Macedonia

The ISO code of Macedonia is MK according to the ISO 3166 standard. The local name of the country is Makedonija. Macedonia capital city is Skopje. People in Macedonia speak the Macedonian language. On 2 August 1944, Macedonia emerged as a sovereign political entity. In the year 08/02/1944, Macedonia emerged as a sovereign political entity. The largest city in Macedonia is Skopje.

Macedonia is located in the UTC +01:00 time zone, which is also called Central European Time or CET. The internet country code top-level domain (ccTLD) for Macedonia is .mk. Other domains assigned to Macedonia are .мкд. The International dialing code for Macedonia is 389. People in Macedonia drive on the right side of the road. Total land area of Macedonia is 25,713 km² (approx. 9,928 mi²). Macedonia is a landlocked country.

Macedonia is located in Europe. Macedonia is considered to be a developing nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life.

Doing business in Macedonia

We offer various corporate services in Macedonia jurisdiction. These services can serve both, people coming from Macedonia and foreigners. If you plan on doing business in Macedonia you might be interested in contacting us.

To find out about starting your business in Macedonia click on company formation in Macedonia.

To find out how to open a bank account in Macedonia and moreover what type of account Confidus Solutions suggests to create, please click on bank account in Macedonia.

Choose preferred service below or continue reading to find out more about Macedonia.

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Demographics of Macedonia

The total population of Macedonia is 2,085,051 people. In Macedonia, the population density is 80 people per square kilometer (208 per square mile). Because of this statistic, this country is considered to be sparsely populated. The ethnic diversity is rather diverse according to a fractionalization scale which for Macedonia is 0.5023. Macedonia has approximately 130730 foreign immigrants. The median age is approximately 36.8 years. In Macedonia, 63.15 in every 100 people use internet. Macedonia has a Human Development Index (HDI) of 0.732.

The majority religion of Macedonia is Christianity, Macedonia is considered to be a developing nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. Click on a link to read more on demographics of Macedonia.

Culture of Macedonia

People in Macedonia speak the Macedonian language. According to data on inbound tourists in Macedonia, 400,000 tourists arrive in the country each year. One of the most popular national dishes of Macedonia is tavče gravče. To read more click on culture of Macedonia.

Geography of Macedonia

Macedonia is considered to be a large nation because of its total area. Its total land area is 25,713 km² (approx. 9,928 mi²). Macedonia is located in Europe. Its capital city is Skopje. Macedonia has 5 neighbouring countries. Its neighbours include Albania, Bulgaria, Greece, Kosovo, and Serbia. Total length of land borders of Macedonia is 838 kilometers (~324 miles).

The highest point of Macedonia is Golem Korab, with its official height being 2764 m (9,069 ft). Including land mass and EEZ, the total area of Macedonia is approximately 25,713 km² (~9,928 mi²). The most notable natural resources found in Macedonia are iron ore, copper, lead, zinc, chromite, manganese, nickel, tungsten, gold, silver, asbestos, gypsum, timber, arable land.To read more click on geography of Macedonia.

Economy of Macedonia

The currency of the country is Macedonian denar. The symbol used for this currency is den, and it is abbreviated as MKD. 22.6% of population in the country are unemployed. The total number of unemployed people in Macedonia is 471,222. Each year, Macedonia exports around $4.27 billion and imports roughly $6.6 billion. The Gini Index of the country is 43.6. Macedonia has a Human Development Index (HDI) of 0.732.The Global Peace Index (GPI) for Macedonia is 1.944. Macedonia has a government debt of 33.6% of the country's Gross Domestic Product (GDP), as assessed in 2012. Macedonia is considered to be a developing nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. Major industries in the country are food processing, beverages, textiles, chemicals, iron, steel, cement, energy, pharmaceuticals, automotive parts.

The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in Macedonia is $27,723 billion. Each year, consumers spend around $7,481 million. The ratio of consumer spending to GDP in Macedonia is 0%, and the ratio of consumer spending to the world consumer market is 0.0216. The corporate tax in Macedonia is set at 10%. Personal income tax ranges from 10% to 10%, depending on your specific situation and income level. VAT in Macedonia is 18%. In 2013, Macedonia received 148.9 million USD in foreign aid.In 2014, the foreign aid amounted to 194.9 USD.To read more click on economy of Macedonia.

Infrastructure of Macedonia

Infrastructure quality in Macedonia is rated to be at 2.5. It indicates a satisfactory quality - roads, railroad, ports and other facilities are able to handle significant traffic at all times and are also suited to various types of transport vehicles and vessels.

In Macedonia, 100% of the population has access to electricity. There are 62,826 internet hosts in Macedonia. Macedonia has 10 airports nationwide.

The logistics performance index of Macedonia is 2.5. It indicates a satisfactory performance - in general, traffic is handeled well, some flaws in certain areas are possible, but overall the logistics system performs reliably and is ready to handle predictable amounts of traffic.

Tracking possibilities for shipments are rated at 2.46. It indicates a mediocre performance - the tracking systems provide some degree of information which usually includes the most necessary topics, such as the current location of a shipment, the dates of arrival and departure and the status of a shipment; still, more detailed information about the status and multi-language accessibility options are usually lacking.

The number of road motor vehicles per 1000 inhabitants in Macedonia is 28. To read more click on infrastructure of Macedonia.

Politics of Macedonia

Macedonia, is a parliamentary republic. With regard to political and civil freedoms, Macedonia is 2. Citizens in Macedonia experience partial freedom. While the majority of citizens are able to exercise their free will to a certain extent in Macedonia, some political engagement may be limited and certain population groups may be excluded from certain freedoms or expressions. The head of the government is Gjorge Ivanov.

According to the World Bank Group, the government effectiveness index of Macedonia is 0.15. This indicates that the government of Macedonia is mediocre. While some public and civil services are limited, in other cases they can be considered adequate or even effective. Potential investors should carefully evaluate the governmental situation in Macedonia before considering any business maneuvers.In Macedonia, the legislative power is vested in a Assembly. The Global Peace Index (GPI) for Macedonia is 1.944. The strength of legal rights index for Macedonia is 6. Overall, it is considered to be rather adequate - bankruptcy and collateral laws are able to protect the rights of borrowers and lenders at least decently; credit information is msotly sufficient and generally available. In 2013, Macedonia received 148.9 million USD in foreign aid. In 2014, the foreign aid amounted to 194.9 USD. Macedonia is a member of the United Nations (UN). On 8 April 1993, it joined the UN as a full member state. Macedonia is a member of the World Bank. To read more click on politics of Macedonia.

Environment of Macedonia

Macedonia emits 4.5 metric tons per capita of CO₂. 10285 km² of Macedonia's territory is covered in forests. and forest land comprises 40% of all the land in the country. The number of road motor vehicles per 1000 inhabitants in Macedonia is 28. To read more click on environment of Macedonia.

Company formation in Macedonia

The development of telecommunications and economic globalization has made it possible for interested investors to form companies around the world. With proper research, financial investments, and legal backing, business ventures can safely be established in Macedonia.

When establishing a company in Macedonia, an interested investor must do due diligence with regard to legal processes, international regulations, and sufficient investment for success. It is critical to understand cultural, social, and political factors of Macedonia that will affect the establishment and growth of one's business. Contact us or click on company formation in Macedonia to read additional information when setting up a business.

Bank account opening in Macedonia

With the right paperwork and initial outlay, it is possible for a foreign citizen to open a bank account in Macedonia. This opportunity for international accounts and investments offers several advantages based on economic regulations and tax structures. Interest rates and fees vary depending on your interests.

When considering opening a bank account in Macedonia, one must enlist the help of international experts to guide them through the process. To find out more about our banking services click on bank account in Macedonia or contact us.