North Macedonia: How to Move There? (Residence Permits, Taxes, Citizenship)

How to Move to North Macedonia

00:00 Intro
01:25 EU Citizens and Non-EU Citizens - N. Macedonia Status
02:48 Residence Permit in Macedonia (general types)
03:13 Residence Permit by opening a company
04:18 Residence permit by owning real estate
05:33 Permanent residence permit in NMK and Citizenship
05:48 Citizenship by investment
06:18 Advantages and disadvantages of living in North Macedonia

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EU and Non-EU citizens

-North Macedonia is currently not part of the European Union, neither of the Schengen area, nor it uses the Euro as its currency.
-But NMK is currently a candidate country to the EU. After the country changed its name from MK to NMK, it’s chances to join the block have improved.
-However, for a number of reasons, I do not believe North Macedonia will join the EU in the next 5 to 10 years, at least.
-EU citizens have some advantages in NMK though. They can enter the country with a national ID for example. There are other advantages

Residence Permit in NMK (general types)

-The most common types of residence permits in North Macedonia are for employment, or if you have a family member in the country
-We will focus on options if you are an independent businessman, an investor, or if you want live a passive life and retire in North Macedonia

Company formation (company directors, self-employed people)

-One of the best options to get a residence permit in North Macedonia is by opening a company and hiring yourself.
-By owning your own company, and running it actively, you will have grounds to live in North Macedonia.
-You don’t have to hire anyone if you are not a citizen (like in many EU countries), and you will still be able to get a residence permit.
-There are also no minimum financial requirements. If you have enough capital to start your activity and pay taxes, that is enough to get your residence permit. Of course if it becomes clear to the authorities you do not have funds to maintain your stay or the company, it would complicate the approval of the residence permit.

Residence Permit by Buying Property in North Macedonia

-The second option which I consider ideal is by investing in property in North Macedonia.
-Buying property in Macedonia is a great option, but it is not open to citizens of every country.
-If you buy a residential property of a value of at least 40k euros, you will be eligible to apply for a residence permit in North Macedonia.
-This option is one to be considered if you are a retired person (foreign pension), an investor (stock investor), but also if you want to run a business based abroad and live in North Macedonia.
-It is important to say that this option is only open to EU and OECD country members. OECD countries include Australia, the US, the UK, Canada, Turkey, Japan, Chile, Switzerland and some other countries.

Permanent residency in North Macedonia and Citizenship by naturalization

To acquire permanent residency in North Macedonia, you need to live in the country for 5 years.
North Macedonian Citizenship:

-if you ultimate goal is to acquire North Macedonian citizenship, you will need at least 8 years living in North Macedonia.

North Macedonia is also launching this year a Citizenship by Investment program. The price of the program is roughly 250k euros inclusive of fees for one person. If you are applying as a family the price decreases per person depending on the number of family members.

Advantages of living in North Macedonia:

-Good location in Europe
-Relative easy paths to acquire residency, especially if you are coming from a visa exempt country.
-Safe country.
-Low taxes. Personal income is taxed at a 10% rate minimum, and in some cases from 15 to 18%. 18% is the Maximum. Corporate income taxes are 10%, but in some cases depending on the size and type of company, can have a rate of just 1%.

Disadvantages

-Weather (hot summers and polluted winters in Skopje)
-Poor transportation links.
-Low income (which can be an advantage or a disadvantage).