The Citizenship by Investment program of Republic of North Macedonia by which FITD (Fund for Innovation and Technology Development) determines the economic interest for citizenship, was launched by the Government of North Macedonia on the 13th December 2019.
The Program allows foreigners that have invested capital in the amount of at least 200,000 € per person, in a private investment fund established in accordance with the laws of the Republic of North Macedonia, to be eligible to apply for citizenship of the Republic of North Macedonia.
Click here to read the official Guidelines describing the implementation of the procedure by the FITD for determining particular economic interest of the Investment Fund, interested in participating in the “Citizenship by Investment Program.”
The following steps are essential for the approval of the Citizen by Investment Program
Step 1: (If applicable) Register a Private Fund Management Company (PFMC) in the form of a Limited Liability Company (LLC) or Joint Stock Company (JSC).
The PFMC can be a newly created entity or an existing company on the Macedonian market. To be eligible for the program, the PFMC has to fulfil the following conditions:
Step 2: Create a Private Investment Fund (PIF) that will be operated by the PFMC.
Step 3: Prepare a Programme of the PIF intended for support of the economy, innovations and investment development of the Republic of North Macedonia and submit it to the Fund for Innovation and Technology Development (FITD) along with the Statute and Prospect for consent.
Step 4: Individuals who have invested in the fund apply for granting citizenship in the Ministry of Interior (MoI) with documentation defined by the Ministry.
There will be a team within the Ministry dedicated to processing this type of applications to ensure speedy processing.
Step 5: The Ministry of Interior will ask the FITD for to determine the special economic interest of the applicants.
Click here to view the full roadmap for the program.
The following two funds have been currently approved to participate in the program.
North Macedonia Economic Development
Registered Symbol: MKED
SEC No: RPIF 2225022020NOMAEKDE7385200
Fund Management by: Economic Development dooel Skopje
Fund Management Registration No: 7385200
North Macedonia Industrial Innovation Fund
Registered Symbol: MKII
SEC No: RPIF 2325022020NOMAININ7385404
Fund Management by: Industrial Innovation dooel Skopje
Fund Management Registration No: 7385404
If your Fund is interest in applying for the Citizenship by Investment Program click here.
Government type: parliamentary republic
Real GDP growth rate: 0% (2017 est.); 2.9% (2016 est.);
3.9% (2015 est.)
Credit ratings: Fitch rating: BB+ (2019);
Standard & Poors rating: BB- (2013)
Currency: Macedonian denar (MKD)
Travel free visas for Macedonian passport
Europe: Albania, Andorra, Austria, Belgium, Bosnia and Herzegovina, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Moldova, Monaco, Montenegro, Netherlands, Norway, Poland, Portugal, Romania, San Marino, Serbia, Slovakia, Slovenia, Spain, Sweden, Switzerland, Ukraine, Vatican City.
America: Argentina, Bahamas, Brazil, Chile, Colombia, Cuba, Dominica, Dominican Republic, Ecuador, El Salvador, Guatemala, Honduras, Panama, Peru, Saint Kristofer and Nevis.
Africa: Seychelles, Tunisia.
Asia: Indonesia, Israel, Japan, Malaysia, Singapore, Turkey.
If you require any further information, please do not hesitate to contact us.