From offering a powerful passport and easy access to living and working in the US to low taxation, a fast-growing economy and business-friendly environment, there are multiple reasons to invest in North Macedonia’s Citizenship by Investment programme.
Here, we highlight the top 10 benefits of securing second citizenship of North Macedonia.
1. Primed to become a member of the EU by 2024
North Macedonia has recently acquired NATO membership and more importantly in March 2020 there was an official decision to open EU accession negotiations, which means the country is likely to become a member of the EU by 2024 though there is no guarantee. This would up the passport power of North Macedonia significantly and allow citizens to travel and live freely throughout Europe.
2. Minimum outlay of €200,000
Compared to its nearest competitor Montenegro, also in Europe and with similar benefits but with a starting minimum outlay of €350,000, access to North Macedonia citizenship is a bit of a bargain. That said, there is a requirement for extra fees including processing and due diligence and there are extra costs for family members so in reality you’re looking at a total of €400,000 for a family of four inclusive of fees. However, this is still affordable compared to other European countries offering citizenship such as Malta and Austria, though the latter two do have the major benefit of already being part of the EU whereas North Macedonia isn’t there yet.
3. Ease of application
Claiming to take just 2-5 months and with no mandatory interviews or language/educational requirements and no minimum residency period requirements, applicants need only make one trip to the country before being granted citizenship.
4. Easy access to the US
As one of just four CBI Countries, including Grenada, Turkey and Egypt, to hold the coveted E-2 visa treaty with the US, North Macedonian citizens can apply for a non-immigrant visa to the US meaning they can then both operate a substantial business in the US and reside there. This valuable E-2 visa treaty with the US means that as a North Macedonian citizen, you can apply to reside in the US and obtain permission to do so within 6-8 weeks. Additionally, as a non-immigrant resident, if the main resident stays in the US not more than 122 days per year, no tax on worldwide income is levied. If you decide to migrate to the US through the E-2 visa, you will be allowed to establish, advance and operate a business within the US. Also, your spouse will have work authorisation and your children will be able to attend the school of their choice, with many US states offering in-state tuition at State Universities up to age 21.
5. Flexible tax system
The country offers the lowest corporate and income taxes in the European Union, with a 10% income tax if residing there, zero income tax for non-residents, and no wealth tax.
6. Fast-growing European country with a strong economy
With a highly qualified workforce, dynamic growing economic climate and a booming agriculture and manufacturing industry, North Macedonia has weathered the worldwide economic downturn that began in 2008 better than many other countries and was recognised by The Economist as one of the five countries most improved in 2019. Also, its currency is fixed on the Euro.
7. Business-friendly destination
Known to be one of the easiest countries to do business in worldwide, North Macedonia was ranked 17th on the World Bank’s Ease of Doing Business index in 2020.
8. Free education and health
The country has a state-funded high-standard healthcare system with employees and employers paying contributions into a health insurance fund though private healthcare and health insurance is also available. Primary education is universal and compulsory for eight years from age 7 with a further 4 years of secondary education available in specialised schools and both are free for citizens.
9. Rich cultural diversity
The country is culturally diverse, with a mix of Albanians, Serbs, Bosniaks and Turks, offering a fascinating blend of rich cultures and local traditions with folk music and folk dancing still popular along with traditions such as wood carving. Annual festivals are held from the Balkan Festival of Folk songs and Dances to the Skopje Jazz Festival and an international poetry festival. It is also very welcoming.
10. Healthy, outdoor lifestyle
The country is largely mountainous and in fact boasts more mountains than any other country in the world. It also has an abundance of forest area and plenty of lakes and rivers (including Ohrid Lake, the oldest in Europe and now a UNESCO World Heritage site), which means the lifestyle is focused on the outdoors offering the ideal landscape for hiking, mountaineering, skiing, mountain biking and hunting.
To find out more, visit the North Macedonia Citizenship by Investment programme page here