Business accounts: North Macedonia

Updated 6 October 2026

An honest assessment before work starts, the quote is fixed in writing.

A company account in North Macedonia is opened at a local bank supervised by the National Bank of the Republic of North Macedonia. The bank works with a company registered in the Central Registry, usually a limited liability company with one or more members. The country attracts foreign business with low taxes and incentive technology zones, and a foreigner can own a company outright. The denar is de facto pegged to the euro at about 61.5 denars per euro. Dollar amounts use the European Central Bank rate of 5 October 2026, $1.12 per euro.

The company for the account

• Limited liability company with one or more members: the main form for small and medium business.
• Registration in the Central Registry through a one-stop shop, usually within hours of filing a complete set.
• Tax number assigned at registration.
• A registered address in the country: a lease or the owner's consent for premises the bank can verify.
• Foreign founder's documents apostilled and translated into Macedonian.

Taxes the bank will see

• Corporate income tax: 10%.
• VAT: standard 18%, reduced 10% and 5%.
• Dividends are taxed at 10%.
• Technological industrial development zones: companies there are exempt from corporate tax for up to 10 years, subject to conditions.

Technology zones in more detail

Companies building a plant or service centre in a technological industrial development zone, subject to conditions, get corporate tax exemption for up to 10 years, income tax exemption for staff for up to 10 years, and exemption from VAT and customs duties on imported equipment. This requires an agreement with the zones directorate and meeting investment and job commitments. In such projects the bank looks at the directorate agreement and the investment schedule.

Staff and reporting

• Contributions for pension, health and unemployment insurance come to about 28% of staff gross pay and are paid monthly from the company account.
• Annual statements are filed with the Central Registry, and the corporate tax return with the tax service early in the following year.
• A foreign director who personally works in the country obtains a residence and work permit.

What the bank checks

• a Central Registry extract and articles;
• tax registration;
• passports of directors and owners, beneficial owner details;
• real activity: office, staff, contracts;
• origin of capital and payment countries.

Currency and payments

Domestic payments are in denars, and company foreign currency accounts are opened in euros and other currencies. The bank checks foreign trade payments against contracts and customs documents. The stable euro rate makes working with EU clients easier.

How opening works

1. Company registration in the Central Registry.
2. Address and tax registration.
3. Bank file and origin of capital.
4. The director's bank visit.
5. Account opening in denars and foreign currency.

Why banks refuse

• The company has no activity in the country.
• Beneficial owners or origin of capital not disclosed.
• Foreign founder's documents without apostille or translation.
• Sanctions risk among owners or counterparties.
• Turnover does not match the company's tax filings.

What we do

Murblz specialists register a company in North Macedonia with locally licensed partners, obtain the tax number, prepare the bank file and support the opening until the decision. If a technology zone fits, we help with the incentive conditions. We quote the cost after a short consultation; the decision always rests with the bank.

What we do

• Corporate account - opening assistance

See also

Company formation · Personal account · Investment property · All country programs

FAQ