Understand the Advantages to Set Up Your Business in Macedonia
Macedonia is not just another country in the Balkan Peninsula that has alluring scenery. The landlocked country also promises a rosy prospect for small and medium business ventures. Here are some attributes as to why set up business in Macedonia is a brilliant move for entrepreneurs.
Reformed Economy – Good Time to Set Up Business in Macedonia
The government of Macedonia put in place policies to ensure Macedonia’s economy can be reformed, albeit it was a slow and steady one. In recent times, the country ranked as a fourth-best reformatory state out of 178 countries. Macedonia also enjoys macroeconomic stability, reflected in its high quality of life and political stability. The business-oriented government has also developed Macedonia to be an open economy while actively attracting foreign investment. Macedonia welcomes entrepreneurs interested in small and business enterprises as more businesses can be set up, thus leading to more available jobs for the locals.
Lowest Total Tax Rate
Most business owners are concern about tax abroad when they are planning to expand or set up business in another country. Macedonia has among the lowest taxes in Europe. Currently, the tax rate for corporate income stands at 10% with reinvested profits taxed at zero per cent. Macedonia also introduces tax exemptions for international business investors and reduced number of taxes. All these tax reductions are to encourage investment in Macedonia, help boost business development and increase the overall standard of living. To further interest investors, Macedonia accepts electronic payment of taxes. An electronic payment may be an everyday thing from where you are. But Macedonia wants to be sure that you have the most pleasant and blissful experience when conducting business in Macedonia.
Location is Key
Macedonia is strategically located for business expansion. It is an EU candidate country, which makes trading with other EU members a breeze. Entrepreneurs planning to set up business in Macedonia will have the opportunity to access up to 650 million customers, all within the European continent. All these are due to the free trade agreements Macedonia has signed with most of the countries in Europe. This is an opportunity that an entrepreneur should highly consider to expand or set up a new business in Macedonia.
For a small country like Macedonia, it is equipped with two international airports and two Pan European corridors. Its infrastructures are in excellent state, ready for businesses of all kinds to set up shop in Macedonia. As with the development of technology, Macedonia continues to improve its telecommunications infrastructures, including pursuing international trends for fast Internet access. The roads and railway infrastructure in Macedonia provide access to every nook and corner of the country in less than three hours.
Macedonians are a well-educated bunch. The education system in the country makes education compulsory. Besides academics, Macedonia’s workforce is also skilful, thanks to vocational schools that offer various trade skills. The country’s population of the able and competent workforce make up 45% of the entire community. What this means is that, when an entrepreneur sets up a company in Macedonia, most hires are of skilled labour.