North Macedonia is a small Balkan country located in the southeastern region of Europe. Landlocked by many important countries such as Greece, Bulgaria, Serbia and Kosovo, the country is slowly emerging as a major industrial hub.
Other than that, what puts North Macedonia at the top of the heap for every investor is the ease with which one can conduct a business. So, for anyone looking to move to this Balkan country, here is a list of do’s and don’ts of the Investor Program.
Why choose North Macedonia in the first place?
As mentioned earlier, North Macedonia recently obtained 17and ranking on the World Bank’s Ease of Doing Business Index. Now, with the help of the investment program, immigrants can access the basic facilities offered by the country, such as health care and higher education.
Apart from that, what attracts major investors to North Macedonia is the booming economic climate. The country has a vibrant agriculture, manufacturing sectors and a highly skilled labor force, which greatly facilitates the work of investors.
In addition, corporate tax and personal income are much lower than in other European countries which is a crucial point for doing business.
Details on the investment program in North Macedonia:
One of the latest programs launched by North Macedonia is the Citizenship by Investment program. As the name suggests, the program offers citizenship to investors as well as passport access. Interested applicants are required to provide a minimum contribution of €200,000 for the same.
Once you get your hands on the North Macedonia passport, there are over 125 countries where you can travel visa-free with a low cost of living. Additionally, the program processing time is approximately 2-5 months, with no minimum residency period or language requirement.
Dos of the North Macedonian program:
One of the main steps in obtaining the North Macedonian passport is to contact an authorized agent. This will help reduce delays and make processes clear to applicants. Other relevant points to remember are listed below:
- Once the agent has been finalized, it is time to submit the passport copy and CV.
- This is followed by the allocation of the application number and the initial interview.
- North Macedonia also accepts a contribution of €200,000 in infrastructure, hospitals and start-up projects.
- Once the money has been paid, only the applicant investor obtains citizenship.
- Applicants are also required to provide biometric information before receiving passports.
- In addition to the aforementioned contributions, immigrants can also contribute an amount of €400,000 for obligations and business opportunities.
Program not to do in North Macedonia:
Although the North Macedonia investment program may seem affordable from the start, it is only for one applicant. The contribution of €200,000 is valid for a single person and when it comes to a family of four, the price increases a little more.
There are also no real estate options available with the program which should also be considered before applying. North Macedonia also has an annual quota of only 1000 people per year, so there is a good chance that many applications will not pass.
So, before applying for North Macedonian citizenship, make sure you keep all these focal points in mind and then proceed to the next step.
Benefits of the North Macedonia Investor Program:
- North Macedonia has a strong economy and low corporate tax. This makes it easier to conduct business in the country.
- The well-developed infrastructure and internationally regulated banks further facilitate the task.
- North Macedonian citizenship opens the doors to becoming a European citizen for life.
- The country supports dual citizenship with no minimum stay period.
Did you read?
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# World Passport Ranking, 2022.
# The richest people in the world (Top 100 billionaires, 2022).
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