In the unique region of the Balkans, nestled in Southeast Europe, lies the picturesque nation of North Macedonia. With its strategic location, rich cultural heritage, and promising business environment, North Macedonia has attracted numerous investors, entrepreneurs and international companies for business set-up. For any business, one of the most crucial initial steps is the registration of their business name. Here is a detailed guide to help you navigate the process of registering a business name in North Macedonia.
1. Business Environment in North Macedonia
North Macedonia boasts a diverse economy and has been seen as a good place for investment. Its low tax rates, educated workforce, and improved infrastructure make it a befitting location for entrepreneurs and investors looking for new business opportunities. The government has also implemented various reforms to improve business transparency and ease of doing business, which further attracts foreign companies to invest in the country.
2. Choosing Your Business Name
In North Macedonia, a company can’t start functioning until it has an officially registered business name. The business name is your brand, it’s how you present yourself to the public and market your company. It should be easy to pronounce, unique, and not already used by any other company in the country. It should also not violate any trademarks, in Macedonia or internationally.
3. Procedure for Business Name Registration
The Central Registry of the Republic of North Macedonia is in charge of business name registration. The process involves checking the availability of the proposed name, making a name reservation, and submitting the required documents. During this process, you must also define your business activity according to the National Classification of Activities (NACE). The registration fee is relatively low, estimated to be around €100 as of 2021, and it takes approximately five working days to complete the registration.
4. Documentation Required
Documentation that must be submitted for the registration of a business name includes:
– Application form for business registration
– Proof of identity
– Evidence of paid fee
– Draft of the Articles of Association
– If leasing a premises – a copy of the lease agreement
After the successful registration of your business name, your company will receive its Unique Master Citizen Number (EMBG), through which it becomes formally recognized and can conduct business operations.
North Macedonia presents a promising business environment with a favorable investment climate and ease of doing business. Understanding the process of business name registration is a significant first step in establishing a presence in the Macedonian market. From choosing your business name to submitting the necessary documentation and receiving your EMBG, this process is a gateway to exciting opportunities in this beautiful Balkan country.
Economic Chamber of North Macedonia
National Bank of the Republic of North Macedonia
Public Revenue Office of North Macedonia
Government of the Republic of North Macedonia
Ministry of Information Society and Administration
Office for Development and Promotion of Education