North Macedonia Citizenship By Investment: Ultimate Guide 2021
Looking to obtain the most affordable Citizenship By Investment Program with EU visa-free travel? While still relatively unpublicized, the newly launched North Macedonia Citizenship By Investment Program (donation based) offers foreign nationals the benefits of a second citizenship, visa-free Schengen access and a host of other tax and business benefits.
Find out more about this new Citizenship By Investment program below, or contact us now for more information.
The North Macedonia Citizenship By Investment Program at a glance
Strategically situated between Greece, Albania, Kosovo, Serbia and Bulgaria, the Republic of North Macedonia is an independent state established in 1991 as one of the successor states of former Yugoslavia.
The Southeast European country’s recently amended Citizenship By Investment law enables foreign nationals to obtain North Macedonian citizenship by means of making a €200,000 donation towards a government approved fund. Given the price point, it is one of the most affordable program of its kind in Europe, competing favorably with both the Montenegrin and Maltese Citizenship By Investment Programs.
The program is highly exclusive; only 1,000 applicants will be approved for Macedonian citizenship, and only successful entrepreneurs are encouraged to apply.
The Macedonian CBI Program offers several benefits, including a class-leading investment threshold (€200,000 donation), an application process duration of only 4 to 5 months, along with visa-free travel to 119 countries including the Schengen Area and Russia.
In addition, the investor’s spouse, dependent children up to the age of 30 years, along with the main applicant’s parents are eligible to be included in the investment citizenship application.
Why choose North Macedonia for Citizenship By Investment?
The ultimate Plan B destination: North Macedonia is strategically located country with spectacular natural scenery and a Mediterranean climate. Boasting a high personal safety score and exceptionally low cost of living, the country is an excellent second home and Plan B destination for foreign nationals seeking greater stability, safety and quality of life.
EU visa-free travel: North Macedonia enjoys visa-free access to 110 countries around the world, including the Schengen Area, Russia, Mexico and Turkey. For foreign nationals from countries with weak passports, it is therefore an excellent choice for those seeking visa-free access to the Schengen Area
Tax-friendly jurisdiction: As a non-resident, you’ll enjoy 0% income taxes in North Macedonia, making it an attractive destination for investment migrants seeking to optimize their global tax commitments.
Business-friendly environment: Boasting a growing European economy and an enabling business setup environment, North Macedonia is an appeal location for entrepreneurs seeking the establish a business footprint in Europe. The country’s Corporate Income Tax (CIT) rate is only 10%, making it one of the most tax-efficient places in Europe in terms of doing business.
(Generally, all resident and non-resident legal entities operating a permanent establishment (PE) are liable to pay CIT in North Macedonia. Macedonian resident entities are taxed on their worldwide income. Non-resident entities, however, are taxed on their profit achieved through their permanent establishment in the country.)
Potential EU accession: North Macedonia is a candidate state for EU accession, and is presently in negotiations with Brussels over joining the EU. As and when this happens, it would add immense value to holding a North Macedonian passport and citizenship.
Program investment requirements 2021
As of March 2021, applicants under the North Macedonian Citizenship By Investment Program must meet the following investment requirements:
Donation towards a government approved, SEC regulated fund: €200,000; PLUS
Minimum administrative / government processing fee: €50,000 for the main applicant; PLUS €10,000 per additional eligible dependent, regardless of age or relation.
Latest available program developments and information
Macedonia launched the first version of their CBI program in 2016, with a minimum business investment requirement of €400,000, however applicants were approved on a discretionary basis.
The introduction of 2 new government pre-approved investment contribution funds under the new North Macedonian CBI Program brings an enhanced level of predictability of outcomes to the process. The new minimum fund contribution to receive North Macedonian citizenship is €200,000.
The North Macedonian CBI Program is offered under direct supervision of the country’s Ministry of Interior Affairs.
The official website for the Macedonia Citizenship By Investment Program can be found at www.citizenship.mk – NOT www.macedoniacitizenship.com or www.macedoniacitizenship.mk.
The government prescribed agent fees for the program will vary from €30,000 to €50,000, depending of the size of the family.
It is expected that the 2-tier citizenship application process will take around 4 to 5 months to complete. Find out more here.
The North Macedonian CBI Program will have no minimum stay / residency requirements, however applicants will have to visit North Macedonia at least once during the application process.
In terms of the total cost structure, applicants will be required to make a contribution of €200,000 to one of the two government approved funds. In addition they’ll have to pay a service fee of €20,000 for the main applicant, €20,000 for the spouse, and €10,000 for each eligible minor applicant.
Children born to economic citizens of North Macedonia at a future date will immediately be eligible to receive North Macedonian citizenship, even if they are born outside of the country.
While applicants naturalized under this program will have the same rights and privileges as native born citizens, they will, however, not be eligible to vote in the country’s elections, nor take public office in North Macedonia. The same limitations apply for as-yet unborn children of economic citizens.
Ready to find out more about North Macedonian Citizenship By Investment? Contact us today.
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