If you are wondering if Macedonia is a good place for business, the answer is yes and it is sustained by different reasons. We present to you a few essential aspects about investments in Macedonia and the reasons why this country is beneficial from this point of view. Plus, the support of our company formation agents in Macedonia will prove extremely helpful right from the start, as they can cover a wide range of aspects in a professional manner. The formalities for doing business in Macedonia can be discussed with our experts.
1. The economic stability is appreciated
Foreign investors know that macroeconomic stability is beneficial for their future business in different countries. This is also the case in Macedonia, which offers such stability and protection from this point of view. Macedonia gives the right climate for those who want to grow their business in this part of Europe and enjoy the benefits.
2. The tax system is beneficial in Macedonia
Another important aspect to consider before any kind of investment is the tax structure. Macedonia is one of the few countries that offers such an advantage. For example, the corporate tax is eliminated for 10 years if certain investments are made in Macedonia, including in specific regions in this country. In addition, those who reinvest the profit in the company can benefit from other tax reductions.
3. The workforce is experienced in Macedonia
Foreign investors who choose the local workforce can enjoy the benefits offered in areas such as IT, tourism, public services, real estate, and many other sectors. With the establishment of a foreign company in Macedonia, the experienced workforce is also discussed, an advantageous sector for entrepreneurs from abroad. If you are interested in doing business in Macedonia you can get in touch with our agents.
4. Businesses can be set up in a relatively short time
Another benefit of the Macedonian business environment is the ease with which a company can be set up in this country. The authorities have greatly simplified the formalities regarding the registration of business, in order to offer the possibility to start the activities as soon as possible in this country.
5. The business legislation offers equal rights to everyone
There are no differences in business conditions for local and foreign investors. The Macedonian authorities offer equal rights in the business environment without discrimination, so this is an important reason behind the investment decision in Macedonia.
6. Special economic zones are great for international entrepreneurs in Macedonia
Special economic zones are intended for foreign investors who want to benefit from lower taxes, an optimal climate for the development of operations, financial protection, and a series of incentives designed to provide the necessary support for a stable business.
7. The banking system in Macedonia is healthy
Financial stability in Macedonia is largely supported by a sound banking system, controlled by current legislation. The National Bank of Macedonia oversees all existing financial institutions in the country for a good market operation. A well-developed banking system is another advantage over foreign investors who analyze this aspect before setting up a business.
8. The manufacturing sector is prolific in Macedonia
The manufacturing sector in Macedonia absorbs a high rate of investment each year and is extremely representative for the country’s economy. International players who want to grow their business in Macedonia can choose the manufacturing sector for stable and fast profits.
9. Macedonia aligns with the European legislation
Foreign affairs in Macedonia are legally protected, and this matters a lot in their development. Macedonia complies with the business rules imposed by the European Union and has signed a number of conventions in this direction. More about these aspects and about doing business in Macedonia can be discussed with our specialists.
10. Business costs are affordable in Macedonia
Another important aspect related to the business climate in Macedonia is related to the costs of setting up a business, but also those related to the labor force. A foreign entrepreneur will always focus on cost efficiency, and those mentioned above come into discussion from the very beginning.
Here are some figures and statistics that highlight the economic direction of Macedonia and might convince an investor for doing business in Macedonia:
- Nearly USD 64 billion represented the total FDI stock in 2019 for Macedonia.
- The simplified business formalities of Macedonia ranked the country 17th out of 190 worldwide economies.
- Austria and UK are the key investors in Macedonia.
Interested in doing business in Macedonia? You can contact our company formation agents in Macedonia and ask for comprehensive support and a personalized offer.