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flag FYROM FYROM: Operating a Business

In this page: Setting Up a Company | The Active Population in Figures | Working Conditions | Cost of Labor | Social Partners

 

Setting Up a Company

General Partnership
Number of partners: Minimum of 2 partners.
Capital (max/min): No minimum required.
Shareholders and liability: Unlimited
Limited Partnership
Number of partners: Minimum of 2 partners.
Capital (max/min): No minimum required.
Shareholders and liability: At least one of the partners.
Limited Liability Company (D.O.O.)
Number of partners: Less than 50
Capital (max/min): 5,000 Euros
Shareholders and liability: No liability
Joint-Stock Company
Number of partners: Minimum of 1 and up to 50.
Capital (max/min): 25,000 Euros for companies incorporated simultaneously
and 50,000 Euros for companies incorporated successively.
Shareholders and liability: Liability limited to the amount of  the partner's investment in the company.
The Competent Organization
Enterprises are registered at the Central Registry from the Ministry of Economy.
 
Setting Up a Company FYROM Eastern Europe & Central Asia
Procedures (number) 2.0 6.0
Time (days) 2.0 14.0

Source: Doing Business.

 
Business Setup Procedures
Consult Doing Business Website, to know about procedures to start a Business in FYROM.
Trade register, in Slavomacedonian.

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The Active Population in Figures

20122013
Labor force 940,600960,700

Source: CIA - The world factbook

 
200920102011
Total activity rate -54.00%55.80%
Men activity rate 65.20%68.90%68.90%
Women activity rate 42.90%42.70%42.90%

Source: UN - United Nations

 

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Working Conditions

Legal Weekly Duration
Working hours amount to 40 hours per working week. Consult  Labor Relations Law.
Retirement Age
63 years old for men

 

60 years old for women

There is a minimum of 20 years worked to qualify for retirement.  Consult the Retirement Law.

Working Contracts
Contracts of  permanent employment are of an unlimited period of  time.  There are temporary contracts, limited to  a maximum of nine consecutive months, used for seasonal employment, increment of activities or replacements.
Labor Laws
Consult Doing Business Website, to obtain a summary of the labor regulations that apply to local entreprises.

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Cost of Labor

Minimum Wage
No minimum wage exists.
Average Wage
The average monthly gross earnings in FYROM is MKD 24,770 (EUR 400).
Social contributions
Social Security Contributions Paid By Employers: Sickness, Maternity: 9.2%

Retirement, Disability: 21.2%

Unemployment: 1.6%

Consult the Retirement and Disability Funds (in Slavomacedonian)
Social Security Contributions Paid By Employees: Insurance is obligatory: 0.5%

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Social Partners

Social Dialogue and Involvement of Social Partners
In the public sector, union power is very important, salaries have been raised after negotiations with labor unions or after strikes of employees.

 

However, in the private sector, unions are almost nonexistent.

Unions
Trade Union of the workers in Chemical, Metal and Non- Metal Industry
European Trade Union Cooperation
Unionization Rate
45% of the workforce is organized.
Labor Regulation Bodies
Employment  Service Agency
Ministry of Labor and Social Affairs

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Last Updates: October 2014