Real Estate Agency PREMIUM

As a result of a growing interest in Macedonia’s investment potential, a number of international companies have started operations in the country, both as green field projects and through different types of asset acquisition and privatization (the latter includes the purchase of the electricity network company by Austria's EVN, and Macedonian Telecommunications shares by T-Mobile). Other significant foreign investors include Johnson Matthey (UK), Mobilkom Austria (Austria), Societe Generale (France), Johnson Controls (USA), the National Bank of Greece (Greece), Hellenic Bottling Company S.A. (Greece, QBE Insurance Group Limited (United Kingdom), Mittal Steel Holding N.V. (Netherlands), Duferco Lugano (Switzerland),and Titan Group (Greece).

Macedonia is a small, but has a rather diversified economy. The sectors identified as having the most investment and/or export potential include: automotive components, information communications technology, healthcare products (pharmaceuticals and medical devices), agribusiness and food processing industry.

Technological–Industrial Development Zones

(TIDZs) are centers in which highly productive clean manufacturing activities are concentrated and new technologies are developed. Macedonia offers additional incentives for development in the TIDZs, in addition to those normally associated with free economic zones. Investors in TIDZs are entitled to a 10–year profit tax exemption and to a 50% reduction of personal income tax for a period of 5 years, making the effective rate of personal income tax 5%. Investors are exempt from payment of value added tax and customs duties for goods, raw materials, equipment and machines. Land in a TIDZ in Macedonia is available under long-term lease for a period of up to 75 years. Other benefits include completed infrastructure that enables connection to natural gas, water, electricity and access to a main international road network. Investors are also exempt from paying a fee for preparation of the construction site. Fast procedures for business activity registration are provided in TIDZ that further reduce the costs of setting up. The Government pays special attention to production activities, activities from the IT area (software development, hardware assembling, digital recording, computer chips and the like), scientific research activity and new technologies with high environmental standards, for which additional benefits are envisaged in the TIDZs. Investors in TIDZs who operate in these areas are exempt from the liability for submission of a guarantee as collateral for any customs arrears.

Small and medium sized enterprises (SMEs)
The Macedonian Government puts a high priority on the development of the Small and medium sized enterprises (SME) sector, focusing on measures and activities to support the development and to enhance the competitiveness of SMEs, and more generally to improve the business environment. In order to achieve a higher degree of coordination among the relevant factors, the National Council for Competitiveness and Entrepreneurship was established as an advisory body to the Government, linking the private and the public sector for improving the climate for entrepreneurship development.