Zdravo! If you are a business owner in North Macedonia looking to expand your operations to the USA, it is important to understand the compliance, legal, and beneficial ownership reporting requirements that come with operating in a foreign country. As you navigate through the complexities of international business, it is crucial to stay informed and up-to-date on the regulations and laws that govern your business activities.

From Skopje to New York, the rules and regulations may vary, but one thing remains constant – the need for transparency and accountability in your business practices. By familiarizing yourself with the compliance and reporting requirements in both North Macedonia and the USA, you can ensure that your business operates smoothly and ethically across borders. Stay tuned for valuable insights and tips on how to navigate the legal landscape of international business and ensure that your business thrives in both countries.

Registration Requirements

The United States consists of 50 states and 5 territories, each with its own set of business regulations. To operate legally, businesses must adhere to both state-specific rules and federal laws.

State-Level Registration:

When establishing a business presence in the United States, businesses from North Macedonia must complete state-level registration in any state where significant business activities occur. This requirement typically applies if your company:

• Has a physical presence in the state
• Frequently meets with clients in the state
• Derives a significant portion of revenue from the state
• Has employees working in the state

Incorporating your Macedonian Company in the US

Even if none of the specific criteria apply, a Macedonian company must still choose a home state for registration when conducting business in the US. This involves forming a U.S. entity, such as a corporation, LLC, or other business structure, in that state. This registration ensures that the company is officially recognized and compliant with US regulations, regardless of its level of business activity in any individual state.

The newly formed U.S. entity will operate as a subsidiary of the foreign company. This means that while the U.S. entity is legally independent, it remains under the ownership and control of the parent company based in North Macedonia. This structure allows the company to conduct business in the US while maintaining its international headquarters.

We recommend using Northwest Registered Agent if your foreign company needs to incorporate. They offer expert guidance and can serve as a reliable registered agent for your business, ensuring compliance and smooth operations.

Federal Requirements

In addition to state requirements, Macedonian companies must also comply with federal regulations:

• Federal Tax ID: Obtain an Employer Identification Number (EIN) from the IRS. This number is essential for tax reporting and opening U.S. bank accounts.
• Industry Regulations: Companies may need to follow specific federal regulations depending on the industry. For example:
• Import/Export Laws: If the company is involved in importing or exporting goods, it must meet U.S. customs regulations. This includes adhering to rules for tariffs, duties, and necessary documentation.

Beneficial Ownership Information Reporting Requirements

For Macedonian businesses conducting operations in the U.S., adhering to Beneficial Ownership Information Reporting (BOIR) requirements is crucial. The Corporate Transparency Act mandates that companies disclose the individuals who own or control them. This applies to most entities, including those that are incorporated or registered in any U.S. state. The goal is to enhance transparency and combat illicit activities such as money laundering and terrorism financing.

A beneficial owner is an individual who controls the company or owns 25% or more of its shares, either directly or indirectly. For compliance with BOIR requirements, businesses must report information about these individuals, including their names, addresses, and identification details. Failure to file this report can result in significant penalties and legal consequences. Therefore, companies from North Macedonia need to ensure they meet these reporting obligations promptly and accurately.

For your convenience, you can file your Beneficial Ownership Information Report directly on our website. Click here to complete the process in just a few minutes and ensure your business complies with U.S. regulations.

Additional Considerations for Macedonian Businesses:

Tax Treaties

As a business operating from North Macedonia, it’s crucial to be aware that there is currently no tax treaty between your country and the United States. This absence of a treaty means that income earned in the US may be subject to taxation by both countries, potentially leading to double taxation. Without the protections and benefits typically provided by a tax treaty, your business may face higher overall tax burdens and increased complexity in managing cross-border transactions. It’s advisable to consult with tax professionals familiar with both North Macedonian and US tax laws to navigate this situation and explore potential strategies for minimizing tax liabilities.

Trade Considerations

When conducting business with the USA, companies from North Macedonia should be aware that there is no specific bilateral trade agreement between the two countries. However, North Macedonia benefits from the Generalized System of Preferences (GSP) program, which provides duty-free entry for certain products exported to the USA. It’s crucial for businesses to research industry-specific regulations and standards that may apply to their particular products or services. This includes understanding US customs procedures, product safety requirements, labeling regulations, and any sector-specific certifications or approvals needed for market entry. Additionally, North Macedonian businesses should familiarize themselves with US import duties, taxes, and any potential trade barriers or restrictions that may affect their specific industry. Consulting with trade experts or legal professionals specializing in international trade can help ensure compliance with all relevant US regulations and maximize opportunities in the American market.

Your Path to Compliance: Key Takeaways for Macedonian Businesses in the U.S.

Operating a Macedonian business within the USA requires careful attention to legal obligations, from establishing your home state to incorporating and filing a beneficial ownership report. Meeting these requirements is essential for ensuring compliance and securing your business’s success in the American market. By understanding and adhering to these steps, you can confidently navigate the complexities of doing business in the U.S. and focus on growing your enterprise.

Ready to get started? Click here to file your BOIR in just a few short minutes. We make the process easy, fast, and secure so you can focus on what matters—your business.