About North Macedonia
Situated in Southeast Europe, the Republic of North Macedonia is encircled by beautiful rivers and stunning, verdant mountainous regions. Its expanding economy and superb agriculture and commerce possibilities allure investors and entrepreneurs. The inhabitants of North Macedonia relish a culturally opulent existence influenced by the humanities, indigenous customs, and a legal system based on civil law.
Citizen By Investment North Macedonia
Download the country factsheets from the residence and citizenship tabs to find out more about the country’s programs. Alternatively, contact us directly for any specific questions.
North Macedonians enjoy a pleasant Mediterranean climate and live culturally diverse lifestyle, as well as have excellent trade and investment options.
Macedonian and Albanian, with English widely spoken.
Citizen By Investment North Macedonia
Living in North Macedonia
The Republic of North Macedonia benefits from being located at a critical intersection of transportation routes, particularly the north–south route from the Danube River to the Aegean Sea and the famed east-to-west trade routes connecting the Black Sea and Istanbul with the Adriatic Sea. This pro-Western state encourages a civil law system for both natural-born citizens and citizens by investment.
North Macedonia is mostly mountainous, with Mount Korab (2,752 metres) on the Albanian border being its highest point. The region is covered in green forest areas closer to the Šar Mountains in the northwest. The abundant lush valleys provide a fertile investment landscape.
Overall, the country has a moderate mild climate, with the eastern portion having warmer winters and hotter, comparatively dry summers than the western part.
The Macedonian culture and language are appreciated by the people.It has significantly invested towards them through education and the theatrical, film, literary, and other art forms. The local cuisine features Mediterranean, Balkan, and Turkish origins.
A growing economy and noteworthy business competitiveness
Macedonia attracted new trading partners in the middle of the 1990s, and the country’s economy boomed. At the start of the twenty-first century, its gross domestic output temporarily decreased, but it swiftly restored. The nation performed better than many others in surviving the global economic recession that started in 2008.
Agriculture and trade are currently the mainstays of North Macedonia’s economy. Bulgaria, Germany, Greece, Italy,, Serbia, Romania and the United Kingdom are the state’s leading commercial partners. The main exports of the nation are food, apparel, and accessories.
The economy can impressively meet its primary food, coal, and hydroelectric power needs.
The government established The free economic zone (FEZ) policy to promote both domestic and foreign direct investment. Since then, this strategy has resulted in the creation of over a dozen distinct geographic FEZs, with the additional perk of a 10-year tax break. Due to the nation’s beneficial FEZ policy and low tax rates (10% personal and corporate income tax and 18% general VAT rates), foreign investors are drawn to the country and help to grow the economy.
One of the most open economies for investors is North Macedonia. It is one of the top 20 business-friendly nations in the world.
A strong agricultural, manufacturing, and mining industry
The major agricultural products of North Macedonia include tobacco, fruits, vegetables, wheat, rice and corn, which together account for 10% of the nation ’s Gdp. Viticulture and dairy farming are also significant economic contributors.
Mineral deposits of antimony, copper, chromium, silver, iron, lead, manganese, nickel, gold, and zinc are found in lots of land, and some of these materials are used in the manufacturing sector, which contributes for 15% of North Macedonia’s GDP.
Other key industries include:
- Machine and automotive components
- Information and communication technology
- Textile and clothing
- Pharmaceuticals and medical devices
- Wine production