UBO Registration: A Crucial Step

Once you receive the company registration certificate for your LLC from the Central Register in North Macedonia, it’s time to shift your focus to UBO registration. The UBO is a critical document that identifies the Ultimate Beneficiary Owners of your company, and this registration must be done promptly. Fortunately, it’s a straightforward electronic process, facilitated by authorizing your registration agent.

Identifying UBOs

Before initiating the UBO registration, you must identify each person who owns more than 25% of the company, either directly or indirectly through other legal entities. Record their names, passport numbers, addresses of residence, and the percentage of ownership. Ensuring accurate UBO identification is essential for compliance.

Preparing for the Bank

With your UBO certificate in hand, you are now ready to take the next step: opening a bank account for your North Macedonian LLC. However, before heading to the bank, ensure you have your company stamp with you. This stamp is required for you to sign the official bank documents for any bank in North Macedonia.

When you arrive at the bank, be prepared for a few essential steps. The bank will typically require the manager of the company to be present in person. Additionally, you’ll need to notarize a form known as “ZP.” This form is a standard requirement for company bank account openings in North Macedonia.

UBO Documentation and Proof of Business Intent

To open a bank account successfully, you must have your UBO documentation ready and prepared for the bank’s review. Keep in mind that banks scrutinize their new clients, so be prepared to present proof that you intend to run a legitimate business in North Macedonia.

In conclusion, UBO and bank account registration in North Macedonia are essential steps following your LLC company formation. Ensuring compliance with UBO identification and documentation is crucial for a smooth bank account opening process. Remember, banks are vigilant about their clientele, so demonstrating your commitment to operating a genuine business in North Macedonia is key to a successful account opening.

By following these steps and guidelines, you’ll be well on your way to establishing and growing your business in North Macedonia’s thriving market.