The use of virtual currency in Macedonia has gained popularity in recent years and has helped attract investors in large numbers every year. Even if there is no specific legislation to control virtual currency and transactions of this kind, in Macedonia transfers and payments were registered in Bitcoin, the most used virtual currency in the world, as well as in other currencies, supervised by the Central Bank of Macedonia. In this article, you can discover how to open a cryptocurrency company in Macedonia, with support provided by our company formation agents in Macedonia.
How to start a cryptocurrency business in Macedonia
The announcement of the launch of its virtual currency managed to capture the attention of local and foreign investors in Macedonia, who have the opportunity to register a cryptocurrency company in Macedonia. We present below some of the formalities to take into account when setting up such a business:
- • A limited liability company or DOO for Macedonia is the most suitable structure for a business. Cryptocurrency companies can operate under this entity.
- • It is necessary to open a bank account in Macedonia, to deposit a minimum share capital of EUR 5,000.
- • The authorities also require a solid business plan, with information about the new venture in Macedonia. Also, if you want to make hires in the company, you must make sure that they know virtual currency as well as experience in this field.
- • Special software and programs are necessary for the development of trading platforms with digital assets. So, if you want to open a cryptocurrency company in Macedonia, you must also consider this aspect and collaborate with a specialist in the field.
- • Because there is a risk of cryptocurrency fraud, it is recommended to familiarize yourself with and even implement the anti-money laundering policies in Macedonia.
- • Also, you must have a set of internal rules for a good performance of cryptocurrency company activities in Macedonia.
- • It is important to apply for a crypto exchange license in Macedonia so that later you can operate on the market.
Considering these formalities for opening a cryptocurrency company in Macedonia, we remind you that one of our local specialists can handle the registration of such a business.
Applying for crypto exchange license in Macedonia
A crypto exchange license in Macedonia is the acceptance by which cryptocurrency company owners can carry out their activities of this kind. Obtaining a license of this kind implies the presentation of the company‘s founding documents, the business plan on which the respective company is based, as well as clear criminal records of shareholders. We remind you of the support of our specialists for obtaining a crypto exchange license in Macedonia.
Investing in Macedonia
Macedonia continues to be a magnet for foreign investors who want to expand their portfolios in this area of Europe, while involved in the accession process to the European Union. With a much-simplified tax system, great business incentives, developed infrastructure, and top sectors such as IT, agriculture, textiles, pharmaceuticals, and energy, Macedonia is a good destination for business development but also relocation from other countries. Here are some interesting statistical data:
- • Around EUR 244 million was the total FDI recorded in the first half of 2021.
- • Over USD 7.2 billion was the total amount of foreign investments in Macedonia in the same year.
- • Austria, UK, Greece, Slovenia, and the Netherlands are Macedonia’s main investors.
Therefore, those who want to open a cryptocurrency company in Macedonia can contact our local agents. We can take care of the formalities and collaborate with the relevant authorities.