Foundations are non-governmental organizations (NGOs) or charities without profits, but with clear scopes, mostly related to particular projects involving fund raising for different causes. Opening a foundation in Macedonia is not subject to complex formalities, but there are strict rules to consider, like not having any agreements with the state institutions. If you would like to register a charity in Macedonia, we kindly invite you to solicit the assistance and support of our company formation specialists in Macedonia.
What are the steps for opening a charity in Macedonia?
A foundation in Macedonia can be established without a minimum share capital involved and by registering the entity with the Central Registry of the Republic of Macedonia. Non-profit organizations in Macedonia can be registered by both local or foreign citizens, or businessmen, respecting a few rules imposed by the legislation:
- Charities in Macedonia can be established if they will be involved in social projects.
- Raising funds for medical projects, schools, people with disabilities, or for sustaining young people is permitted in Macedonia.
- Foundations can deal with charitable purposes involving human rights, environment, the protection of heritage in Macedonia.
- NGOs must be transparent and provide information about the projects sustained from a financial point of view.
- Foundations will be registered for tax purposes and will need to have a local bank account.
Our team of company incorporation agents in Macedonia can handle the requirements for opening a foundation in Macedonia and can help foreigners start their activities in a fast manner without worrying about the bureaucracies involved in the registration process. The company formation in Macedonia is not a difficult process, but in-depth assistance and support can be solicited from our team of consultants, in respect with the Law on Associations and Foundations in Macedonia.
What are the activities of a charity in Macedonia?
Foundations in Macedonia can be established in fields like medicine, education, environmental protection, culture, science, or can be involved in community and economic development. Collecting funds for varied humanitarian programs can also be in the attention of charities in Macedonia, with the mention that the activities of such NGOs can implicate foreign or local communities. Supporting the healthcare sector, the social research and recreational activities, promoting the volunteering work and implicate in environmental and animal rescue activities can be among the operations and interests of a charity in Macedonia. The dedication of charities registered in Macedonia is not limited to the causes in the home country and persons can also pay attention to international projects for which they want to raise funds, with the help of their foundation.
Starting a foundation in Macedonia – what you should know
A non-profit organization in Macedonia can only activate if it has clear purposes and if they are viable. Checking the funding options for a charity in Macedonia should be among the first things to verify when looking to establish such activities.The formalities for opening a charity in Macedonia are not complex, not even for foreigners wanting to have such operations. However, it is necessary to have in mind the importance of sponsors for which foundation owners will have to look for. Just like for any company in Macedonia, a board of directors needs to be appointed by the owners who will also establish the tasks and responsibilities in the foundation. Even if a foundation is not subject to taxation in Macedonia, the entity must have a tax ID and submit the annual financial statements, in order for the tax authorities to properly verify the financial activities of the charity. A foundation in Macedonia needs to activate in a very transparent manner and to be prepared at any time for potential verifications made by the authorities. We have gathered some facts and statistics about charities in Macedonia that you might find it interesting:
- • there are around 105 UK charities established in Macedonia.
- • the latest statistics updated in September 2019 reveal that charities in Macedonia are mostly sustained by funds coming from European institutions, summing up around USD 470,982,000.
- • in 2018, around USD 20,939,200 have been directed to civil society and general projects in Macedonia.
- • about 4222 projects are registered in Macedonia among which 754 are active and request funds through charities in this country.
Foreigners wanting to establish a foundation in Macedonia are invited to contact our team of company formation representatives in Macedonia.