North Macedonia is becoming increasingly popular among investors due to its strategic position in the Balkans, stable economy, and favorable business environment. The government actively encourages foreign capital by offering programs that not only open new horizons for business but also provide opportunities for obtaining citizenship. Let’s take a closer look at the key investment areas and the opportunities they offer.
1. Investments in the Tourism Sector: A Path to Citizenship
Tourism is one of the key sectors of North Macedonia’s economy, and the government is committed to its development. In recent years, the country has seen a steady increase in tourist numbers, with over a million visitors annually.
Why invest in tourism?
- Rising tourist numbers: By 2030, the number of tourists is expected to double, creating high demand for hotels, restaurants, and tourism services.
- Diverse opportunities: Investment options range from building hotels and resorts to organizing tours and infrastructure projects.
- Stable income: Tourism provides a consistent revenue stream due to year-round travel demand.
Citizenship by investment program:
Investors in the tourism sector are eligible for fast-track citizenship. Conditions include:
- Minimum investment amount — from €250,000
- Participation in accredited government programs
- Possibility of obtaining citizenship within 12–24 months
Recommended investment areas:
- Lake Ohrid: A UNESCO World Heritage site and one of the most popular tourist destinations in the country.
- Skopje: Expansion of the hospitality and restaurant infrastructure in the capital city.
- Mountain resorts: Investments in ski resorts and eco-tourism projects.
2. Investments in Real Estate: Stability and Profitability
Real estate is one of the most attractive investment areas due to low property prices and strong growth potential. North Macedonia offers excellent opportunities for both residential and commercial property investments.
Advantages of investing in real estate:
- Affordable prices: Cost per square meter is significantly lower than in other European countries. For example, in Skopje, prices start at €1,200/m², compared to €2,000 or more in neighboring countries.
- High rental yields: Average rental income is 6–8% per year. Tourist areas like Ohrid offer even higher profitability.
- Simple purchase process: Property acquisition is straightforward and accessible for foreign nationals.
Investment options:
- Residential complexes: Purchase and rental of apartments or villas for tourists and expats.
- Commercial properties: Offices, retail spaces, hotels.
- Land plots: Investments in land for developing promising projects.
3. Investment Attractiveness of the Region: What Does North Macedonia Offer to Foreign Entrepreneurs?
North Macedonia holds a strategic location at the crossroads of Europe and Asia, making it an important hub for logistics and business. In addition, the government offers numerous incentives and benefits for investors.
Key advantages:
- Low taxes: One of the lowest corporate tax rates in Europe — only 10%. Dividend tax is also 10%.
- Business incentives: Investors may qualify for tax holidays depending on the investment size and sector.
- Access to EU markets: Through signed agreements, companies registered in North Macedonia receive trade advantages with the EU and other Balkan countries.
- Stability: Political stability and low levels of corruption make the country a secure place to do business.
High-potential sectors:
- IT and innovation: A rapidly growing sector supported by startup initiatives and tech investment.
- Agriculture: Export of products such as wine, apples, peaches, and young cabbage is increasing annually.
- Manufacturing: Incentives available for foreign companies that create jobs.
Conclusion
North Macedonia is a land of opportunity for ambitious investors. It offers a combination of business-friendly conditions, low taxes, and fast-track citizenship programs. Whether you're interested in the tourism industry, real estate, or tech startups, North Macedonia opens doors to new horizons.
Urban Consult will support you at every step — from selecting an investment project to obtaining citizenship.
