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Articles

Establish a Subsidiary in Macedonia

Updated on Thursday 24th May 2018

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Establish-a-subsidiary-in-Macedonia.jpgThe bountiful and appreciated business climate of Macedonia allows foreign investors to form varied companies in respect to the applicable legislation. Among the legal entities which can be established in Macedonia, a subsidiary may represent a suitable option, due to an easy registration and financial support offered by the parent company. In terms of registration and formalities, our company formation agents in Macedonia can help investors establish subsidiaries in Macedonia at any time.

 

How can I register a subsidiary in Macedonia?

 
A Macedonian subsidiary is a legal entity which can have a wide range of activities including the ones of the parent company. We mention that a subsidiary in Macedonia can be established through a limited liability company by at least one shareholder and a minimum share capital of EUR 5,000. This type of business addresses to entrepreneurs interested in small and medium enterprises in Macedonia. The Articles of Association stand at the base of company formation in Macedonia including for subsidiaries and must be created in compliance with the Companies Act and the Macedonian Commercial Act.
 
It is good to know that subsidiaries in Macedonia can be private or public and are managed by a board of directors which is appointed by the shareholders of the subsidiary. For a better understanding of the rules and regulations related to subsidiaries in Macedonia, we suggest you address to our specialists in company incorporation in Macedonia.
 

Do I need a representative for a subsidiary in Macedonia?

 
Yes, foreign companies and their subsidiaries in Macedonia need to be represented by a registered agent. This can be a natural person with residency in Macedonia or another company with establishments in this country. We remind that our team of advisors can represent your firm in Macedonia, whether it is a subsidiary, a branch or any other business structure.
 
 

The registration certificate of a subsidiary in Macedonia

 
Subsidiaries in Macedonia can properly perform the activities on the market as soon as the registration certificate is issued by the Central Registry of the Republic of Macedonia. This is an important document that shows the company is legally incorporated in Macedonia and it can be received once the Articles of Association, the declaration of the parent company that wants to establish a subsidiary in this state, the specimen signatures of the owners and directors of the subsidiary are submitted to the Central Registry. It is good to know that the certificate of incorporation is normally released within a few days if all the documents are accepted by the institutions in charge of the registration.
 

The advantages of a subsidiary in Macedonia

 
Subsidiaries in Macedonia benefit from the business history and reputation of the foreign company, therefore, the intellectual property rights are protected. Moreover, subsidiaries can act independently and can also perform additional activities, different from the ones of the parent enterprise. A Macedonian subsidiary has the same financial structure and administrative services like the parent company and can activate with the same marketing strategies.
 
The assets of a subsidiary company in Macedonia can be invested in the same business if the foreign company considers so. In a competitive market full of opportunities, a subsidiary may represent the suitable form of business which guarantees success and profits in a fast and reliable manner. Another important advantage of a subsidiary in Macedonia is related to the tax regime and particularly to the benefits offered by the double tax treaties signed with more than 35 countries. In this situation, the withholding tax is set at 10% but in some cases it may not be imposed.
 

What is the minimum share capital for a subsidiary in Macedonia?

 
As mentioned earlier, a subsidiary can be created with the help of an LLC and a minimum share capital of EUR 5,000. The registration process of a subsidiary on Macedonia starts at the Central Registry of the Republic of Macedonia or simply the Trade Register and follows the same formation steps as for any kind of business. In this sense, the Articles of Association are mandatory at the time of formation of the subsidiary in Macedonia, following the next steps which involve:
 
  • the tax compliance and the application for VAT in agreement with the applicable laws;
  • applying for the company’s seal in order to legally operate on the market;
  • hire staff and bear in mind the requirements for the employment contracts;
  • solicit the services of an accounting firm in Macedonia for payroll, bookkeeping, annual financial statements, etc.
 
 
For more information about how to establish a subsidiary in Macedonia, we kindly invite you to get in touch with our team of company formation representatives in Macedonia.
 
 

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