The Simplified Limited Liability Company is a newly introduced business structure designed to help startups quickly and affordably launch their businesses in North Macedonia. With a minimum share capital of just 1 euro, anyone with a good business idea can start a company without significant financial investments, making it a perfect solution for aspiring entrepreneurs and innovators.
Key features of a simplified LLC:
- Minimum Share Capital: Only 1 euro is required to start the company.
- Minimum Nominal Share: Shares can be as small as 10 cents.
- Whole Euro Values: Share capital and business shares must be expressed as whole numbers in euros.
- Cash Contributions Only: Contributions for business shares can only be made in cash.
- Registration Requirement: The company can only be registered in the Trade Register after the shares are fully paid.
Mandatory reserve for financial stability
- The simplified LLC is required to maintain a mandatory reserve, which helps ensure the company’s financial stability.
- One-quarter (25%) of the company’s annual profits must be allocated to this reserve.
- The reserve can be used for:
- Increasing share capital by transferring the reserve into the company’s capital.
- Covering current-year losses if they cannot be covered by profits.
- Covering previous-year losses not covered by current-year profits.
If the company increases its share capital to 5,000 euros or more (the minimum requirement for a standard LLC), it can change its legal form to a standard LLC (DОО) while keeping its existing name.
Why is the simplified LLC a great choice for startups?
The Simplified Limited Liability Company makes it easy for anyone to start a business with minimal investment. For just 1 euro, entrepreneurs can launch their startups without the burden of large upfront costs, complex processes, or significant financial commitments. This makes it an ideal choice for:
- Young entrepreneurs
- Tech startups
- Small businesses with innovative ideas
By reducing barriers to entry, the simplified LLC encourages more individuals to turn their business ideas into reality and contributes to economic growth.
Key Benefits for startups
- Low startup costs (1 euro capital).
- Simple registration process.
- Legal protection through limited liability.
- Financial flexibility with a clear reserve structure.
Whether you are an individual or a small team of up to three founders, the Simplified LLC gives you the opportunity to start, grow, and scale your business with ease.
Start your business today with a Simplified LLC – where innovation meets opportunity!
