North Macedonia, officially known as the Republic of North Macedonia, is a small country in the Balkans. Its population is estimated to be around 2 million people, consisting of various ethnic groups, including Albanians, Turks, and Roma, among others.
That being said they do have an 18% VAT tax, although certain more essential goods have a lower tax rate of 5% or 10%. English is very common and the highly educated workforce with competitive labour costs makes it a great place to do business.
North Macedonia’s gorgeous natural landscape offers many breathtaking views. The climate leads to warm summers and cold snowy winters due to the elevation. North Macedonian is extremely mountainous and there are a lot of great hiking trails. Despite the cold winters, temperatures rarely get far below zero degrees celsius. North Macedonian food is rich in organic produce and high-quality meat, like their delicious cabbage rolls, hearty stews, or stuffed green peppers.
The country has recently undergone significant economic development, with several international companies establishing regional operations. The availability of a skilled and educated workforce has attracted many companies to invest in the country, leading to job creation and economic growth.
Map of Macedonia
Temporary residence in North Macedonia can be granted for a number of different reasons, such as:
Prior to coming to North Macedonia, individuals interested in a temporary residence permit must apply for a Type D long-stay visa and a residency permit at their local North Macedonian consulate or embassy. The following documents are required:
Additionally, you may be required to disclose information concerning your proposed accommodations in North Macedonia, and demonstrate financial solvency with bank statements. A temporary residence permit is valid for one year only, but can be extended should circumstances warrant the extension.
Along with the above reasons, a foreigner may also qualify for temporary residence if
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Art Bridge in Skopje, North Macedonia
Temporary residency permits are usually granted for one year. However, that is not a fixed rule and it is possible to get one for a longer period of time if circumstances warrant it. You may extend your permit, provided you have lived in North Macedonia for at least ¼ of the time allotted for you in your permit. After having resided in North Macedonia as a temporary resident for five years, you can apply for permanent residency, so long as you have not been absent for more than six months in a row during that time period, and for no more than ten months altogether.
Obtaining the necessary visas and work permits is crucial for those looking to live and work in North Macedonia. The country offers several types of visas, including tourist visas, business visas, and work visas, which can be obtained from the country's diplomatic missions or consular offices.
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After at least 8 years of continuously living in North Macedonia, you can submit your application for citizenship. You must also follow these requirements, among others
North Macedonia also has a citizenship by investment program, which requires a €200,000 donation to a social development fund. This program is limited to 1,000 applicants. This process has a €20,000 fee for the principal applicant, as well as a €10,000 fee for each other family member who is brought along. There are additional fees as well. The beauty of this program is that it fast-tracks citizenship and you can have a North Macedonian passport in as little as three months. In terms of residency requirements, you simply need to make a single visit in order to submit your application and all the paperwork and you are good to go.
It is important to note that the €200,000 donation is only for a single individual. The cost for a couple without children is €280,000, and with one child it is €300,000. This is the cost of the donation alone. There are also processing fees.
Obtaining the necessary visas and work permits is crucial for those looking to live and work in North Macedonia
North Macedonia has a worldwide tax system, so if you are deemed a tax resident of North Macedonia, then you are subjected to a flat income tax of 10%. Capital gains have an effective tax rate of 7%. Because of the advantageous tax system in North Macedonia, it may behoove you to become a tax resident there. There is no wealth tax in North Macedonia, and property taxes are around 0.1% to 0.2%. If you do not stay in North Macedonia for more than 183 days a year, then you are not considered a tax resident and are subject only to North Macedonia-sourced income.
If you're interested in establishing a company in North Macedonia, the process is straightforward, with a relatively low bureaucracy and straightforward regulations. Several incentives are also available to foreign investors, making the country an attractive location for businesses looking to expand their operations in the region.
North Macedonia's official language is Macedonian, with Albanian and Turkish
Becoming a North Macedonian citizen will give you the right to live and work in North Macedonia as long or as little as you want. That right will also pass down to any children you might have in the future. A North Macedonian passport will give you visa-free travel to or visa on arrival benefits in 125 different countries around the world. As North Macedonia is an E.U. candidate country, there is a good chance it will join the European Union in the future. Should North Macedonia become a member of the E.U. then North Macedonian citizenship would confer the right to live, work, and travel anywhere within the European Union.
North Macedonia's official language is Macedonian, with Albanian and Turkish also recognized as official languages in certain regions. The country's diversity is reflected in its cultural and linguistic traditions, making it an interesting and vibrant place to live and work.
As a North Macedonian citizen, you would be able to take advantage of the relatively low taxes and business-friendly environment. You are also in a very strategic location, both for business and travel. You would have land borders with many very interesting travel destinations within Eastern Europe and short flights to Western Europe, Africa, and the Middle East.
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Written by Mikkel Thorup
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