In March 2021, the details of the “Macedonian Citizenship by Investment” program will be published. A year and a half ago, the government of North Macedonia effectively took the first of those steps by issuing a decision “defining the criteria for special scientific, economic, cultural, sports, or other national interest to acquire citizenship” in the country. It laid out the tangible financial requirements the government would consider “special economic interest”. Such as investing capital in the amount of at least 200,000 euros per person, for a period of at least two years, in a private investment fund, which meets the following conditions:
- the investment fund has a minimum of 5,000,000 euros of initial capital before submission of the investment program to the Fund for Innovation and Technological Development;
- the investment fund invests in supporting the economy, innovation or innovative activities, but does not invest in real estate of any kind except in business premises for the needs of the private investment fund or the Innovation Fund and technological development and in infrastructure development projects;
- the investment fund should not have more than 500 foreigners as investors who have submitted applications for the acquisition of citizenship of the Republic of Northern Macedonia on the grounds of this ordinance.
North Macedonia is the latest country to invite international talent and investors to the nation through a new citizenship-by-investment program. And what are the benefits for investor? A citizen of North Macedonia can travel without a visa to 124 countries of the world, including the Schengen zone, Japan, Russia. Macedonian citizens can receive a non-immigrant business visa E-2 in the United States. And you can also, if desired, permanently or temporarily reside in the territory of Macedonia, without living requirements.
Macedonia, like Montenegro, is in line to join the EU. However, Macedonia has just begun to go to this union, unlike Montenegro (will join the EU by 2025). On February 6, 2019, a protocol was signed on the entry of North Macedonia into NATO. On May 7, 2019, the Pope blessed North Macedonia to join the EU. The Council of the European Union approved the start of negotiations on the accession of Albania and North Macedonia on March 24, 2020. Already, Macedonia is a party to the agreement on CEAST, the Central European Free Trade Association. This is a free trade organization, the successor to the Visegrad Agreement between non-member countries of the European Union.
At the moment, the program “Macedonian Citizenship by Investment” is only about to launch. Follow the news on the apexcapital.partners
Sources: IMIDaily
