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1 THE CENTRAL REGISTER OF REPUBLIC OF MACEDONIA The one-stop-shop system (OSS) for registration of companies and other legal entities in the Central register.

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Presentation on theme: "1 THE CENTRAL REGISTER OF REPUBLIC OF MACEDONIA The one-stop-shop system (OSS) for registration of companies and other legal entities in the Central register."— Presentation transcript:

1 1 THE CENTRAL REGISTER OF REPUBLIC OF MACEDONIA The one-stop-shop system (OSS) for registration of companies and other legal entities in the Central register of Republic of Macedonia is established on according to the law one-stop-shop for trade and other legal entities

2 2 BENEFITS FROM THE FIRST PHASE OF THE ONE-STOP-SHOP SYSTEM: Establishing a unique trade register in the country Establishing an Unique identification number for all legal entities in Macedonia (UINS) Easy access to financial and credit information Simplification and reduction of the registration procedure for all institutions involved in the registration (Central register, Public revenue office, Customs, Statistics office and the commercial banks through Clearing house) Transferring the registration procedure from the court to administrative Decreasing administrative barriers on Macedonian entrance

3 3 COMPANY REGISTRATION COMPANY REGISTRATION The time required to register any legal entity is reduced to only 4 hours in 2008, as opposed to five days since establishing the OSS in 2006 There is possibility for On line name search and reservation. Time to complete – few minutes

4 4 Procedures for company registration: Procedure 1: Notarize the company deeds and other documents Time to complete: 1 hour Procedure 2: Registration with the Central Registry Time to complete: 4 hours

5 5 ONE-STOP-SHOP 2 COMPONENTS: Component 1 e-Filing of registrations to the Registry of trade companies and other legal entities Exchange of information about employees with the Employment Agency, Health Fund and Pension Fund Component 2 Registry of Disqualified Entities, based on court sanctions and blocked bank accounts e-Solution for management of bankruptcy procedures by the bankruptcy managers e-Solution for voluntary liquidation of companies Component 3 E-Filing of registrations to the Register of Pledge E-Filing of registrations to the Register of Leasing

6 ONE-STOP-SHOP PHASE 2 BENEFITS: For the foreign investors: Complete on-line registration, administration and closing of businesses without the need of physical presence or engagement of intermediaries in Macedonia. Filling and receiving of business information translated in English as a common international language. Faster asset recovery rates from more transparent and proceedings for bankruptcies and liquidations. 6

7 7 ONE-STOP-SHOP PHASE 2 BENEFITS: For the Macedonian public: Faster procedure for establishing of pledges and leasing as collaterals for obtaining credit facilities; Saving of time and costs by replacement of notaries verifications with personal digital signatures. Protecting the business community by banning the entities which are prohibited from performing business activities.

8 8 ONE-STOP-SHOP PHASE 2 BENEFITS: For the public sector: Timely and accurate information about the registered legal entities Avoiding redundancy in data storage and processing, by receiving from the Central Register only what is domain specific for each institution Setting grounds for implementation of national data exchange standard for business information between the institutions by utilizing common XBRL

9 ONE-STOP-SHOP PHASE 2 BENEFITS: For the judiciary: Easier management of court proceedings related to businesses due to the e-management of bankruptcies, liquidations and disqualified entities More accurate reports on the bankruptcy and liquidation status of companies 9

10 ONE-STOP-SHOP PHASE 2 BENEFITS: For the Government of Macedonia: Increase the closing of business score in the next World Bank Doing Business report due to introduction of the integrated e-registries for management of bankruptcies and liquidation proceedings, which will make those procedures radically more transparent and faster Setting Macedonia on a fast track for the possibility of doing online business More centralized and accurate data for macroeconomic planning 10

11 11 : Anti crisis measures – recommendations from the Macedonian Government : According to the recommendations from the Government of R. Macedonia, the Central register created several products with reduced prices, offered through the Internet distribution system for the business environment : Short statements from the annual accounts Short statements from the annual accounts and ownership information from the pledge register Short statements from the annual accounts, ownership information from the pledge register and user information from the leasing register

12 12 Trade register – number of registered subjects and number of new registered subjects by years: Total registered companies Year - by Number of registered subjects New registered companies Year - by Number of NEW registered subjects

13 13 REPORT - DOING BUSINESS * According to the latest Doing Business report Macedonia holds the 2 nd place for business start-up in Europe, and 6 th place in the World. Doing business indicators Indicator Ease of doing business (Main indicator) Business start-up

14 THANK YOU You are welcome to MACEDONIA THE CENTRAL REGISTER OF REPULIC OF MACEDONIA 14


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