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laws Archives - TJLAW

Tax incentivizes for the investors in Technological Industrial Development Zones and in accordance with the Law on the Financial Support of Investments

Investment Opportunities in North Macedonia and How Our Law Firm Can Assist

In 2007, the Republic of North Macedonia, a developing country, enacted the Law on Technological Industrial Development Zones (TIDZ) to encourage investments in these zones, fostering economic growth and development. Subsequently, in 2018, the government introduced the Law on the Financial Support of Investments. Both laws aim to stimulate economic growth and employment while enhancing the competitiveness of North Macedonia’s economy.

I. Investment Incentives

The government offers compelling incentives to foreign and domestic investors, including:

In terms of tax incentives, taxpayers using the zones benefit from exemptions and relief from payment of:

  1. Profit tax for ten years from the commencement of activity in the zone, but no longer than two years after the year of obtaining the work initiation decision.
  2. Profit tax for ten years from the date of receiving:
  3. Personal income tax on employees’ salaries for ten years from the commencement of activity in the zone, regardless of the number of employees, as per conditions established by the law.

These incentives have resulted in over 17,000 jobs created by foreign investors in the TIDZ. Moreover, these investors have engaged local companies in their supply chains, facilitating knowledge transfer within their respective industries.

Moreover the TIDZ and the Government are ready to invest in tailor made solutions for each investor, based on his preference and investment capacity.

II. The Law on the Financial Support of Investments

In 2018, the Macedonian Government introduced the Law on the Financial Support of Investments to attract both foreign and domestic investors. The main incentives under this law include:

III. How Our Law Firm Can Assist

Our law firm has been dedicated to assisting foreign investors in securing financial support from the government. We offer guidance in negotiating investment agreements, both within and outside the TIDZ, along with support in project financing and navigating the process of establishing companies in North Macedonia. Our services encompass legal aspects, construction, licensing, employment, structural setup, bylaws, GDPR, and compliance with domestic legislation.

For further information on the benefits and the investment pathway in North Macedonia, please contact our Managing Partner, Ivica Jevtic.

Investment

Ivica Jevtic – Managing partner at Tosic & Jevtic law firm

Announcement!

The page of https://tosicjevtic-law.com/ will redirect you to www.jpm.law as the firm operate under the brand JPM & Partners from October 30, 2024. This change signifies a rebranding effort, allowing the firm to continue providing legal services under a new identity while maintaining its existing clientele and services.

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