital requirements of formation. While Eur 50,000 paid-up capital is required for Simultaneous Formation, Eur 25,000 only is required for successive formation of JSC.
Besides this, rest of the requirements are similar, such as:
- the liability of the shareholders is limited to the subscribed shares amount,
- complete foreign ownership is allowed,
- Compulsory appointment of Internal Audit Unit to perform and submit annual audit report to the Public Revenue Office,
- JSC is considered founded after registration in the trade register.
Timeline
The company registration process in North Macedonia is very efficient, provided all necessary documentation is complete and submitted when demanded. Generally, it takes up to 4 working days for registering a company after submission of the paper work. The timeline is applicable to all company structures.
Fees
Contact us for our and government quote.
Compulsory regulation
The compliance required by North Macedonian law and the regulations thereof are laid out in the Law of Trade Companies of North Macedonia.
It covers topics such as composition of the company, types of business structures permissible, shareholding, legal situation of members, CIT application, etc.
The application of regulations depends on the type of company format and nature of business.
Documents
North Macedonian trade law requires submission of a series of documents for JSC registration.
- Statute of the JSC,
- Power of attorney given by the incorporators and JSC representatives,
- Documents of the relevant entities and/or natural person representing incorporators/stockholders,
- Statement of interest and purpose by the bodies or natural person,
- Proof of paid amount issued by the bank in which payment of stock was deposited,
- Terms & conditions on which the entire or partial capital is registered,
- Contracts and sub contracts for issuance of stock,
- Assessment by court expert,
- Evidence of ownership,
- Establishment cost details,
- Audit report.
Documents mentioned above are compulsory to produce, any missing document may lead to rejection of the application. Our services stretch to ensure that all documents are in order and satisfy legal requirements at every step.
Consultation about Joint Stock Company registration
Our team of skilled and experienced individuals assist clients during each step of the JSC registration process. Ensuring that all legal compliances are in order and documentation requirements are fulfilled to the very end. The clients enjoy the peace of mind and focus on their business.
Accountancy
The law governing the legal requirements with regards to accountancy, requires all companies to submit a detailed audited report at the time of inception. Periodic audits are also necessitated by the same law.
To find more on accounting requirements, follow our “accountancy” page below.
Taxes
All legal entities whether resident or non-resident for tax purposes, performing through permanent establishment are required to pay Corporate Income Tax (CIT) as per the North Macedonian law.
Though the CIT rate is flat 10% however the application varies from company to company. Our expert consultants have more on this, follow this link to find out.
Bank account
Corporate bank accounts are integral to all business functions. Every organization has one or many corporate accounts to facilitate business transactions worldwide. In many cases, your bank provides the necessary guarantees, import/export documentation, and much more.
We facilitate our foreign clients to establish and operate corporate bank accounts so that their operations always run smoothly. Find out more on the requirements and essentials on this below.
Other legal forms in North Macedonia
Whether you wish to own a JSC, a LLC, sole proprietorship, partnership, or any other form of company, we are here to bridge your needs with legal and corporate requirements.
North Macedonian government encourages all formats of businesses, as long as they are not in contravention with the state law and public welfare, and the documentation is as required by the law.
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