Financial Support for Investments in North Macedonia – 2026 Amendments

The Law on Financial Support of Investments regulates the types, amounts, conditions and procedure for granting financial support to business entities investing in the Republic of North Macedonia. The support constitutes a state-aid scheme and is therefore also subject to the legislation governing the control of state aid.

On 19 May 2026, the Assembly adopted the latest amendments to the Law. They were published in the Official Gazette of the Republic of North Macedonia No. 111/2026 on 26 May 2026 and entered into force on the same date.

Unlike earlier reforms, the 2026 amendments do not expand the available categories of financial support. They clarify one principal eligibility requirement, introduce a limited exception for grape-wine producers, establish a special application deadline for 2026 and complete the institutional transfer of the investment-support system to the Ministry of Economy and Labour.

This page is part of our practice in business and corporate law, through which we advise domestic and international investors on investment structuring, regulatory compliance and financial-support applications in North Macedonia. Investors preparing an application often also find our guides to operating a foreign subsidiary in North Macedonia and legal due diligence in North Macedonia useful.

Minimum Productive Initial Investment of EUR 100,000

The principal substantive amendment concerns the eligibility condition in Article 9. To qualify, a business entity must have commenced a productive initial investment in the year preceding the application or in the year in which the application is submitted.

The productive initial investment must have a total value of at least EUR 100,000, calculated in Macedonian denar equivalent according to the middle exchange rate of the National Bank of the Republic of North Macedonia.

The amendment clarifies both the minimum investment amount and the period in which the investment must commence. It does not replace the other applicable eligibility requirements. An applicant must also satisfy the statutory conditions concerning operating-revenue growth and maintenance of the average number of employees, unless a specific statutory exception applies.

What Constitutes a Productive Initial Investment?

Under the wider statutory framework, a productive initial investment generally concerns investment in tangible or intangible assets connected with manufacturing activities. It may relate to:

• establishing a new business entity;
• expanding the production capacity of an existing entity;
• introducing a production process or new products;
• making a fundamental change to the overall production process; or
• acquiring qualifying fixed assets from a business entity in bankruptcy.

The EUR 100,000 threshold does not mean that every expense incurred by an applicant automatically qualifies. The nature of the investment, the assets concerned, the commencement date and the supporting documentation must be assessed against the Law, the selected measure and the applicable implementing regulations.

New Exception for Grape-Wine Producers

The Law generally excludes business entities producing excise goods from receiving financial support. The 2026 amendments introduce an express exception for the production of wine from grapes. Grape-wine producers are therefore no longer automatically excluded solely because their products are subject to excise regulation.

The exception is limited to grape-wine production and does not create a general exemption for other producers of alcoholic beverages or excise goods. A grape-wine producer must still satisfy all remaining general and measure-specific requirements.

Special Application Deadline for 2026

Business entities seeking financial support in 2026 were required to submit their applications no later than 15 June 2026. This was a special transitional deadline for the 2026 application cycle and has now expired.

Businesses considering a future application should verify the deadline applicable to the relevant year and should not assume that the 15 June deadline will continue to apply. Under the general statutory framework, applications are ordinarily submitted to the Ministry of Economy and Labour by 31 May, unless a later amendment or special provision establishes a different deadline.

Payment of Support Under 2025 Agreements

The amendments permit payments arising from financial-support agreements and annexes for 2025 to be made during 2026 from the budget of the Ministry of Economy and Labour.

This transitional provision preserves the possibility of payment following the institutional and budgetary transfer of responsibilities. The right to payment remains subject to the relevant agreement or annex, fulfilment of the beneficiary’s obligations, verification of eligible costs and the applicable budgetary arrangements.

Transfer of Agreements and Documentation

The Directorate for Technological Industrial Development Zones, the Agency for Foreign Investments and Export Promotion and the General Secretariat of the Government were required to transfer the financial-support agreements concluded in 2025, together with the accompanying documentation, to the Ministry of Economy and Labour by 31 July 2026.

Earlier financial-support agreements, annexes and related documentation must also be transferred to the Ministry within one year from the entry into force of the amendments. Documentation is transferred in its existing condition. Where documentation is incomplete or damaged, an official record must describe its condition and the extent of the deficiency or damage.

For existing beneficiaries, the Ministry of Economy and Labour is therefore becoming the central administrative point for previously concluded financial-support agreements.

Transfer of Employees and Administrative Resources

Employees of the Agency for Foreign Investments and Export Promotion who performed work relating to the award and payment of investment support until 31 December 2025 are transferred to the Ministry of Economy and Labour within two months from the entry into force of the amendments.

The equipment, inventory and other working resources used by those employees are transferred within the same period. These provisions are organisational and do not constitute new forms of support.

Do the Amendments Introduce New Support Measures?

No. The 2026 amendments do not add new support categories and do not expand the measures relating to research and development, significant investment projects, acquisition of businesses in difficulty or market competitiveness. Those measures arise from earlier versions and amendments of the Law.

The 2026 changes are confined principally to:

• the EUR 100,000 minimum productive-initial-investment requirement;
• the exception for grape-wine producers;
• the special application deadline for 2026;
• payment arrangements relating to 2025 agreements;
• transfer of agreements and documentation; and
• transfer of employees, equipment and administrative responsibilities to the Ministry.

Practical Implications for Investors

Prospective applicants should determine whether their project constitutes a productive initial investment and whether qualifying expenditure of at least EUR 100,000 commenced within the legally relevant period.

Applicants should retain clear accounting, contractual and payment evidence identifying the relevant assets, expenditure, suppliers and commencement date. General operating expenditure should be separated from expenditure forming part of the investment project.

Grape-wine producers may now assess their eligibility without being automatically excluded as producers of excise goods. Beneficiaries with agreements or annexes from 2025 should confirm the status of their files and payment procedure with the Ministry of Economy and Labour.

Practical Checklist

Before preparing an application, verify the following: (1) Productive initial investment – confirm that the project falls within the statutory definition. (2) Minimum amount – establish that qualifying investment expenditure reaches at least EUR 100,000. (3) Timing – confirm that the investment commenced in the preceding year or the application year. (4) Other eligibility conditions – review revenue growth, employment and measure-specific requirements. (5) Exclusions – confirm that no statutory exclusion applies. (6) Evidence – retain contracts, invoices, payment documents and records of the commencement date. (7) Deadline – verify the application deadline for the relevant year. (8) Competent authority – confirm the current forms and supporting-document requirements of the Ministry of Economy and Labour.

Frequently Asked Questions

What is the minimum investment required under the 2026 amendments?

The applicant must have commenced a productive initial investment with a total value of at least EUR 100,000 in the year preceding the application or in the application year.

Does investing EUR 100,000 automatically make a company eligible?

No. The threshold is only one statutory condition. The applicant must satisfy the other applicable eligibility requirements, avoid the statutory exclusions and meet the conditions of the requested support measure.

Can producers of excise goods receive financial support?

As a general rule, producers of excise goods remain excluded. The 2026 amendments introduce an express exception for producers of wine from grapes.

What was the deadline for submitting an application in 2026?

The special deadline was 15 June 2026. It has expired and should not be treated as the automatically applicable deadline for future application cycles.

Did the amendments introduce new categories of financial support?

No. The amendments primarily concern the investment threshold, the grape-wine exception, the 2026 deadline and transitional administrative arrangements.

Which authority now administers financial support?

The Ministry of Economy and Labour is the central authority responsible for the relevant procedures.

Can support under a 2025 agreement be paid in 2026?

Yes. The amendments allow payment during 2026 from the Ministry’s budget, subject to the agreement, compliance verification and applicable budgetary arrangements.

Last updated: September 2026

Note: The above does not constitute legal advice and in no way can be accepted or understood as an instruction to act in a specific case. Each legal situation has its own characteristics that should be reviewed at separately, and for that reason we recommend that you contact a professional – a lawyer – for legal advice.