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Starting a Business in

Macedonia, FYR

Below is a detailed summary of the bureaucratic and legal hurdles faced by entrepreneurs wishing to incorporate and register a new firm in Macedonia, FYR. It examines the procedures, time and cost involved in launching a commercial or industrial firm with between 10 and 50 employees and start-up capital of 10 times the economy's per-capita gross national income.

This information was collected as part of the Doing Business project, which measures and compares regulations relevant to the life cycle of a small- to medium-sized domestic business in 190 economies. The most recent round of data collection was completed in June 2016.

Compare Macedonia, FYR to 189 other economies.

  • No. Procedure Time to Complete Associated Costs
    1

    Registration with the Central Registry and obtaining a company seal

    Agency: Central Register

    Company founders can prepare registration documents themselves. A one-stop shop system was implemented on January 1, 2006. The Central Register of Republic of Macedonia is the single institution for registering LLCs and other forms of trade companies, foreign representative offices, and other entities. This registration process includes registering the company with the Trade Register, providing the LLC statistic number, opening the LLC bank account, registering the company in the Public Revenue Office–Tax Office, and publishing the LLC formation notice on the Central Register’s Web site (www.crm.com.mk).

    According to the amendment of the Law on trade companies, Published in the Official Gazette of the Republic of Macedonia nr. 38 from 24.02.2014, registration of LLCs must be conducted in electronic form with the assistance of authorized registration agents who are the only authorized entities to submit applications for registration. The electronic registration is free.
    With the amendments on the Law on One Stop Shop (Official Gazette 150/2007 from 12.12.2007) connection is now established between the Central Registry and the Employment Agency which allows registering of first employment of directors through CRM and registering employees with the social fund.

    Registration agents have public authorization to prepare the application and the accompanying company deeds, and also to convert paper documents issued by other institutions needed for establishing the company into electronic form, to digitally sign and submit them through the existing system for e-registration of the Central Register, in the name and on behalf of different parties. The registration agents have public authorization to determine the identity of the participants, such that the need for notarization of documents is now completely eliminated. The entire company registration procedure is completed at the site of the registration agent.

    The founders shall transfer the amount of the principal capital on a temporary account in a commercial bank of their choosing. After the registration is completed the bank account of the newly founded company shall be opened.

    1 day MKD 250 for standard seals and 2,200 for automatic seals.
    2

    Registration for VAT

    Agency: Public Revenue Office

    Companies beginning with carrying out of a commercial activity which predict to achieve turnover over 2,000,000 denars are obliged to be registered for VAT purposes. The VAT registration is carried out by submitting of an application for registration for the value added tax (Form DDV-01). The application for VAT registration is submitted to the Public Revenue Office.
    Taxpayers who began carrying out commercial the activity during the calendar year must submit VAT registration application within 15 days of the start of the activity.

    1 day free of charge