Personal accounts: North Macedonia

Updated 6 October 2026

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

A personal account in North Macedonia is opened at local banks supervised by the National Bank of the Republic of North Macedonia. It is easiest for a foreigner living in the country on a residence permit, working here or owning property; some banks also open accounts for non-residents on a passport. 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.

Who needs an account in practice

• Home owners in Skopje, Ohrid and other towns, for utilities and property tax.
• People working and relocating, for salary, rent and expenses.
• Owners and directors of local companies, for personal funds separate from the company.
• Students, for tuition and housing.
• Remote workers spending most of the year in the country, for rent and everyday expenses.

What you need

• passport, and for residents a residence permit;
• a Macedonian personal identification number or tax number if assigned;
• an address in the country or your country of residence;
• proof of income and source of funds for large sums;
• a tax residency form;
• for employees, an employment contract with a local employer.

Personal number and residence

Citizens and foreigners with residence permits are given a unique personal number that banks use as the main identifier. A foreigner obtains residence for work, business, study, family or other grounds under the foreigners law; with it the account opens as for a resident, with standard terms and cards.

The account and buying a home

Citizens of EU and Organisation for Economic Co-operation and Development countries buy flats and houses in North Macedonia on the same terms as locals; for citizens of other countries reciprocity applies. Payment for the deal is easiest through a local account; see our property in North Macedonia page.

Deposit protection

The Deposit Insurance Fund repays deposits up to €30,000 in denars, about $33,600, per depositor per bank. Accounts are opened in denars, euros and other currencies; thanks to the stable euro rate, savings are often kept in euros. The limit applies per depositor per bank, so large sums are spread across banks.

Taxes on the account

• Personal income tax is a flat 10%, and deposit interest is taxed at the same rate.
• You become tax resident after more than 183 days in the country in a year.

How opening works

1. Choosing a bank for your status.
2. Documents and proof of address.
3. Branch visit.
4. Account, card, online banking and, if needed, a euro account.

Why banks refuse

• A non-resident with no link to the country or clear purpose.
• Source of funds not proven.
• Sanctions risk by nationality or counterparties.
• Inconsistencies in the tax residency form.
• The address is not backed by documents.

What we do

Murblz specialists choose a bank for your status, prepare documents and the source-of-funds explanation, and support the opening until the decision. If you are relocating or buying a home, we link the account to those tasks. We quote the cost after a short consultation; the decision always rests with the bank.

What we do

• Personal account - opening assistance

See also

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

FAQ