AT A GLANCE
The Republic of Macedonia is rapidly advancing on the path of political and economic reforms towards strengthening the democratic society and the free market economy. The result is political and macroeconomic stability providing much room for growth. The country’s continuous progress has been confirmed by the World Bank’s Doing Business report, which has ranked Macedonia the 4th best reformer in the world for 2008.
Reasons to Invest in Macedonia
Free Market Access
Duty-free access to a market of over 650 million customers through three multilateral (SAA, EFTA and CEFTA) and two bilateral (Turkey and Ukraine) Free Trade Agreements
Excellent Strategic Position
Goods delivered within a day to Central and Eastern Europe and Turkey, and maximum two days to Western Europe
Low Costs
One of the most cost-competitive locations in Europe
Available Workforce
A young (45% under the age of 30) and educated workforce with a strong work ethic and excellent industrial relations record
Low Taxes
Flat corporate and personal income tax rates at 10%; 0% tax on retained earnings
Fast Company Registration
One-stop-shop system for company
registration within 4 hours
Excellent Infrastructure
Wireless national backbone infrastructure, digital telecommunications system, extensive highway network, two international airports with regular
connections to main European transportation centers
Responsive University System
Universities willing to collaborate with incoming investors in meeting skills needs
Excellent Language Skills
English widely spoken, French and German embedded in the education system, regional languages in wide use
High Quality of Life
Highly attractive living and working Conditions
EU and NATO candidate country
MACEDONIA - 3rd REFORMER IN THE WORLD
● 4 hour company registration
● 1/3 of social contributions cut by 2011
● Electronic payment of taxes
● Modernized electronic Real Estate Cadastre
● Significant reforms in the construction permit process
● “One-Stop-Shop” for cross border trading
● The Regulatory Guillotine project – cutting red tape
● Strengthened investor protection
● Liberalized visa regime
INVESTMENT OPPORTUNITIES IN MACEDONIA
Technological Industrial Development Zones (TIDZs – Free Economic Zones)
The TIDZs “Skopje 1”, “Skopje 2”, “Stip”, and “Tetovo” are established to provide special incentives for eligible investors. The TIDZs will host export-oriented production, Information Technology, and scientific research activities, as well as production based on new technologies with high environmental standards. Companies operating out of the TIDZs will enjoy special incentives in terms of strategic location and developed infrastructure, as well as significant tax holidays. The TIDZ incentives package provides the most competitive operating environment in South East Europe.
INVESTMENT INCENTIVES IN THE TIDZs
• 0% corporate income tax for the first 10 years (10% thereafter)
• 0% personal income tax for the first 10 years (10% thereafter)
• No VAT and customs duties for export production
• Subsidy of up to €500,000 towards building costs
• Land lease for up to 99 years at attractive concessionary rates
• Free connection to utilities
• Green Customs Channel expediting export to the EU
• Advantageous location – access to pan-European corridors 8 and 10, railroad, and international airport
NOTICE: These informations are taken from the web site of the Agency for Foreign Investments of the Republic of Macedonia, www.investinmacedonia.com