FREQUENTLY ASKED QUESTIONS - … Decem… · Safety Sytem, Anthura, Istem Medical, ODW Electric,...

in the Republic of Macedonia

FREQUENTLYASKED

QUESTIONS

3 Macedonia At a Glance

6 Macroeconomic Indicators

7 Setting Up a Business

10 Operating Within Macedonia

18 TIDZs

20 Taxes

21 Banking & Finance

23 Education & Workforce

27 Our Services

Contents

3 Frequently Asked Questions

Multi-party parliamentary democracy

Legislative: unicameral Assembly with 120 MPs with four-year terms; members are elected by popular vote from party lists based on the percentage of the overall vote the parties gain in each of six electoral districts

Executive: president elected by popular vote for a five-year term; prime minister and cabinet elected by the Assembly following legislative elections

2.1 million (2014 Est.)

Median age: 35 41% under 30 years (2014 Est.) Life expectancy at birth: 74.6 years Labor Force: 938,294Literacy rate: 96.1%

Official Name: Republic of Macedonia

Area: 25,713 km 2

Capital City: SkopjeOther Major Cities: Kumanovo, Bitola, Tetovo, Veles, Prilep, Stip

Temperate continental in the North, Mediterranean in the SouthWarm, dry summers and autumns Relatively cold and snowy winters

Average temperature: 12.7 CAverage high: 17.75 C Average low: 5.5 C

Macedonian Denar (MKD)€1 = MKD 61.5

General InformationPopulation

Climate

Currency

Political System


FRA SUI

ITA

ESP

GBR

NOR

IRL

BEL

NED

GER

SWE

POL

LUXCZE

PRT

BIH

HRVSVN

AUT

500km

1000km

2000km

2500km

3000km

1500km

Time Zone: GMT+1

Country Phone Code: +389

Internet Country Code: .mk


FIN

POL

UKR

MDA

BLR

LTU

LAT

EST

RUS

TUR

SVK

HUN

ROU

BGR

SRB

KOSMNE

BIH

ALB

GRC

Macedonia

650 million customersduty-free market

FREE TRADE AGREEMENTS MARKET SIZE BY CUSTOMER BASE

EU - 500 million CEFTA - 30 million EFTA - 12.5 million Turkey - 74 million

Ukraine - 46 million


Annualin�ation

Q3 : 1.7%

FDI

Q1-Q3: € 50.6M

Import

Q1-Q3: € 4.95BnExport

Q1-Q3: € 3.67Bn

Trade balance Q1-Q3: €-1.28Bn

Real GDPgrowth rate

Q3: 0.2%

Gross salariesreal change

0.6%

Exchange rate(average)

52.3MKD/$1

Exchange rate(average)

61.5MKD/ €1

2017

Source:

State Statistical Office,

National Bank of the Republic of Macedonia, December 2017


How do I register a company?

You can register a company in Macedonia by visiting a single counter and addressing a single employee. The one-stop-shop system for registering a company operates within the Central Register via 28 electronically integrated offices located throughout Macedonia.

Government has announced that foreign companies will be able to register their companies electronically starting from 2012. This reform will enable foreign companies to register companies directly from their respective countries, i.e. it will eliminate the need to be physically present in Macedonia in order to register a company.

How long does it take to register a business?

You can register a business in Macedonia in just 4 hours.

How much does it cost to register a company?

The Central Register fee for registering a limited liability company is approximately €40. You can expect minimal additional expenses for court translations and notary certifications of the

required documents (around €3-€5 per page).

What are the most common types of companies that are registered by foreigners in Macedonia?

The most common types of companies are limited liability companies, joint stock companies, representative offices and branches.

What documents do I need to register a company?

When registering a company as a physical entity, the following documents are required before you go to the Central Register:

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.1 A contract establishing the company, or a statement establishing the company if it is established by single person, with all attachments including the power of attorney for the

proxy certified by a notary;

2. Copy of passport or ID card if the founder is a natural person or proof for registration of the parent company if the founder is a legal entity;

3. Decision on appointment of a manager of the company, if it isn’t stated in the contract for establishing of the company, in which decision shall be stated: the given name and

surname of the manager, his personal number (EMBG in Macedonia), passport number or ID number, his/her citizenship and place of residence;

4. Statements of all of the managers of the company that they accept their appointments certified by a notary. If the contract for establishing the company stipulates that the

company shall be managed by more than one manager, but it shall be officialy represented only by one of the managers, with or without a proxy, then statement that he/she accepts the representation of the company in the manner specified in the contract for the establishing of the company shall be required;

5. The decision for appointment of the supervisory board members, if the company in its organizational structure had foreseen a supervisory authority, in which decision shall

be stated: the given name and surname, personal number (EMBG in Macedonia), passport number or ID number, his/her citizenship and place of residence;

6. Statement of the legal representative of the legal person, or a statement of the natural person, certified by notary that there are no legal obstacles for it/him/her to be the

founder of the company as stated in Article 29 of the Company Law;

7. Statement of incorporation, statutory amendments and transformation of the company as stated in Article 32 of Company Law.

We suggest that you arrive prepared with several di�erent names for the company, in case your first preference is not available.

What is the minimum capital requirement for registering a company in Macedonia?

You do not have to deposit any money to establish a company. The minimum capital requirement of €5,000 for a limited liability company registered as a foreign direct investment has to be deposited within one year of founding through monetary contribution via remittances in domestic commercial banks in temporary accounts.

How do I open a bank account in Macedonia?

To open a bank account in a commercial bank in Macedonia you need the following original or notary certified documents:

written request for opening the account certificate from the company register not older than 6 months

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evidence of assigned tax number certificate from the company register not older than 12 months notarized signature of the company manager.

Neither the owner nor the manager of the company needs to be personally present at the bank when opening the account.

For persons authorized to use the account you need:

Proof of identification, and written authorization signed by the legal representative.

In which cases do I need additional approvals for operating out of Macedonia?

To operate in certain fields, such as pharmaceuticals, banking, insurance, and educational activities, the company registration process is followed by a licensing process with the relevant authorities. A license or other act issued by a relevant authority shall be necessary to be presented to the Central Register in order to complete the registration of the company in such case. The employees in the Central Register are trained to direct newly registered companies to the appropriate licensing authorities.

-What is Macedonian government policy regarding overseas companies doing business in Macedonia?

The Constitution and the Law on Trade Companies guarantees equal treatment for domestic and foreign entities. Additionally, one of the Government’s top priorities is to attract foreign direct investments in the country. Seven Ministers, responsible for foreign investments, and InvestMacedonia through its economic promoters stationed around the world, target companies in priority countries to meet potential investors.

Which law regulates company registration?

The Law on Trade Companies (Official Gazette no. 28/2004, 84/2005, 71/2006, 25/2007, 87/2008, 17/2009, 23/2009, 42/2010, 48/2010, 8/2011, 21/2011, 24/2011, 70/13, 119/13, 120/13, 187/13, 38/14, 41/14) governs the establishment and organization of a company. The Law on Trade Companies is fully harmonized with EU directives and regulations. There are numerous local legal firms specialized in corporate law which are readily available for help.

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Which multinationals are already working in Macedonia?

Johnson Matthey, Van Hool, Kemet Electronics, Amphenol, Visteon, Societe Generale, Titan Group,

Technohose, Protek, Deutsche Telekom, Mobilkom Austria, EVN, Duferco, ArcellorMittal, QBE,

Societe Generale, Steiermarkische Bank und Sparkassen AG, Prokredit Holding AG, Hypo Alpe Adria

Leasing, Nova Ljubljanska Banka, ERA Group, Soravia, ODW Electric, Marquardt, Draxlmaier, Key

Safety Sytem, Anthura, Istem Medical, ODW Electric, Grishko, Coficab, Mensan Otomotiv, Endava,

Apple Land etc.

INDO MINERALS AND METALS dooel

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How can I visit Macedonia?

Citizens of the USA, Japan, and the European Union member states and Schengen Convention signatories can fulfill the right to enter the Republic of Macedonia without entry visas. Citizens of other countries must apply for a visa at the Macedonian Embassy or Diplomatic-Consular Office abroad. For visa requirements please consult your domicile foreign a�airs office. For a complete list of all countries and visa requirements for Macedonia please visit www.mfa.gov.mk.

How can I reach Macedonia by plane?

Macedonia is well connected to the entire world through direct flights to Skopje Alexander the Great airport from: London, Vienna, Rome, Zurich, Dusseldorf, Prague, Budapest, Ljubljana, Zagreb, Belgrade, Istanbul etc. Another international airport is located in the city of Ohrid, in the southwest.

How do I get authorization to work in Macedonia?

Foreign citizens can apply for work visas at the relevant Embassy or consular office of the Republic of Macedonia. Once a work visa is obtained, upon your arrival you may apply for a work permit at the Employment Agency of the Republic of Macedonia.

Can foreign investors acquire rights to real estate in Macedonia?

Foreign entities can directly own or lease property in Macedonia, according to the Law on Construction Land (Official Gazette of the Republic of Macedonia No. 82/08 from 08.07.2008).

What sort of help can I expect to receive in choosing a business premise?

InvestMacedonia can help in identifying a suitable real estate agency in Macedonia. Also, based on your specifications, we can identify adequate state-owned land and buildings.

What is the cost of renting office space?

Office space rent ranges from €7.5 – €22.5 m 2/month, depending on the class of the building with an average of €10 – €12 m 2/month in Skopje.

What is the cost of construction land in Macedonia?

State owned construction land is sold or leased through a public tender procedure. Currently, the initial price of the public bidding for sale of unused construction land, which according to the detailed urban plan is intended for construction of industrial and commercial facilities and hotel buildings, starts with 1 Euro per square meter throughout the country.

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How much does a square construction meter cost?

On average, a square construction meter for a construction shell costs around €170/m2 – €210/m2.

What is the average monthly gross salary?

The average gross monthly salary is €547 (2017), one of the lowest in Europe.

Purpose/Municipality (prices in Euro/m2)* Housing

Apartment Building

Commercial and Office centers

Production Facilities

KarposCentar

97.6 130.0897.6

1

AerodromKisela VodaTetovoOhrid

65 55.28

47.151

BitolaStrumicaGevgelija

37.431.87 48.80 1

StipStrugaKicevo

19.5 22.76 32.52 1

Purpose/Municipality (prices in Euro/m2)*

Public Buildings Sport and Leisure Infrastructural Buildings

KarposCentar

22.8 71.54 71.54

AerodromKisela VodaTetovoOhrid 6.50

20.8052

BitolaStrumicaGevgelija

6.50 13 10.57

StipStrugaKicevo

5.70 4.06 6.50

Note: The above prices are extracted from the by-laws and the law for transformation of the ownership of state owned construction land and represent the minimal prices for public bidding procedure. The data stated here can be subject to change. For further information on state owned construction land please contact a representative of InvestMacedonia.

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47

827.6

22

16.2

37.40

22.80

52.03

9.75

81.373.2

22.76

22.76

31.87

31.87

55.28

90

19.5

14.30

24.70

32.52

42.28

14.63

6.50

17.89

4.9 4.88

17.07

11.40 13 10.57


Destination/Origin Distance (km) Net Hours BordersFrom Skopje (€)

(20 ton truck)

Kraguevac, Serbia 320 6 1 500€

Pitesti, Romania 730 8 2 800€

Budapest, Hungary 800 11 2 950 €

Gebze, Turkey 850 12 2 800€

Ljubljana/Novo Mesto, Slovenia

950 15 3 900€

Vienna, Austria 1,200 14 2 1,200€

Ostrava, Czech Republic 1,300 16 2 1,300€

Munich, Germany 1,370 17 2 1,250€

Aksaray, Turkey 1,470 18 2 1,500€

Milan, Italy 1,500 19 3 1,250€

Stuttgart, Germany 1,600 19 2 1,400€

Frankfurt, Germany 1,700 20 2 1,450€

Cologne, Germany 1,900 24 2 1,500€

Batilly, France 2,000 26 2 1,800€

Source: Kuehne-Nagel, ViaMichelin, November 2017

What is the transportation cost for a 20t truck?

What freight companies can I use?

In addition to excellent local companies, numerous multinationals also operate in Macedonia. For further details refer to www.mifa.org.mk.

What is the cost of electricity?

The price of electricity is determined by the Energy Regulatory Commission of the Republic of Macedonia.

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Measure Unit Tari� Time

Tari� costs (€)(18% VAT not included)

6kV - 35 kV 0.4 kV

Power kW / 13.1 15.2

Energy

kWhHT 0.055 0.073

LT 0.027 0.036

kvarhHT 0.012 0.018

LT 0.007 0.009

* Exchange rate €1=61.5 MKD


What is the cost of water?

Water charges are determined at the local level and thus vary from one municipality to another. These are some examples for prices of industrial water in € per m 3:

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1.07

0.78

0.90

0.62

0.65

0.98

Skopje

Bitola

Stip

Ohrid

Kriva Palanka

Gostivar

What is the cost of gas?

The price of natural gas is determined by the Energy Regulatory Commission of the Republic of Macedonia (ERC).

The cost of 1nm 3 natural gas for consumers directly connected to the distribution system is

€0.05 with 18% VAT included in the price (decision from ERC dated on 2017).

Source: Invest Macedonia

Source: Energy Regulatory Commission of RM, 2017



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What is the cost for telephone installation?

Initial connection fee for a standard (PSTN) line: ~ €10 Initial connection fee for a digital (ISDN 2) line: ~ €20

How much is a minute of international phone calls?

The prices per minute vary across countries. Some examples are:

€0.28

€0.49 €0.49€0.62

€0.49 €0.49€0.63€0.67

€0.14 €0.16 €0.16 €0.16 €0.16 €0.19

Germany Russia UK USA France Austria Australia India

Fixed Telephony Mobile Telephony

An alternative when making international calls are the international pre-paid calling cards o�ered by a number of companies.

How much would a monthly Internet connection cost?

Private Users

Download/upload speed 4Mbps / 768Kbps 8Mbps / 768Kbps 12Mbps +3G

Transfer (download and upload)

30 GB Unlimited Unlimited

Yearly contract (approximately)

€8 / month €14.5 / month €27.5 / month

Open-end-contract(approximately)

€18 / month €19.5 / month €32.5 / month


€0.33


Companies

Download/upload speed 6Mbps / 1Mbps 12Mbps / 1Mbps 16Mbps / 1Mbps

Transfer (download and upload)

50 GB 300 GB Unlimited

Yearly contract (approximately)

€19 / month €32.5 / month €109 / month

Open-end-contract(approximately)

€24 / month €45.5 / month €123 / month

What would I expect to pay for postal and courier services?

All the major delivery companies operate in Macedonia. The average price for the fastest possible delivery of documents to selected destinations is given in the chart below:

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Can I export to Europe/overseas?

Macedonia has signed free trade agreements with the EU, EFTA and CEFTA countries, as well as Turkey and the Ukraine. These provide free access to over 650 million consumers. Macedonia was officially admitted to the World Trade Organization in 2003.

What are the average duty levels in Macedonia?

Industrial products: 3%General average: 8%

New York

Vienna

Graz

Paris


Berlin

Source: DHL express Macedonia, 2017


Economic Chamber of [email protected]

Macedonian Chambers of Commerce [email protected] www.sojuzkomori.org.mk

Macedonia ICT Chamber of [email protected]

Economic Chamber of North-West Macedonia

[email protected] www.oemvp.org

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For the equipment necessary to conduct the activities of the company, unused equipment and spare parts (except cars and office furniture) can be imported duty free. For companies in the Technological Industrial Development Zones, this includes used equipment as well.

I am looking for a business partner – who can I contact?

The most important business associations in Macedonia are The Economic Chamber of Macedonia, the Macedonian chambers of commerce and Economic Chamber of North-West Macedonia. Additionally, the IT companies are joined into the Macedonian ICT Chamber of Commerce – MASIT.

Is intellectual property rights protection e�ective in Macedonia?

The Intellectual Property Protection Rights, including copyrights, are regulated by the Law on Copyright and Related Rights, and industrial property rights are regulated by the Law on Industrial Property. A department within the Ministry of Culture is responsible for the protection of copyrights and other related rights, while the Industrial Property Protection Office (IPPO) is responsible for industrial property rights.

What auditing standards does my company need to abide by?

The central law regulating auditing in Macedonia is the Company Law. Company auditing is carried out in accordance with IFAC’s International Standards of Auditing as published by the Ministry of Finance in the Official Gazette of the Republic of Macedonia, updated on an annual basis.

What accounting standards does my company need to abide by?

Financial reporting is carried out in accordance with the International Accounting Standards published in the Official Gazette of the Republic of Macedonia. The most recent annually updated IAS/IFRS are the valid financial reporting standards in the Republic of Macedonia.


What are the Technological Industrial Development Zones in Macedonia and where are they located?Q

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What kinds of companies can be established in the TIDZs?

The Technological-Industrial Development Zones have been established to host high-tech clean industry production that is export-oriented.

What infrastructure solutions are o�ered in the Zones?

Companies operating out of the TIDZs are offered free connection to utilities such as natural gas, water, electricity, and access to a main international road network.

Who is already present in the TIDZ?

At the moment, US based company Visteon, US Kemet Electronics, Belgium company Van Hool,

Italy's Teknohose, Great Britain’s Johnson Matthey and Russian-Macedonian partnership Protek Holding are fully operational in the TIDZ Skopje1. Another division of the already present company Johnson Controls, opened a new cut and trim in the TIDZ in Stip.

What are the incentives o�ered for projects operating in the TIDZs?

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FREE CONNECTION TO

PIPED NATURAL G AG( AS, WATER AND SEW E ) UTILITIES

0% VAT ANDCUSTOMS DUTIESFOR EXPORT PRODUCTION

0% CORPOR ATE TAXFOR THE FIRST 10 YEARS(10% THEREAFTER)

0% FOR THE FIRST 10 YEARS(10% THEREAFTER)

PERSONALINCOME TAX

LAND LEASE

FOR UP TO

99YEARS

AT ATTRACTIVE CONCESSIONAR Y R ATES

ADVANTAGEOUSLOCATION

ACCESS TO PAN-EUROPEAN CORRIDORS 8 AND 10, RAILROAD AND INTERNATIONAL AIRP ORT

€500,000S U BSIDY OF UP TO

TO WARDS BUILDING COSTS

**


What are the tax rates?

* Includes computer software and hardware** 2-3% for the tax payer in the 2nd order of succession and 4-5% for the tax payer in the 3rd order of succession or not related to the testator

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PROPERTY TAX

0.1%-0.2%

CORPORATEINCOME

TAX

10%

PERSONALINCOME

TAX

10%

VALUEADDED TAX18% general

tax rate

5% preferential tax rate*

INHERITANCEAND GIFT TAX

2-3% or 4-5%**

SALES TAX ONREAL ESTATEAND RIGHTS

2-4%

PROPERTY TAX

TAXES


What are the biggest banks in Macedonia according to total assets?

LARGEST

MID-SIZED

SMALLEST

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Komercijalna Banka AD Skopje, Stopanska Banka AD Skopje, NLB Tutunska Banka

Alfa Banka AD Skopje, Halkbank AD Skopje, Sparkasse Bank Makedonija AD Skopje, Ohrid -ska Banka AD Ohrid (Societe General Group), ProCredit Bank AD Skopje, Stopanska Banka AD Bitola, TTK Banka AD Skopje, Uni Banka AD Skopje

Eurostandard Banka AD Skopje, Ziraat Banka AD Skopje, Kapital Banka AD Skopje, Makedonska Banka za Poddrska na razvojot AD Skopje, Poshtenska Banka AD Skopje, Centralna Kooperativna Banka AD Skopje


How can I obtain information about purchasing securities?

The official stock exchange market of the Republic of Macedonia is the Macedonian Stock Exchange ( www.mse.com.mk ). Trading in securities on the Stock Exchange is done through

brokerage houses and banks who are members of the Macedonian Stock Exchange.

Trading on MSE can be arranged directly with a local brokerage house or indirectly through other foreign brokerage houses or banks that have a relationship with local brokerage houses or banks. For direct trading the relationship with local broker(s) and banks has to be established by signing an agreement with the local broker.

What are brokerage houses in Macedonia?

Brokerage houses are the legal entities that perform activities of trading with securities and that are official members of the MSE (Macedonian Stock Exchange). A full list of official brokerage houses can be found on the web-site of the Securities and Exchange Commission of the Republic of Macedonia (www.sec.gov.mk)

What kinds of securities are traded on the Macedonian Stock Exchange?

On the Macedonian Stock Exchange, you can trade with shares, bonds and other securities (bills, notes, CD’s etc.). Currently on MSE only Treasury bills (T-bills) issued by the Ministry of Finance of the Republic of Macedonia are traded on a separate market segment.

What is the MSE index?

The official index of the Macedonian Stock Exchange is MBI-10, a weighted index of the 10 most liquid shares on the MSE. Two other indices are the MBID, the index of publicly held companies, and the OMB, the bond index.

Are there restrictions for transferring funds to and from Macedonia?

There are no restrictions for transfers of funds from a current account based on an invoice or other type of agreement or appropriate document. Profits and dividends from inward investments can be freely transferred abroad after taxes are paid.

Also, there are no regulatory restrictions on foreign investments by non-residents in Macedonia. Credit transactions between residents and non-residents can be freely arranged, and have to be registered at the Central Bank. Non-residents can freely open non-resident accounts in Macedonian banks.

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What is the average gross salary? What is it comprised of?

The average gross monthly salary in Macedonia in 2017 is € 547, one of the lowest in Europe.

This amount includes the net salary, personal income tax (10%) and social contributions for:

- pension and disability insurance- health insurance- employment insurance - additional health insurance

What percentage of the average gross monthly salary goes towards social security contributions?

18 %%

7.3% 1.2% 0.5%

18% 7.3% 1.2% 0.5%

18% 7.3% 1.2% 0.5%

18% 7.3% 1.2% 0.5%

18%

7.3% 1.2% 0.5%

27%

27%

27%

27%

27%

=

=

=

=

=

2013

2014

2015

2016

2017

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Source:

PricewaterhouseCoopers (Taxes at glance ), National IPAs

Pension Insurance Health Insurance Employment Insurance


On average, what is the skill set that a prospective employee would possess?

The average Macedonian employee possesses good linguistic, interpersonal, and teamwork skills. In general, Macedonian education is concentrated on providing a broad set of knowledge to the future workforce.

What percentage of the population speaks English? What other languages are in use?

Every child in Macedonia begins to learn English in the first grade of primary school. In the sixth grade a second foreign language is introduced as mandatory, and a third as optional. Two foreign languages are mandatory in high school as well: English, and one of German, French, or Russian. Also, the system of higher education entails two years of professional English.

Regional languages (Serbian, Bulgarian, Albanian, Greek and Turkish) are widely understood and spoken.

Foreign LanguagesStudied

% of total students in:

Primary Schools Secondary Schools

English 99% 96.5%

French 0.6% 2.8%

German 0.3% 0.5%

Italian - 2%

Russian 0.1% 0.2%

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Are there any international schools in Macedonia?

Numerous private international educational institutions exist in Macedonia, both European and American, starting from pre-school all the way to university. The Ministry of Education maintains a listing of accredited educational institutions.

How do I find the right Macedonian sta� for my business?

Numerous HR companies and recruitment agencies operate in Macedonia. Invest Macedonia can provide useful contacts upon request.

Source:

State Statistical Office of the Republic of Macedonia, 2015/2016


What are the national holidays in Macedonia?

Under what circumstances does the employer have the right to terminate the employment contract?

According to the Law on Labour Relations, employment can be terminated in the following cases:

- By agreement between the employer and employee; - Upon expiry of a fixed–term of employment; - When enforced by law; - By notice, supplied either by the employer or the employee; and- Due business reasons (e.g. restructuring).

Jan 1 New Year’s Day

Jan 7 Orthodox Christmas

Jan 19 Christening of Jesus Christ

May 1 Labor Day

May 24 Sts. Cyril and Methodius

Aug 2 Day of the Republic

Sep 8 Independence Day

Oct 11 National Uprising Day

Oct 23 Macedonian Revolutionary Struggle Day

Dec 11 St. Clement of Ohrid

/Two days for Orthodox Easter, depending on the Orthodox calendarRamazan Bajram, depending on the Muslim calendar

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Pre-Investment Phase

Decision & Investment

Aftercare

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3

Business opportunity analysis

Identification of supplier base

Identification of project-specific location factors

Cost analysis

Site visit organization

Detailed due diligence

Final site decision support

Support with relevant tax and legal issues

Assistance in acquiring visas and work permits

Site preselection

Organization of meetings with state and local authorities

Organization of meetings with legal advisors and financial partners

Incentives negotiations and establishment of formalities

Facilitation of communication with potential Macedonian business partners

Coordination and support of negotiations with other state and local authorities

OurServices

T: +389 2 3100 111F: +389 2 3122 [email protected]

Agency for Foreign Investmentsand Export Promotion

of the Republic of Macedonia

Invest Macedonia, the o�cial Government agency responsible for

attracting and developing foreign investments is a full service agency

prepared to guide you throughout the decision-making process.

As an institution dedicated to making this process as bene�cial and

e�ortless as possible, we are eager to lead you through the initial

inquiry phase, arrange a suitable itinerary to visit Macedonia, and

culminate with an objective evaluation of the potential success of your

project in Macedonia in comparison to neighboring countries, based

on the current business climate. If your business requires �nding

suitable local partners, we will aid you through the process and ensure

that an open exploratory dialogue can take place.

Meeting your business requirements is our primary goal. Our Aftercare

program will provide assistance by mediating on your behalf with

local authorities and the Government, supporting your expansion

or reinvestment needs, aiding in obtaining required permits, and be

at your disposal at all times to ensure the continued success of your

business venture in Macedonia. Invest Macedonia understands

the ever changing business needs as an operation grows, and to that

e�ect, we pledge to collaborate closely with you to facilitate that

growth in Macedonia.

FREQUENTLY ASKED QUESTIONS - … Decem… · Safety Sytem, Anthura, Istem Medical, ODW Electric,...

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