The worldwide situation with covid-19 will change the way we work and businesses need to find a different way to operate so they can stay on the market. The first thing is reducing expenses. In this article, I would like to explain to you why now is a smart business move to start or transfer your business in North Macedonia.
There is a reason why North Macedonia is called the new business heaven in Europe. The location, competitive and qualified labor force, expenses, and low taxes are just a few advantages of doing business in North Macedonia. Considering that the laws, and legal system in N. Macedonia are almost identical to Europe the combination makes North Macedonia a new business heaven in Europe. I will try to help you understand what is the easiest way to start your business in North Macedonia and why you should start your business here no matter if you have a startup or already established business somewhere.
You can register a company almost without coming here. First, you must find a lawyer to prepare the papers and submit the registration to the registration office. The first smart move is choosing a lawyer who can guide you in the basics. Registration or company formation is a simple and fast process. You can start in less than a week since you found a lawyer to register your company. Your lawyer/attorney can help you find a place, accounting, employees, work, and permit visas, and can find you the perfect candidate to leave your business management so you can concentrate on your business core.
Is there anything more desired than low tax rates for businesses? In Macedonia, tax rates are percentage-based and are 10%. There are a few types that you need to know. That is the personal Income Tax with a 10% tax rate and profit tax with a 10% tax rate. These tax rates are almost the lowest in Europe.
The cost for your business is the lowest in Europe. Starting from renting an office in the center of Skopje can save you thousands of euros compared to other European capitals. Depending on your needs you can rent an office for as low as 300 euros and up per month with low expenses for heating, electricity office supplies, etc. Also, the cost of legal services and accounting ( as essential ) is accessible and you can make a contract to pay a monthly fixed fee. Labor costs are also cheaper than in Europe. Don’t get the wrong idea that people in N. Macedonia will work for free. You can find highly qualified and motivated employees and save 20-30% of gross pay compared to Europe.
People in Macedonia are often qualified considering that they have almost free education. Also, there are plenty of people who have an education at some of the best universities in the world. It doesn’t matter if you need a marketing specialist, software engineer, HR manager, or factory worker you can be sure you can find a highly qualified workforce.
This is just scratching the surface when I’m writing about possibilities available for your business in North Macedonia. These are just a few reasons why plenty of outsourcing companies choose North Macedonia.