North Macedonia’s long-awaited Citizenship by Investment programme will require applicants to donate €200,0000 to a government fund in return for Citizenship and a North Macedonian passport.
On top of the government donation, additional due diligence, application, and processing fees will be required. Like several other CBI programmes, the time frame from submission to approval will take approximately 3-4 months. Main applicants will be able to include their spouse and children up to the age of 18 years old. The programme will also have an annual application quota, allowing just 1,000 applicants to be approved each year.
“Huriya Private welcomes these steps made by the North Macedonian government for making this new Citizenship by Investment programme available and is honoured to be appointed as an official agent,” says CEO and Founder John Hanafin, Huriya Private.
The citizenship program doesn’t have any requirements for language skills or physical residence in North Macedonia.
“Now at the crossroads of modernisation, North Macedonia is becoming an alluring investment destination for foreign capital, especially after the EU gave the green light to start an accession negotiation to the 27-member European bloc in March 2020,” explains Hanafin.
North Macedonia was ranked 17th on the World Banks Ease of Doing Business rating 2020, but it will, presumably, return to top ten positions after reforms are further implemented.
“North Macedonia offers an utterly unique experience through friendly locals and welcoming hospitality, leaving an unforgettable memory of the country’s fresh, tasty food and wine next to a picturesque landscape,” Hanafin adds.
The Economist has recognized North Macedonia as one of the five countries, which improved the most in 2019. Flexible taxation system and reliable banking, infrastructure, along with legislation allowing foreign ownership of property or corporates, create favourable grounds for international business and investments.
A North Macedonian passport gives right to travel visa-free to over 124 destinations worldwide, including but not limited to countries of the Schengen Zone, Russia, Turkey, Hong Kong, Singapore, and Japan. Notably, citizens of North Macedonia are eligible to apply for the E-2 investor visa in the USA, by obtaining five years, renewable, residency visa.
Huriya Private provides consultations to investors who are interested in citizenship programs around the world. As a bespoke multi-family office, Huriya Private operates on the basis of an individual approach for each client and each case, no matter how complex it is.
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