When examining a jurisdiction in which to incorporate, the first thing to look at is the legal code. The underlying law in Macedonia is civil law law. You will want to get some local advice as to how to best structure a company in Macedonia. One is permitted to electronically sign documents.
The letters MK is for Macedonia and the most common company type in Macedonia is a LLC.
It typically takes about 1-7 Days to setup a LLC in MK. The min share capitalization is EUR 0, This means you don't have any minimum share capital. The types of cash you can use to capitalize your company is most commonly MCD, USD, and any legal currency.
Yes, one is allowed to re-domicile a LLC from MK. You are usually allowed to change the jurisdiction of the company, pending certain procedures.
There must be at least 1 shareholder. This makes it possible for you to own a LLC in MK by yourself. Corporate Shareholders are encouraged, which means you can have a corporate shareholder. Foreign ownership is encouraged, up to 44% of the ownership of the LLC.
A LLC is only required to have one director. Furthermore, corporate directors are not permitted. Directors should not have an expectation of privacy, as they are not kept private in Macedonia. There is a body of law which requires companies to hold an annual meetings of shareholders.
A registered office is a requirement, whom the company will pay yearly, for an agent which can receive a service of process on behalf of the company. Furthermore, a company secretary is not always necessary, at least not by law.
There is a legal obligation to file accounts on a yearly basis. However, there is oftentimes a requirement to have these accounts audited.
Thin capitalization rules are in effect. A company is thinly capitalised when there is a greater proportion of debt than equity. The minimum capitalization for a Macedonia Civil Law is EUR 0.
A corporate director is not permitted, meaning this country is not a good option if you are setting up a structure where you want to protect director liability.
The directors are disclosed in the public registry of Macedonia, Economic Chamber of Macedonia. Shareholders are not disclosed in the Economic Chamber of Macedonia.
Typically companies take 1-7 days to setup and there are 1 director(s) required and 1 shareholder(s) required at the time of incorporation.
Overall we think Macedonia is a good option and have given it a score of 71 as an IO score, using the Incorporations.IO proprietary formula.
1-7 Daysto form