This index evaluates the regulatory regime for business start-up.
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Are your country's laws and regulations regarding the establishment process available online through a website of a public institution (e.g. Parliament, official gazette, etc.)?
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Y
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What is the precise name of limited liability company (LLC) in your country (for example, LLC, private limited company, private limited liability company)in English ?
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Limited liability company
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What is the precise name of limited liability company (LLC) in your country (for example, LLC, private limited company, private limited liability company)in your principal official language (if different from English).
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Друштво со ограничена одговорност (ДОО)
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Is Limited Liability Company (LLC) the most commonly used legal form for the establishment of foreign-owned companies?
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Yes
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If no, what is the most common form of establishment of foreign companies in your country?
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N/A
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Does your country have any restrictions related to the composition of the board of directors of foreign owned but locally incorporated companies (nationality, ethnicity, race, gender, etc.)?
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No
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If Yes, what is/are this/these restriction(s)?
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N/A
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Is a foreign-owned company required by law to establish its subsidiary through a local private sector third party (local counsel, notary etc.) or public entity (investment promotion agency)?
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Not required by law
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Comment
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Though not required by law, almost in every case the establishment of a company is done by a locally contracted legal counsel, as local lawyers are very much familiar with the one stop shop system fo ...morer companies registration. ...less
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Can a foreign-owned company expedite any of the establishment procedures through an official channel (fast-track procedure)?
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No
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Comment
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N/A
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Is the investment approval/authorization a mere formality, only requiring submitting a notification to an appropriate authority?
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Yes
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Does your country give the investor the right to appeal the decision on the approval/authorization?
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N/A
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Is a minimum of projected annual sales required for an approval/authorization?
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N/A
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If Yes, what is this minimum (in local currency units, LCU)?
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N/A
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Is there a limit on the period of validity of a foreign investment approval (separate from any operational licenses/permits that need to be renewed)?
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N/A
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If Yes, what is the approval’s validity period (in years)?
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N/A
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Additional Comments
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Do laws and regulations specify a time limit within which authorities must notify the foreign company of the result of its registration?
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Yes
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If Yes, what is this time limit?
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1
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If Yes, is this limit usually respected?
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No
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Do laws and regulations specify that no response from authorities within this time limit can be interpreted as consent and registration complete (that is, silent/deemed approval)?
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No
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Is the company registration documentation downloadable online?
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Yes
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If Yes, can the investment registration documentation be submitted online?
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No
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Can the registration process be monitored online? (e.g., check the status of registration, etc.)
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Yes
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Comment
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It is expected that in the future application can be submitted online using the Web site of the Central Register of the Republic of Macedonia: http://www.crm.com.mk.
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Can a foreign-owned company hold a commercial bank account in a foreign currency in your country?
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Yes
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If Yes, does a foreign-owned company have to seek approval/authorization before opening such an account?
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No
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If Yes, which authority issues such approval/authorization (e.g., Ministry of Finance, Central Bank, etc.)?
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N/A
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If Yes, how long does it take, on average, to receive such an approval/ authorization?
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N/A
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Comment
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In order for companies to open a bank account in foreign currency, it has to fill the Bank Application Forms, and enclose documents such as the Authorized Signature Application Form or copy of the In ...morecorporation Decision. ...less
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Does your country have a paid-in capital requirement for foreign-owned limited liability companies?
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Yes
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If Yes, is this requirement a different amount than the one for domestic companies?
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No
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Comment
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In accordance to the law changing and amending the Trade Company Law (Official gazette no.25/2007), a company can be registered without paying any part of the stated amount. The core capital however ...moreshall be paid in full within 1 year of the registration of the company. ...less
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Is your country party to the Hague Apostille Convention ?
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Yes
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