The agriculture sector of Macedonia is the most promising among important business fields in the country, mentioning that it is quite easy to export local products abroad. Fishery, forestry, the food processing and all sorts of agribusinesses can be in the attention of foreign investors in Macedonia. If you are interested in opening an agricultural business in Macedonia, we kindly invite you to talk to our team of specialists in company formation in Macedonia and find out information about the registration process of a business.
The National Strategy for Agriculture and Rural Development
The Macedonian authorities adopted and implemented an important business programme in the agricultural sector meant to strengthen the regional market and to sustain the development of this important field. The 6-year National Strategy for Agriculture and Rural Development was established in 2014 and since then, the number of family farm businesses grew by 10,000 only in 2017, bringing a total number of 160,000 in 2018. The production and the processing of food, alongside the export process are among the business directions of agricultural companies in Macedonia. Here are some facts and numbers about the agriculture sector in Macedonia:
- • USD 630 million represents the total exports of agricultural products in Macedonia in 2017.
- • Over 80% of the locally-produced wine in Macedonia take the international road.
- • 80% of the total agricultural area for industrial crops represent the tobacco production in Macedonia.
- • There are approximately 180,000 tons of vegetable and fruits produced in Macedonia.
A business in the agricultural sector in Macedonia can run under the rules of a limited liability company or sole proprietorship if a small company is involved in the first place.
How do I register an LLC in Macedonia?
The limited liability company is the most popular business structure in Macedonia with an easy incorporation procedure that can be explained by our company formation representatives in Macedonia. The following aspects should be in the attention of foreign investors wanting to open an LLC in Macedonia:
- EUR 5,000 represents the minimum share capital for opening an LLC in Macedonia.
- An LLC can be established by one or more shareholders in Macedonia.
- A bank account needs to be opened for the minimum share capital of the LLC.
- The registration for VAT and other tax obligations is mandatory.
The formalities of opening an LLC in Macedonia are simple, however, it is recommended to solicit the support in matters of documents from our team of company formation agents in Macedonia.
Business opportunities in the agricultural sector in Macedonia
The agriculture sector in Macedonia is essential for the country’s economy and the support for foreign investments is in the attention of Macedonian authorities through all sorts of incentives and measures, allowing entrepreneurs purchase the need technological equipment for their farms. As an example, the American investors are welcomed in Macedonia’s agricultural sector, mostly in the food-processing industry, giving full attention to the import and export activities. There is a high interest in farm animals in Macedonia, as the country imports high quantities of meat in a percent of 50%. This is the sector where investors can develop their activities, considering that products can serve to both local and international markets. The grain sector can also be in the attention of foreign entrepreneurs in Macedonia, considering that the local production is insufficient for the country’s needs. A cereal farm might represent a great agricultural business an entrepreneur can establish in Macedonia. We remind that the Macedonian authorities and especially the Institute of Agriculture sustain the introduction and the importance of the latest technological equipment in the agricultural business. The institution is comprised of several departments like the Soil and Nutrition Department, the Plant Protection Department, Department for Economic Analysis and Project Planning, Department for Viticulture and Wine Production, etc. Some farms might be subject to the rules, licenses, and permits of the above-mentioned agricultural departments, so you should ask for support and information in this matter.
If you would like to open an agricultural business in Macedonia and know all the details for opening a company in Macedonia, we kindly invite you to contact our team of company formation specialists in Macedonia. They can provide support for the entire registration process of a company in Macedonia.