How to Open a Corporate Account and Avoid Difficulties in 2025

When running a business abroad, opening a local bank account is a key step that ensures financial stability and transparency. In this article, we’ll explain the importance of a corporate account, provide an overview of North Macedonia’s banking system, and highlight some banks worth considering for business cooperation.

Why is a local bank account so important?

1. Transparency of operations
   A local bank account makes your company’s financial operations transparent to North Macedonian tax and regulatory authorities, simplifying the reporting process.
2. Easier transactions with partners
   A corporate account helps minimize international transfer fees and speeds up local payments.
3. Business-friendly tools
   Modern banks in North Macedonia offer internet banking, corporate credit lines, multi-currency accounts, and other useful services.
4. Business legalization
   A corporate account is mandatory for companies applying for a temporary residence permit in the country.

Examples of Banks in North Macedonia

NLB Banka (Nova Ljubljanska Banka)
One of the largest banks in North Macedonia offering a wide range of services for corporate clients:

• Account maintenance fee: from €10 to €20/month, depending on the service package
• International transfers: 0.2–0.5% of the transfer amount
• Features: support for multi-currency accounts, convenient online banking, corporate credit line options

Halkbank AD Skopje
A fast-growing bank with a focus on international business:

• Account opening fee: approx. €50
• Maintenance: from €12/month
• Features: favorable terms for companies from CIS countries, low local transfer fees

Stopanska Banka AD Skopje
One of the oldest banks in North Macedonia, offering a full range of business services:

• Account opening fee: €30
• Features: startup support, flexible conditions for small businesses, reliable online banking system

ProCredit Bank
Known for its loyalty to citizens of CIS countries and a wide range of business services:

• Account opening fee: €50–€80
• Account maintenance: €10–€15/month
• Features:
  • Fast-track account opening for CIS citizens
  • Support in English, Russian, and Macedonian
  • Favorable terms for startups and small businesses
  • User-friendly and secure online banking
• Account opening timeframe: 5 to 10 business days (with complete documentation)

Corporate vs. Personal Accounts

1. Purpose

• Corporate account: used for transactions with partners, tax payments, and business operations
• Personal account: for individual use

2. Required documents

• Corporate account: founding documents, company registration, business plan, proof of funds
• Personal account: passport, proof of address and income source

3. Compliance and reporting

• Corporate accounts undergo strict AML and KYC checks

4. Tied to legalization

• A corporate account is mandatory for business immigration purposes

Account Opening Requirements by Citizenship

1. EU Citizens
   Simple procedure with minimal documentation requirements
2. CIS Citizens
   The process includes:

• Proof of funds
• Detailed AML and KYC checks
• Company documents, identification of all beneficiaries and directors

3. Citizens of other countries
   May require personal presence and additional checks

2025 Banking Trends in North Macedonia

1. Stronger AML measures
   Banks continue to implement stricter client verification
2. Digitalization of banking services
   The growth of online platforms makes account opening and management easier
3. Tighter requirements for non-residents
   Additional financial documentation may be required

How to avoid problems when opening a corporate account?

1. Prepare a full set of documents:

• Company incorporation documents
• Identification of all beneficiaries and directors
• Proof of source of funds

2. Work with experts:
   Urban Consult specialists will help you choose the right bank and gather all necessary documents
3. Choose reliable banks:
   Opt for reputable institutions to minimize risks

Conclusion

Having a corporate bank account in North Macedonia is essential for successful business operations. Understanding bank requirements, the differences between account types, and specific conditions for different nationalities will help you avoid complications.
Urban Consult offers full support for corporate account opening and business legalization. With us, you’ll save time and get guaranteed results!