North Macedonia is set to launch its long-awaited Citizenship by Investment (CBI) program in 2024. As per the government, the program will require applicants to donate €200,000 to a government fund in return for citizenship and a North Macedonian passport. The program will also require additional due diligence, application, and processing fees. The time frame from submission to approval is expected to take approximately 3-4 months.
The CBI program will allow main applicants to include their spouse and children up to the age of 18 years old. However, the program will have an annual application quota, allowing just 1,000 applicants to be approved each year.
It is important to note that while North Macedonia is located within Europe, next door to Greece and Bulgaria, it is not yet a member of the European Union. The nation signed an accession agreement with the EU back in March 2020 and is now in the stages of negotiations with the EU. If North Macedonia’s EU application is successful, then this program will be a great opportunity for those looking to become a citizen of an EU country, but do not require such benefit immediately.
The CBI program is a more cost-effective option than Citizenship by Investment programs from existing EU countries such as Bulgaria and Malta which require investment upwards of €1 million. The program is expected to attract foreign investors who are interested in obtaining a North Macedonian passport and citizenship.
North Macedonia’s Citizenship by Investment program is set to launch in 2024. The program will require applicants to donate €200,000 to a government fund in return for citizenship and a North Macedonian passport. The program will also require additional due diligence, application, and processing fees.
The time frame from submission to approval is expected to take approximately 3-4 months. The program will allow main applicants to include their spouse and children up to the age of 18 years old. The program will have an annual application quota, allowing just 1,000 applicants to be approved each year. While North Macedonia is not yet a member of the European Union, the program provides a more cost-effective option than Citizenship by Investment programs from existing EU countries such as Bulgaria and Malta which require investment upwards of €1 million.
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