North Macedonia has officially opened a very interesting and special citizenship by investment (CBI) program attractive for international investors.
The Citizenship by Investment program of Republic of North Macedonia by which FITD (Fund for Innovation and Technology Development) determines the economic interest for citizenship, was officially launched by the Government of North Macedonia on the 13th December 2019.
CIP – Citizenship Investment Program of North Macedonia
The Macedonian CIP Program allows foreigners that have invested capital in the amount of at least 200,000 € per person, in a private investment fund established in accordance with the laws of the Republic of North Macedonia, to be eligible to apply for citizenship of the Republic of North Macedonia.
Why North Macedonia?
- Strategic geographical position at the crossroads of 2 main European transport corridors
- Member of NATO and EU candidate country
- Highly liberalized foreign trade policy and has signed various bilateral agreements that give local producers free access to the European Union and other markets, making North Macedonia a highly competitive production and export platform
- Stable monetary environment with one of the lowest inflation rates (2.3% in 2020) in the region and stable currency (1€=61.5MKD)
- Very favorable tax environment (10% personal and corporate income tax and 18% general VAT rates)
- Several investment zones with 10 years tax holidays for corporate profits, employment income, VAT, customs duties and others
- Fast company registration – one stop-shop system for company registration within 4 hours
- Highly – qualified workforce and one of the most competitive labor costs in EU
Citizenship Benefits
- Fast tracked citizenship by investment program
- Respected European citizenship and passport
- Apply for E-1 and E-2 visa to United States
- Visa free access to over 125+ countries
- No residence or requirement to live in the country
- Permanent dual citizenship for life.
Legal Background
Decree for Determining the Criteria for Particular Scientific, Economic, Cultural, Sports or Other National Interest for Acquisition of Citizenship of the Republic of North Macedonia (“Official Gazette of the Republic of Macedonia” No. 9/2005; No. 161/2012; No. 255/2019 and No.42/2021);
Pursuant to Article 22 paragraph 1 of the Law on Innovation Activity (“Official Gazette of the Republic of Macedonia” No. 79/13, 137/13, 41/14, 44/15, 6/16, 53/16, 190/16 and 64/18), the Managing Board of the Fund for Innovation and Technology Development, at the session, held on 19.04.2021 in Skopje adopted
The “Particular Economic Interest” exists if the foreigner who submitted an application for acquiring citizenship of the Republic of North Macedonia,
- has invested capital in the amount of at least 200,000€ (two hundred thousand) euros per person,
- for a period of at least two years, in a private investment fund and it is determined in accordance with the criteria set out in the Decree;
The procedure for acquiring citizenship of the Republic of North Macedonia shall initiate with a request from a foreigner who has personally submitted an application for citizenship of the Republic of North Macedonia and shall be conducted by the Ministry of Interior, in accordance with the Law on Citizenship of the Republic of Macedonia.
Once the documentation is submitted by the Ministry of Interior to the Fund for Innovation and Technology Development in accordance with the Decree, the Fund on the basis of it shall determine the existence of the particular economic interest.
Foreigners who submitted an application for acquiring citizenship of the Republic of North Macedonia, has invested capital in the amount of at least 200,000 (two hundred thousand) euros per person, for a period of at least two years, in a private investment fund established in accordance with the laws of the Republic of North Macedonia.
CIP Approved Funds
The following two funds have been currently approved to participate in the program.
- North Macedonia Economic Development
- Registered Symbol: MKED
- SEC No: RPIF 2225022020NOMAEKDE7385200
- Fund Management by: Economic Development dooel Skopje
- Fund Management Registration No: 7385200
2. North Macedonia Industrial Innovation Fund
- Registered Symbol: MKII
- SEC No: RPIF 2325022020NOMAININ7385404
- Fund Management by: Industrial Innovation dooel Skopje
- Fund Management Registration No: 7385404
Brochure
Citizenship brochure – Download pdf
Rules for Private Investment Fund
A particular economic interest shall be deemed to exist if a foreigner has applied for citizenship of the Republic of Northern Macedonia by investing capital in the amount of at least 200,000 (two hundred thousand) euros, for a period of at least two years, in a private investment fund, which meets the following criteria:
– the investment fund to have a minimum of 5,000,000 (five million) euros of initial capital before submitting the investment program to the Fund for Innovation and Technology Development;
– the investment fund to invest in support of the economy, innovations or innovative activities, but not to invest in real estate of any kind, except in business premises for the needs of the private investment fund or the Fund for Innovation and Technology Development and in development infrastructure projects;
– the investment fund not to have more than 500 foreigners as investors who have submitted an application for acquiring citizenship of the Republic of Northern Macedonia on the basis of the Decree.
North Macedonia Passport
The North Macedonia passport is a highly respected travel document with visa free entry to over 125+ countries in the World.
Europe: Albania, Andorra, Austria, Belgium, Bosnia and Herzegovina, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Moldova, Monaco, Montenegro, Netherlands, Norway, Poland, Portugal, Romania, San Marino, Serbia, Slovakia, Slovenia, Spain, Sweden, Switzerland, Ukraine, Vatican City.
America: Argentina, Bahamas, Brazil, Chile, Colombia, Cuba, Dominica, Dominican Republic, Ecuador, El Salvador, Guatemala, Honduras, Panama, Peru, Saint Kristofer and Nevis.
Africa: Seychelles, Tunisia.
Asia: Indonesia, Israel, Japan, Malaysia, Singapore, Turkey.
