Growing your company will bring both challenges and opportunities. When expanding to the Republic of North Macedonia, companies must comply with the country’s subsidiary laws, hire employees under local employment contracts, and spend months preparing a new company location for operation.
G-P offers a solution to make your expansion easier. Our experts in the Republic of North Macedonia subsidiary laws help manage compliance, and when you work with us, you won’t have to set up your own Macedonia subsidiary.
How to set up a Republic of North Macedonia subsidiary
Expansions feature many moving parts, and it can help to identify a few important areas before officially starting the expansion process. You can start by researching what location within the Republic of North Macedonia is most friendly to international businesses. The Republic of North Macedonia subsidiary laws can differ by region or city, making it vital to research the area beforehand.
You should also examine how you will operate in the Republic of North Macedonia, as your business operations will impact the entity you choose for incorporation. Companies looking to work in Macedonia like a local company can benefit from incorporating as a limited liability company (LLC), while others performing small-scale tasks may choose to incorporate as a branch. You can set up your Republic of North Macedonia subsidiary as an LLC, joint-stock company, limited liability partnership company, branch, or representative office.
Many companies utilize the LLC structure as it will protect both your subsidiary and your parent company. Setting up your Republic of North Macedonia subsidiary as an LLC will include the following steps:
- Registering your business address.
- Submitting articles of association.
- Opening an in-country bank account.
- Registering for VAT and other taxes, including social contributions.
- Applying for a company seal before starting any business activity.
- Choosing a unique name for the business.
- Submitting the names of all business owners.
- Appointing a board of directors and a representative agent.
- Drafting a document including the activities of the companies and details about the business.
- Depositing your minimum share capital and providing details about each member’s capital contribution.
Republic of North Macedonia subsidiary laws
Although LLCs have a relatively simple registration process, tax advantages, and more, you’ll still need to learn all of the Republic of North Macedonia subsidiary laws related to LLCs before incorporating. For example, you need at least 1 director and 1 shareholder, who do not have to live in the Republic of North Macedonia. Companies also have to deposit at least EUR 5,000 of paid-up capital in a national bank account before beginning operations.
Your LLC’s shareholders are liable based on the amount of money they contribute. Shares can get transferred freely among members. You do not have to undergo an annual audit unless you make over EUR 170,000 or operate a large business such as a bank or insurance company.
Benefits of setting up a Republic of North Macedonia subsidiary
You must incorporate in the Republic of North Macedonia before you can begin working if you expand the traditional way. The biggest benefit of completing the Republic of North Macedonia subsidiary setup process is the satisfaction of growing your company and working in a new country. Establishing an LLC will also keep your parent company from incurring any liability or litigation and allow your subsidiary to operate as a separate entity from the parent company.
G-P understands the need to expand quickly, and taking the time to set up your own Republic of North Macedonia subsidiary can take months. As the Employer of Record, we’ll help you meet the Republic of North Macedonia subsidiary laws and do everything from hiring employees on your behalf to streamlining payroll — without setting up new entities.
Other important considerations
If you opt to learn how to set up your Republic of North Macedonia subsidiary, you’ll need the help of an expert. You can either assign a current team member to learn the country’s subsidiary laws or work with a lawyer or third party that can help you stay compliant. We also recommend setting aside both the time and money you’ll need to incorporate.
Enter new markets with G-P — no new entities required.
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