Only limitations prescribed with the Macedonian Law on Trade Companies for founding a company that is, entities who are not eligible to found are company are:

1)  Trade companies whose account with a holder of the payment operation is blocked and the persons who are members of the managing body, the supervisory body, that is are administrators of those companies, until the company’s account is blocked or up until a liquidation or bankruptcy procedure is initiated;

2)   Companies against which a bankruptcy procedure has been initiated, for the period of the procedure;

3)    persons being members of the management body, the supervisory body, that is the administrators of the trade companies to whom in a procedure prescribed, a prohibition performance of performing the profession, activity or duty has been prescribed, until the prohibition is valid;

4)    A person being a member in a limited liability company (DOO) or in limited liability established by one person (DOOEL) whose account is blocked up until the blockage of the company’s account is valid or up until a liquidation or bankruptcy procedure is initiated,

5)   Members/partners, administrators, and members of the management board and the supervisory board of the companies for which, in accordance with Article 552-b of this Law, a procedure for deletion is initiated, during the duration of that procedure and in the period of three years as of the day of publication of the deletion of the company on the website of the Central Register, except the founders, that is, members/partners that are international financial organizations where the Republic of Macedonia is a member and whose participation in the basic capital is under 50%; and

6)     Persons for whom with a legally valid decision of the court it is determined that have committed a crime act, false bankruptcy, causing bankruptcy by unscrupulous operation, malpractice of the bankruptcy procedure, damaging or creditors preference, and have been prohibited from performing a profession, activity or duty, until the legal consequences of the prohibition are valid.

Natural person can at the same time be a partner with unlimited liability only in one company. General partnership, limited partnership or limited partnership with stocks cannot be a partner with unlimited liability in another company of that type.

If you need any further information and advice regarding the published, please feel free to contact us here.

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