In the last ten years, the construction sector in Macedonia represented approximately 8% of the GDP registered each year. A significant increase of approximately 12% was registered from January to November 2018, offering international entrepreneurs the chance to consider opening construction companies in Macedonia. Our company formation agents in Macedonia are at the service of business persons interested in company formation in Macedonia and support for setting up a construction company.
Who can open construction companies in Macedonia?
Both local and international entrepreneurs can set up companies in the construction sector in Macedonia, as long as they respect the applicable laws. It the case of companies wanting to develop their constructions in Skopje, the capital of Macedonia, these will have to align with specific requirements in this sense, meaning that they need to obtain the permission for construction for the active seismic zone as this city is. The Law on Construction in Macedonia stipulates the general rules for companies having activities in this sector, also mentioning that a construction inspector will issue the final approvals, in respect with the urban plans, before the business starts the activities.
How do I open an LLC in Macedonia?
The limited liability company is the DOO in Macedonia and the proper business form at the disposal of any kind of entrepreneur. This kind of structure is also recommended for opening companies in the construction field in Macedonia. The following information highlights the main conditions for opening a DOO in Macedonia:
- EUR 5,000 or approximately MKD 308,000 is the minimum share capital for setting up a DOO in Macedonia which can be deposited in a local bank account.
- A verification of the future name of the business needs to be considered in the first place.
- A limited liability company in Macedonia cannot be incorporated without an appointed board of directors and a representative of the firm.
- The registration for tax purposes and social contributions in Macedonia can be done after the certificate of incorporation is issued by the Central Registry of the Republic of Macedonia.
The support of our company formation specialists in Macedonia is not limited to the formalities involved in company incorporation, as our consultants can act as representatives of your business in Macedonia, with a power of attorney. Feel free to address your inquiries to our team and also use our cost estimator and find out more about the company costs in Macedonia.
Types of activities of construction companies in Macedonia
Companies can have different construction projects and some of them can be implicated in building residential houses, or in state-owned projects involving the construction of highways. Other companies can deliver construction materials or raw materials to third party firms established in Macedonia or abroad.
The mechanical endurance and seismic protection
Companies activating in the construction field in Macedonia need to respect the rules referring to the mechanical endurance, stability and seismic protection. In other words, the process of construction must not disturb the environment or the mechanical endurance of the area by establishing the foundation or destroying the unused building found in the perimeter. In this sense, some specialists in Macedonia can determine the level of endurance, stability and seismic protection before a construction is commenced. The report revealed afterwards is normally attached to the request for obtaining the needed building permit for entrepreneurs in Macedonia.
Short facts about the construction sector in Macedonia
The construction sector in Macedonia had ups and downs like the majority of countries that suffered from this point of view, mostly at the time the economic crisis began. In terms of opportunities, the is a high interest on the American model of houses which recently found its place in Macedonia too. Construction companies can deal with prefabricated housing and platform-frame constructions based on American technology. The infrastructure in Macedonia continues to develop, so many foreign companies are in charge of such projects, offering numerous job opportunities in the country. Below we have gathered information and statistics about the construction field and investments in Macedonia:
- • in 2017, the construction sector in Macedonia registered revenues of approximately USD 523 million;
- • most of the foreign investments in Macedonia come from Austria and Germany;
- • the total FDI flow in Macedonia for 2018 was USD 5.9 billion;
- • 47.1% of the country’s GDP in 2018 was sustained by the FDI flow.
For more details and support in opening a construction company in Macedonia, feel free to contact our company formation agents in Macedonia.