North Macedonia may not be the most popular country in Europe — only getting around 1,000,000 tourists per year compared to the UK’s 40,000,000 annual tourists — but it makes up for this lack of tourism by being an attractive retirement destination.
In this article, I’m going to walk you through the cost of living, tax situation, safety, and process towards becoming a citizen — as well as the benefits that your new passport would come with. Let’s get right into it!
Table of Contents
Cost of Living in Macedonia
Life in Macedonia is very affordable since the cost of living is magnitudes lower than other European countries. In fact, you can find a one-bedroom apartment for as low as $160 per month.
If you want to get a three-bedroom apartment in the city center of capital Skopje then you’ll be paying around $480 per month — which is still incredibly cheap compared to the rest of Europe. Public transportation is also affordable and accessible.
The public bus service is constantly improving with its comfortable seats and air-conditioned interiors. You can also use intercity rails to get from Skopje, the capital, to other cities in the country or neighboring nations like Serbia, Kosovo, and Greece.
If you want to get more insight into the cost of living in Macedonia versus other European nations like Malta then have a look at the video below:
Taxes in Macedonia
Taxes are quite reasonable in Macedonia with a 10% income tax rate on your first one million Macedonian denars (around $19,000). Any income above that threshold will be taxed at an increased rate of 18%.
Residents are taxed on their worldwide income while non-residents are only taxed on their Macedonia-sourced income. As an added benefit, the selling of securities or shares that you’ve held for longer than 10 years is exempted from capital gains tax.
How to Become a Permanent Resident in Macedonia
If you have proof of income and a clean criminal record then it shouldn’t be too hard to get a personal work permit in Macedonia. You can do this by either starting a business or working as a self-employed individual.
The base validity of the permit is one year but those with a higher net worth and suitable business plan could get residency permits valid for three years or even unlimited validity permits.
After holding a temporary residency permit for a total of five years, you’ll be able to apply for a permanent residency (as long as you’ve spent more than half of each year inside the country during your stay).
Those who have lived in Macedonia for eight years will be eligible to apply for citizenship by naturalization. To be granted citizenship, you’ll need to be fluent in the Macedonian language and hold knowledge of nation’s history/culture.
Macedonia Passport Visa-Free Countries
Macedonian citizens are able to travel to 78 countries visa-free:
The Macedonian passport isn’t as powerful as some of the other European passports like Germany and France. That said, it will still give you access to the entirety of Europe (except the UK).
You’ll also get access to certain nations in Latin America and tourist destinations in Asia like Malaysia, Singapore, and Japan. That said, those who want to visit North America, Africa, or Oceania should be prepared to go through the visa process (or find another citizenship).
Safety in Macedonia
The US Department of State gives Macedonia a level 1 classification, only asking travelers to exercise normal precautions when visiting the country. There are no areas marked as an increased-risk region.
The Global Peace Index ranks Macedonia as the 36th safest country in the world, ahead of Lithuania and behind Latvia:
Though crime isn’t a huge issue in Macedonia, you will need to be alert for natural disasters. Earthquakes, landslides, and flash floods in Macedonia are not uncommon. In fact, a 2016 flood killed over 20 people.
Conclusion
As you can see, Macedonia is an often-overlooked destination that actually makes for a decent retirement nation. Overall, the sub-$200 monthly rent prices, 10% income tax rate, and proximity to the Schengen Zone come together to form a pretty compelling combination.