Recently, North Macedonia, a European country from the EU enlargement target area, ranks alongside Montenegro in the forefront of EU accession and is expected to join the EU in the coming years, has launched a new investment citizenship program that has attracted global investors' attention! As an active promoter of European investment immigration projects, the WorldWay Group, which has focused on investment immigration for over 20 years, is proud to introduce this project to investors. So, what exactly makes North Macedonia so appealing to investors?
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North Macedonia is one of the countries in Europe with lower tax rates, which is beneficial for investors to allocate global assets.
As a European country in the Balkan Peninsula, North Macedonia has a very low tax burden, with a relatively low overall tax burden among European countries. According to the assessment report released by the World Bank and PwC, North Macedonia ranks 7th lowest in the world in terms of tax burden. It not only exempts inheritance tax and gift tax but also exempts citizens who reside in North Macedonia for less than 183 days from foreign income tax, making it very advantageous for investors to pass on wealth at a low cost! Currently, the North Macedonian government implements a unified tax system, with corporate income tax and personal income tax set at only 10%, which is relatively low even in Europe and the world!
What advantages does North Macedonia have in terms of personal income tax? Let’s take Japan, South Korea, Russia, and Ukraine as examples. Japan adopts a progressive tax system, where different income brackets are taxed at different rates, with the highest rate at 40%; South Korea uses a comprehensive progressive system, also with a maximum of 40%; Ukraine has a rate of 18%; and Russia has two categories, with residents at 13% and non-residents at 30%.
What advantages does North Macedonia have in terms of corporate income tax? Let’s take the globally renowned low-tax region of Singapore as an example. Singapore follows a low tax rate and simple tax system, taxing corporate profits over 300,000 Singapore dollars at a maximum rate of 17%, while North Macedonia's maximum corporate income tax rate is only 10%, which is even lower than Singapore!
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North Macedonia is known as the "New Business Paradise in Europe" and is an ideal destination for overseas investment.
In recent years, North Macedonia has been focused on attracting foreign investment and developing an open economy as an important goal for promoting domestic economic development, possessing strong competitiveness in location, taxation, labor force, and other areas, earning it the title of "New Business Paradise in Europe." The government emphasizes attracting foreign investment and has introduced preferential policies in areas such as taxation, land, and customs clearance.
Currently, in the Technological and Industrial Development Zones of North Macedonia, foreign-invested enterprises can enjoy a 10-year exemption from corporate income tax and personal income tax, as well as exemptions from value-added tax, property tax, and consumption tax; profits from foreign investment that are reinvested are also exempt from taxation. Additionally, North Macedonia has ranked 5th in the World Bank's list of best reforming countries and 10th in the World Bank's business environment report globally, demonstrating outstanding performance in capital flow, government operation, and investor protection, making it an ideal destination for individual investors to engage in overseas investment.
The launch of the North Macedonia Investment Citizenship Program in 2021 provides investors with another excellent option for quickly obtaining an EU passport.
Currently, North Macedonia is an EU candidate country and has been included in the EU's eighth enlargement plan. According to the EU Commission's enlargement strategy for the Western Balkans, North Macedonia ranks alongside Montenegro in the forefront of the specific steps for the six Western Balkan countries to join the EU! For investors, the official launch of the North Macedonia citizenship program in 2021 opens up another excellent option for investors to quickly obtain an EU passport, which is bound to spark a wave of investment immigration to North Macedonia! Currently, investors can apply for the North Macedonian passport through the North Macedonia Distinguished Citizen Program by donating 200,000 euros to a fund designated by the North Macedonian government.
For more details on obtaining the North Macedonian passport as an EU candidate country in 2021, please call the WorldWay Group service hotline: Mainland China: 400-138-2929 Hong Kong: (852) 2802 8798
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* Investment involves risks; please choose carefully. The above information is for reference only.*