Macedonia was placed on the 25th position out of 185 of the total countries that registered significant contributions to the gross domestic product rate with the help of the tourism sector. Found in the Balkan peninsula in the south-eastern part of Europe and having important business connections with countries like Greece, Albania, Bulgaria or Turkey, Macedonia is a representative business and financial center which welcomes foreign investors of any kind. Because there is plenty of potential in the tourism sector, there are many entrepreneurs who decide for opening travel agencies in Macedonia, taking advantages of the country’s diverse possibilities in this area. Even though the registration formalities are not complex, we recommend you solicit support and information from our company formation specialists in Macedonia.
What are the main conditions for opening a travel agency in Macedonia?
First of all, it is best to decide on the business structure for a travel agency in Macedonia, and in most cases, the limited liability company or the DOO as it is known can be the proper solution for the simplified formalities among other things. Here are a few facts you should pay attention to at the time you register a DOO in Macedonia:
- • the minimum share capital for a DOO is set at EUR 5,000 and needs to be drafted in a local bank account;
- • at least one shareholder is needed for opening a limited liability company for your travel agency;
- • the Articles of Association are the company’s main documents which contain information about the business and its owners;
- • the tour operator needs to be registered for tax purposes in Macedonia;
- • the Ministry of Economy issues the business license for your travel agency in Macedonia.
The registration of the travel agency in Macedonia starts as soon as the name reservation is made. As for the following steps of the company registration, your travel agency will need a company seal before starting the operations. As for the representative of your travel agency, this can be a local resident or better yet, you can appoint one of our professionals at any time. A power of attorney is necessary in order to represent your business and company with several institutions. Feel free to address your inquiries to our team and let us deal with the Central Registry of the Republic of Macedonia in terms of company formation and registration.
Activities of a travel agency in Macedonia
Inbound travel agencies can provide complete touristic packages for internal travels and directed to both domestic and foreign customers. Outbound tour operators provide international touristic packages to the same category of clients. Hotel accommodation, plane tickets, reservations, and other related services can be provided by a travel agency in Macedonia. Furthermore, if it is the case, clients can receive information about the needed visas, however, it is recommended to talk to a specialist in this case.
Do I need a business license for my travel agency?
Yes, a business license is mandatory at the time you decide on activating as a tour operator in Macedonia. Also, the manager of the business will have to provide his/her qualifications in this sector.
Do I need to make an insurance for my company?
Yes, in order to avoid any potential business risks, it is recommended to ask for insurance. Such an insurance covers a wide range of risks such as property damage, worker’s compensation, disasters and many more. Normally, small and medium businesses, including travel agencies can accept general liability insurance, the type of insurance that covers most of the risks that might occur. Feel free to ask us any questions, and solicit complete company formation services in Macedonia, if you are a foreign investor interested in opening a travel agency in Macedonia.
Why choose Macedonia for opening a travel agency
Besides the fact that Macedonia is pretty much appreciated for the beautiful landscapes, foreign investors might be interested in other advantages when opening a business in this country. There are varied tax incentives offered to entrepreneurs who decide on reinvesting the company profit or for those who want to hire local labor force. Cities like Skopje (the Macedonian capital), Bitola, Ohrida, Kumanovo or Gostivar might represent the proper business destinations for travel agencies.
We kindly invite you to get in touch with our team of company formation specialists in Macedonia and solicit both information and assistance if you would like to open a travel agency in Macedonia. We are at your disposal with tailored services.