Temporary Residence — Investment

Investment-based residence is the route used by foreigners who place capital into a Macedonian business and intend to steer that business from inside the country. The permit is not a gold-card visa in the Maltese or Portuguese sense — North Macedonia does not sell residence for a fixed contribution — but it recognises that an investor who founded a company, took a substantial equity stake, or was appointed to lead the business has a legitimate and continuing reason to live here.

In practice it is used by founders of small and medium enterprises, by shareholders of joint ventures, by executive directors of foreign-owned subsidiaries, and by individual entrepreneurs setting up a regulated professional activity.

The first element is a validly incorporated Macedonian legal entity. In most cases this is a limited liability company (ДООЕЛ for a single founder, ДОО for multiple founders) or a joint-stock company (АД). Incorporation is done at the Central Registry of North Macedonia, usually through a one-stop procedure that collects the founding act, capital evidence, the registered office, and the directors' signatures.

The founding capital for a ДООЕЛ is nominal (EUR 5,000, of which a portion may be paid in kind), but МВР looks beyond the statutory minimum at whether the company actually operates — rented or owned premises, active bank account, paid social contributions for any employees, and real commercial turnover within the first year. Shell structures with no operations rarely survive renewal.

The applicant's status inside that company needs to be documented. If the foreigner is the founder or a shareholder, the registry extract (тековна состојба) shows the equity stake and the role. If the foreigner is an executive director or manager hired into the company, the employment relationship is layered on top — a board decision or shareholders' resolution appointing the director, a management contract, and where applicable the АВРМ opinion required for foreign employment.

For genuine investor-founders, the АВРМ labour-market test is usually not required because the Law on Employment and Work of Foreigners exempts owners and self-employed professionals from the standard labour-market check; for hired directors who are not shareholders, the test normally applies.

The documentary package for МВР is similar to other residence categories, with the company layer added. The foreigner provides a notarised copy of the passport, a recent criminal record and non-prosecution certificate from the country of origin or residence (apostilled and translated), proof of accommodation in North Macedonia, valid health insurance, and the бела картичка confirming address registration within 48 hours of entry.

The company provides the current registry extract, the articles of association, the act appointing the director, and where relevant evidence of capital paid in, bank turnover, and VAT registration. МВР assesses the file as a whole: the combination of a genuine investor, a real company, and a credible plan of continued economic activity. Expect МВР to query the file if the company has no office lease, no local employees, and no bank movement.

Once submitted, processing is typically 30 to 60 days. If the foreigner is from a visa-required country, МВР's positive decision triggers the issuance of a Long-Stay Visa (Type D) at the consulate abroad within three working days; the foreigner enters within 30 days, registers their address within 48 hours, and appears at МВР within five days for biometrics and to collect the one-year residence card.

Visa-free nationals can file in country directly. The card is renewable annually on proof that the company is still active and the foreigner still holds the founding equity or management role. Renewal is usually the point at which shell structures are filtered out: МВР can ask for the current annual financial statements, a payroll list, and evidence of tax and social-security compliance.

Investment-based residence is a sensible path for foreigners with real entrepreneurial intent in North Macedonia but a poor fit for passive investors who do not plan to live or manage the business. For them, ownership of the company is possible without residence; the shareholders can operate from abroad, and residence is only needed when the day-to-day role requires physical presence.

For those who do live here and build the business, the five-year path to permanent residence opens up as under any other temporary category. Throughout that period, the usual discipline applies — keep the company in good administrative order, renew the permit at least 30 days before expiry, and treat each renewal as a fresh application.