Registering your LLC in North Macedonia is fast — typically one to two working days. But registration is only the beginning. Once your company is incorporated, seven post-registration obligations apply that every new business owner must address. This page is part of our business and corporate law practice and covers each step in order. If you have not yet registered your company, start with our company registration guide. For a deeper look at ongoing management obligations, see our article on compliance risks for managers in North Macedonia.

Step 1: Register the Ultimate Beneficial Owner (UBO)

This obligation applies to all companies in North Macedonia — not just those with foreign founders. Within 15 days of incorporation, the company must register its Ultimate Beneficial Owner (UBO) with the Central Register. The UBO is the natural person who ultimately owns or controls the company — typically the individual holding more than 25% of the shares or voting rights, or who otherwise exercises effective control.

The UBO registration is a legal obligation under anti-money laundering legislation. Failure to register within the deadline or to keep the information up to date can result in fines and other administrative consequences.

If there is a change in the beneficial ownership structure at any point, the company must update the UBO register within 15 days of the change.

Step 2: Pay the Basic Capital

The minimum share capital for a Macedonian LLC is EUR 5,000 (in denar equivalent). This does not need to be paid at the time of registration — but it must be paid into the company’s bank account within one year of incorporation.

Following the payment, the corresponding corporate change must be recorded in the Trade Register. This requires preparation and notarization of documents, so we recommend completing the payment at least one month before the one-year deadline. Add this to your calendar on the day of incorporation.

Step 3: Register the Foreign Direct Investment (if applicable)

This step applies only if one or more of the company’s founders are foreign nationals or foreign legal entities.

After the basic capital has been paid and the corresponding corporate change has been recorded in the Trade Register, the foreign investment must be registered in the Register for Foreign Direct Investments at the Central Register of North Macedonia. This registration must be completed within 30 days of the capital payment.

The registration results in the issuance of a Foreign Direct Investment certificate. This certificate is relevant for certain regulatory and banking purposes. The procedure typically takes around two weeks.

Failure to register within the 30-day deadline may result in administrative consequences. The registration requirement applies per foreign investor — if there are multiple foreign founders, each investment must be registered separately.

Step 4: Open a Corporate Bank Account

A corporate bank account is required before the basic capital can be paid in (Step 2). The account must be opened in the company’s name at a bank of your choice operating in North Macedonia.

Note that the company manager must appear in person at the bank to finalize the account opening. We can assist with preparing the necessary documentation and coordinating the bank appointment.

Step 5: Engage an Accountant and Consider VAT Registration

Before commencing business activities, you must engage an accountant. A Macedonian LLC is required to maintain bookkeeping records and submit regular tax filings from the moment it becomes active.

VAT registration is optional initially, but can be carried out at one of three points:

• Within the first 15 days after incorporation,
• At the beginning of a new calendar year, or
• Once the company reaches the annual income threshold.

VAT registration becomes mandatory once the threshold is exceeded. Registering voluntarily from the start can be advantageous if you plan to issue invoices to VAT-registered clients in North Macedonia.

Step 6: Submit the Annual Financial Report

Every LLC in North Macedonia must submit an annual financial report to the Central Register by the end of February for the previous calendar year. The report must be prepared by a licensed accountant.

Failure to submit the annual report on time may result in fines. Persistent non-compliance can ultimately lead to the dissolution of the company by the Trade Register. This obligation applies from the first full or partial calendar year of operation.

Step 7: Notify the State Labor Inspectorate

Before commencing operations — and before hiring any employees — the employer must notify the State Labor Inspectorate of the planned start of activities. This notification must be submitted no later than eight days prior to the planned commencement date.

For questions about employment obligations once you start hiring, see our guide on employment law in North Macedonia and our overview of salary allowances for private sector employees.

Quick-Reference Checklist

After your LLC is incorporated, work through this checklist in order: (1) Register the UBO within 15 days of incorporation — applies to all companies. (2) Open a corporate bank account — required before paying in capital. (3) Pay EUR 5,000 within one year — record the corporate change in the Trade Register at least one month early. (4) Register the FDI within 30 days of capital payment — only if founders are foreign nationals or entities. (5) Engage an accountant before starting business activities; consider VAT registration. (6) Notify the Labor Inspectorate 8 days before starting operations. (7) Submit annual report by end of February every year. (8) Foreign documents may need an Apostille stamp to be valid in North Macedonia.

Frequently Asked Questions

Does UBO registration apply to all companies or only foreign-owned ones?

All companies registered in North Macedonia must register their Ultimate Beneficial Owner, regardless of whether the founders are domestic or foreign. The 15-day deadline runs from the date of incorporation, and any subsequent changes must also be updated within 15 days.

When must the EUR 5,000 capital be paid?

Within one year of the date of incorporation. We recommend paying at least one month early to allow time for document preparation and notarisation of the corporate change in the Trade Register.

What is the FDI register and do I need to register there?

The Register for Foreign Direct Investments is a separate register maintained by the Central Register of North Macedonia. Registration is required only if one or more founders are foreign nationals or foreign legal entities. It must be completed within 30 days of the capital payment and Trade Register update, and results in the issuance of an FDI certificate.

Does the manager need to be present to open a bank account?

Yes. The company manager must appear in person at the bank to finalize the corporate account opening. This is a bank compliance requirement and cannot be completed remotely or by proxy in most cases.

What happens if we miss the annual report deadline?

Failure to submit the annual financial report by the end of February can result in financial penalties. Persistent non-compliance may lead to the company being dissolved by the Trade Register.

Need legal guidance?

If you have questions about your post-registration compliance obligations in North Macedonia, the team at Lalicic & Partners is at your disposal. Contact us through our website.