One of the European countries that still offer citizenship by investment is North Macedonia. The scheme targets foreign investors and high net worth individuals interested in moving here or simply holding a Macedonian passport. At the beginning of 2021, the golden visa program suffered some alterations on which this article focuses.
Our golden visa agents can help you apply for North Macedonian citizenship by investment.
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Macedonia’s citizenship by investment – requirements for investors
The Macedonian golden visa is open for investors, and talented and wealthy individuals. According to the government, the program’s simple goal is to increase the economy through foreign direct investment.
Applications are accepted for the main candidates who can also bring spouses and dependent children. The main condition is that the principal investor is at least 18 years old. Once both or one of their parents has obtained citizenship, dependent children under the age of 18 will qualify for citizenship by descent.
At the moment, North Macedonia is one of the few citizenship by investment countries with such a program in 2024. However, it must be noted that it is not an European Union member state.
Investment options under the Macedonian golden visa program
People interested in applying for a 2024 Macedonian passport by investment have two options under this special program:
- the first one requires each adult candidate to deposit at least EUR 200,000 in a private investment fund, and hold it for at least 2 years;
- the second option implies a direct investment of at least EUR400,000 per adult candidate in new companies with at least 10 employees and employment contracts for a minimum of one year.
There are also exceptions to the sectors in which an investor can set up companies in. Applicants cannot set up businesses in the food and beverages and hospitality industries.
To these financial requirements, the following fees will apply when immigrating with other family members, as follows:
- EUR 20,000 for the main applicant;
- EUR 20,000 for the spouse;
- EUR 10,000 per dependent child under the age of 18.
The North Macedonian citizenship by investment program is one of the most advantageous in terms of financial requirements in Europe.
Documents required for the Macedonian passport by investment in 2024
The file with the documents for Macedonia’s citizenship by investment scheme must contain the following:
- valid passports of all applicants;
- clearance certificates from the police;
- comprehensive curriculum vitae for the main applicant;
- financial evidence of meeting the program’s requirements.
Please mind that the documents stating the source of the funds may also be required during the due diligence process, which is a part of the application procedure with the North Macedonian Government.
Steps in applying for a golden visa in North Macedonia
Those interested in North Macedonia’s citizenship by investment in 2024 must complete the following steps:
- submitting the application file with all required documents;
- due diligence checks will be the second step in the application process;
- the file will then be forwarded to the governmental agency handling applications.
The processing of applications takes between 3 and 6 months. After this timeframe, adult applicants will directly receive their Macedonian passports.
If you need support in first verifying if you meet the program’s requirements, our agents are at your disposal. This step will increase your chances of having your file accepted from the first application.
Why move to North Macedonia in 2024
With a North Macedonian passport, you can enter 125 countries without a visa or obtain one upon arrival, including the Schengen Area. Apart from this benefit:
- setting up a business is simple, and so is undertaking various liberal professions;
- candidates can submit a joint application alongside their spouse and any minor children;
- citizenship can be inherited by subsequent generations;
- the country has low tax rates and no income tax collection from non-residents (10% income tax and corporation tax);
- it offers a robust healthcare system;
- North Macedonia is also a candidate for the European Union and a NATO member;
- to become a citizen, there is no minimum residency or language requirement.
Feel free to contact us and ask for the support of our golden visa consultants for a safe and fast application for citizenship by investment in North Macedonia.