November 30, 2021

Offshore Banking in Macedonia

Offshore Banking in Macedonia

22 April 2020, updated 30 September 2020

Macedonia (officially the Republic of North Macedonia) is a country in Southeastern Europe (Balkan peninsula) and a European Union candidate since 2004. Despite carrying substantial risks and lacking innovative banking products, Macedonia can be considered as an alternative offshore banking destination for several reasons:

  • Macedonia has neither signed the Automatic Information Exchange Agreement nor indicated a timeline of the start of the automatic information exchange.
  • Macedonian banks offer essential banking services to non-residents, both to natural persons and legal entities.
  • Know-your-customer procedures are simple and straightforward.
  • Macedonia uses IBAN system to identify bank accounts which facilitated international payments.
  • Bank accounts can be opened in Macedonian denars (MKD) and foreign currencies (for example, EUR, USD, GBP or CHF).

However, there are also several drawbacks in offshore banking of Macedonia:

  • Banks in Macedonia do not offer solutions either in private banking or in asset and wealth management.
  • Normally to open an account, Macedonian banks require a branch visit and do not open accounts online.
  • Although there is no IGA between Macedonia and the United States, banking and financial entities operating in Macedonia have reached the agreement with the IRS to participate in FATCA on an individual basis.
  • Deposit guarantee scheme in Macedonia covers only up to 30,000 EUR per bank per depositor which is more than three times less than in the European Union.

Opening Bank Account in Macedonia

10 banks operating in Macedonia (ouf of 14) offer banking services to non-residents, usually to both natural persons and business entities. Banking services, provided to non-residents of Macedonia, are concentrated around traditional banking paradigm and include current (transactional) accounts, debit cards, international and domestic payments, deposit accounts.

Normally to open a non-resident account for a natural person, a bank in Macedonia will require him/her to provide his/her passport or ID card and to fill an application form, containing personal details, address, occupation, income source, as well as US-tax payer information. For a non-resident company a registration document from the domicile country is required; a company account can be opened via the company’s legal representative.

Banks operating in Macedonia usually do not allow online account opening, and it’s necessary to visit a branch of the chosen bank. All Macedonian banks provide remote banking services to access the account.

Name Documents Procedure Remote Access
  Capital Bank AD Skopje Documents passport or ID card

application form Procedure 1. visit bank branch

Remote Access
online banking


  Centralna kooperativna banka AD Skopje Documents passport or ID card

application form Procedure 1. visit bank branch

Remote Access
online banking


  Komercijalna Banka AD Skopje Documents passport

proof of address

application form Procedure 1. visit bank branch

Remote Access
online banking


mobile app


  Ohridska Banka AD Skopje Documents passport or ID card

application form Procedure 1. visit bank branch

Remote Access
online banking


mobile app


  ProCredit Bank AD Skopje Documents passport or ID card

application form Procedure 1. submit online application

2. visit bank branch

Remote Access
online banking


mobile app


  Silk Road Bank AD Skopje Documents passport or ID card

application form Procedure 1. visit bank branch

Remote Access
online banking


mobile app


  Sparkasse Bank Makedonija AD Skopje Documents passport

proof of address

application form Procedure 1. submit online application

2. visit bank branch

Remote Access
online banking


  Stopanska Banka AD Bitola Documents passport or ID card

application form Procedure 1. visit bank branch

Remote Access
online banking


mobile app


  Stopanska Banka AD Skopje Documents passport

proof of address

application form Procedure 1. visit bank branch

Remote Access
online banking


mobile app


  Univerzalna Investiciona Banka AD Skopje Documents passport or ID card

application form Procedure 1. visit bank branch

Remote Access
online banking


mobile app

 

Capital Bank AD Skopje

Customer Rating

 (4.0; 6 ratings)

Country of Origin

 Macedonia

Capital Bank AD Skopje traces its roots back to 1996 when International Private Bank AD Skopje started its operations and became the first bank with foreign capital in Macedonia. In 2007 International Private Bank AD Skopje became a part of Alfa Finance Holding (Bulgaria) and changed its name to Capital Bank AD Skopje. Capital Bank AD Skopje is a universal commercial bank providing retail and business banking products and services.

Capital Bank AD Skopje provides products and services in the areas of retail banking, business banking. Capital Bank AD Skopje offers a range of products including current accounts, time deposit accounts, debit cards, credit cards, consumer loans, mortgage loans.

Offshore Account in Capital Bank AD Skopje

Opening an account in Capital Bank AD Skopje can be done in a few steps:

1. Visit bank branch

Required Documents

passport or ID card

Identity Verification

branch visit

While onboarding a private individual Capital Bank AD Skopje will ask him/her to provide the following documents: passport or ID card. For corporate clients Capital Bank AD Skopje will ask to provide corporate documentation as well as information about controlling persons. Capital Bank AD Skopje may request additional documentation or information depending on the case. Capital Bank AD Skopje performs client’s identity verification via branch visit.

Remote Access

Remote access to the account is possible via online banking.

Account Currencies

MKD

foreign currencies

Card Providers

Maestro


MasterCard

Centralna kooperativna banka AD Skopje

Customer Rating

 (5.0; 2 ratings)

Country of Origin

 Bulgaria

Established in 2008, Central Cooperative Bank AD Skopje is a universal bank whose majority stake is owned by Central Cooperative Bank AD Sofia (Bulgaria). Centralna kooperativna banka AD Skopje offers retail and corporate banking products and services to its customers (private individuals, SMEs and business entities), both residing in Macedonia and abroad.

Centralna kooperativna banka AD Skopje provides products and services in the areas of retail banking, business banking. Centralna kooperativna banka AD Skopje offers a range of products including current accounts, debit cards, credit cards, savings accounts, time deposit accounts, consumer loans, car loans, student loans, mortgage loans, housing loans. Centralna kooperativna banka AD Skopje makes its solutions available to natural persons, SMEs, companies.

Offshore Account in Centralna kooperativna banka AD Skopje

Opening an account in Centralna kooperativna banka AD Skopje can be done in a few steps:

1. Visit bank branch

Required Documents

passport or ID card

Identity Verification

branch visit

While onboarding a private individual Centralna kooperativna banka AD Skopje will ask him/her to provide the following documents: passport or ID card. For corporate clients Centralna kooperativna banka AD Skopje will ask to provide corporate documentation as well as information about controlling persons. Centralna kooperativna banka AD Skopje may request additional documentation or information depending on the case. Centralna kooperativna banka AD Skopje performs client’s identity verification via branch visit.

Remote Access

Remote access to the account is possible via online banking.

Account Currencies

MKD


EUR


USD


CHF


CAD


AUD


SEK


NOK


DKK


GBP

Card Providers

Visa


MasterCard

Komercijalna Banka AD Skopje

Customer Rating

 (3.0; 1 ratings)

Country of Origin

 Macedonia

Komercijalna Banka AD Skopje was established in 1955 as Komunalna Banka was specialized in providing housing loans and financing construction operations. Komercijalna Banka AD Skopje is a universal bank with a wide range of banking activities ranging from deposits and loans approval to legal entities and natural persons, services such as domestic and international payments, and other activities in foreign currency exchange, securities trading and trade finance.

Komercijalna Banka AD Skopje provides products and services in the areas of retail banking, business banking. Komercijalna Banka AD Skopje offers a range of products including current accounts, payment cards, savings accounts, time deposit accounts, children savings accounts, consumer loans, car loans, mortgage loans, student loans, Western Union money transfers. Komercijalna Banka AD Skopje makes its solutions available to natural persons, companies.

Offshore Account in Komercijalna Banka AD Skopje

Opening an account in Komercijalna Banka AD Skopje can be done in a few steps:

1. Visit bank branch

Required Documents

passport


proof of address

Identity Verification

branch visit

While onboarding a private individual Komercijalna Banka AD Skopje will ask him/her to provide the following documents: passport; proof of address. For corporate clients Komercijalna Banka AD Skopje will ask to provide corporate documentation as well as information about controlling persons. Komercijalna Banka AD Skopje may request additional documentation or information depending on the case. Komercijalna Banka AD Skopje performs client’s identity verification via branch visit.

Remote Access

Remote access to the account is possible via online banking, mobile app.

Mobile App (mBanka) Supported Languages

Albanian
English
Macedonian

Account Currencies

MKD

foreign currencies

Card Providers

Maestro


Visa


MasterCard

Ohridska Banka AD Skopje

Customer Rating

 (3.8; 5 ratings)

Country of Origin

 Austria

Being a part of Société Générale Group during 2007-2019, Ohridska Banka AD Skopje joined Sparkass Group (Austria) in November 2019. Ohridska Banka successfully synchronizes the expertise of Sparkasse Group and the experience of its local team in Macedonia. Ohridska Banka AD Skopje operates as a universal bank, providing retail and business banking products and services to its customers (private individuals, SMEs and business entities) both residing in Macedonia and abroad.

Ohridska Banka AD Skopje provides products and services in the areas of retail banking, business banking. Ohridska Banka AD Skopje offers a range of products including current accounts, debit cards, savings accounts, time deposit accounts, consumer loans, car loans, overdraft loans, cash loans, mortgage loans, housing loans.

Offshore Account in Ohridska Banka AD Skopje

Opening an account in Ohridska Banka AD Skopje can be done in a few steps:

1. Visit bank branch

Required Documents

passport or ID card

Identity Verification

branch visit

While onboarding a private individual Ohridska Banka AD Skopje will ask him/her to provide the following documents: passport or ID card. For corporate clients Ohridska Banka AD Skopje will ask to provide corporate documentation as well as information about controlling persons. Ohridska Banka AD Skopje may request additional documentation or information depending on the case. Ohridska Banka AD Skopje performs client’s identity verification via branch visit.

Remote Access

Remote access to the account is possible via online banking, mobile app.

Account Currencies

MKD

foreign currencies

Card Providers

Visa


MasterCard

ProCredit Bank AD Skopje

Customer Rating

 (2.4; 8 ratings)

Country of Origin

 Germany

ProCredit Bank AD Skopje is a member of ProCredit Group, a financial group headquartered in Germany and consisting of 13 banks operating in developing countries of Eastern Europe and Latin America. The group’s business focus is providing lending products to small- and medium-sized companies. ProCredit Group also provides a range of retail banking products to natural persons. ProCredit Bank AD Skopje operates as a subsidiary of ProCredit Bank AG (Germany).

ProCredit Bank AD Skopje is focused on providing lending products to small- and medium-sized companies. ProCredit Bank AD Skopje provides products and services in the areas of retail banking, business banking. ProCredit Bank AD Skopje offers a range of products including current accounts, debit cards, savings accounts, time deposit accounts, company accounts, international payments, credit lines to finance working capital, amortization loans, annuity term loans, bank guarantees.

Offshore Account in ProCredit Bank AD Skopje

Opening an account in ProCredit Bank AD Skopje can be done in a few steps:

1. Submit online application

2. Visit bank branch

Required Documents

passport or ID card

Identity Verification

branch visit

While onboarding a private individual ProCredit Bank AD Skopje will ask him/her to provide the following documents: passport or ID card. For corporate clients ProCredit Bank AD Skopje will ask to provide corporate documentation as well as information about controlling persons. ProCredit Bank AD Skopje may request additional documentation or information depending on the case. ProCredit Bank AD Skopje performs client’s identity verification via branch visit.

Remote Access

Remote access to the account is possible via online banking, mobile app.

Account Currencies

MKD


EUR

Card Providers

MasterCard

Silk Road Bank AD Skopje

Customer Rating

 (3.8; 4 ratings)

Country of Origin

 Macedonia

Established in 1993 as Kreditna Banka AD Skopje, Silk Road Bank AD Skopje was a member of Alpha Bank Group (Greece) during 2000-2016. Since May 2016 Silk Road Bank AD Skopje operates under its current name. Silk Road Bank AD Skopje is a universal bank, providing retail and business banking products and services to its customers (private individuals, SMEs and business entities) both residing in Macedonia and abroad.

Silk Road Bank AD Skopje provides products and services in the areas of retail banking, business banking, securities trading. Silk Road Bank AD Skopje offers a range of products including current accounts, savings accounts, time deposit accounts, debit cards, consumer loans, housing loans, safe deposit boxes, Money Gram money transfers.

Offshore Account in Silk Road Bank AD Skopje

Opening an account in Silk Road Bank AD Skopje can be done in a few steps:

1. Visit bank branch

Required Documents

passport or ID card

Identity Verification

branch visit

While onboarding a private individual Silk Road Bank AD Skopje will ask him/her to provide the following documents: passport or ID card. For corporate clients Silk Road Bank AD Skopje will ask to provide corporate documentation as well as information about controlling persons. Silk Road Bank AD Skopje may request additional documentation or information depending on the case. Silk Road Bank AD Skopje performs client’s identity verification via branch visit.

Remote Access

Remote access to the account is possible via online banking, mobile app.

Mobile App (Silk Road Skopje Mobile) Supported Languages

English

Account Currencies

MKD


EUR


USD


CHF


AUD

Card Providers

Visa


American Express

Sparkasse Bank Makedonija AD Skopje

Customer Rating

 (3.9; 10 ratings)

Country of Origin

 Austria

Sparkasse Bank Makedonija provides a wide range of retail and corporate banking products and services to individuals, small and medium-size enterprises and other business customers. Sparkasse Bank Makedonija also offers its customers (institutional, legal and individuals) trading in foreign assets, financial derivatives, government securities on primary and OTC markets, placing deposits, concluding REPO transactions, as well as other financial services.

Sparkasse Bank Makedonija AD Skopje provides products and services in the areas of retail banking, business banking, securities trading. Sparkasse Bank Makedonija AD Skopje offers a range of products including current accounts, debit cards, credit cards, savings accounts, time deposit accounts, children savings accounts, consumer loans, education loans, car loans, mortgage loans, overdraft loans, Western Union money transfers, safe deposit boxes.

Offshore Account in Sparkasse Bank Makedonija AD Skopje

Opening an account in Sparkasse Bank Makedonija AD Skopje can be done in a few steps:

1. Submit online application

2. Visit bank branch

Required Documents

passport


proof of address

Identity Verification

branch visit

While onboarding a private individual Sparkasse Bank Makedonija AD Skopje will ask him/her to provide the following documents: passport; proof of address. For corporate clients Sparkasse Bank Makedonija AD Skopje will ask to provide corporate documentation as well as information about controlling persons. Sparkasse Bank Makedonija AD Skopje may request additional documentation or information depending on the case. Sparkasse Bank Makedonija AD Skopje performs client’s identity verification via branch visit.

Remote Access

Remote access to the account is possible via online banking.

Account Currencies

MKD

foreign currencies

Card Providers

Visa


MasterCard

Stopanska Banka AD Bitola

Customer Rating

 (1.0; 1 ratings)

Country of Origin

 Macedonia

Stopanska Banka AD Bitola was incorporated in 1948 as Komunalna banka – Bitola as a regional bank for Bitola area. Stopanska Banka AD Bitola operates as a universal bank, providing a wide range of retail and corporate banking products and services to individuals and business customers both residing in Macedonia and abroad.

Stopanska Banka AD Bitola provides products and services in the areas of retail banking, business banking. Stopanska Banka AD Bitola offers a range of products including current accounts, debit cards, credit cards, savings accounts, time deposit accounts, open deposit accounts, recurring deposit account, consumer loans, mortgage loans, safe deposit boxes, Western Union money transfers.

Offshore Account in Stopanska Banka AD Bitola

Opening an account in Stopanska Banka AD Bitola can be done in a few steps:

1. Visit bank branch

Required Documents

passport or ID card

Identity Verification

branch visit

While onboarding a private individual Stopanska Banka AD Bitola will ask him/her to provide the following documents: passport or ID card. For corporate clients Stopanska Banka AD Bitola will ask to provide corporate documentation as well as information about controlling persons. Stopanska Banka AD Bitola may request additional documentation or information depending on the case. Stopanska Banka AD Bitola performs client’s identity verification via branch visit.

Remote Access

Remote access to the account is possible via online banking, mobile app.

Mobile App (BANK2GO) Supported Languages

Albanian
English
Macedonian

Account Currencies

MKD

foreign currencies

Card Providers

Visa


MasterCard

Stopanska Banka AD Skopje

Customer Rating

 (3.6; 17 ratings)

Country of Origin

 Greece

Established in 1944, Stopanska Banka AD Skopje operates as a universal bank, providing a wide range of retail and business banking products and services to individuals and business customers. Stopanska Banka AD Skopje also offers brokerage and securities services.

Stopanska Banka AD Skopje provides products and services in the areas of retail banking, business banking. Stopanska Banka AD Skopje offers a range of products including current accounts, savings accounts, time deposit accounts, debit cards, credit cards, consumer loans, car loans, housing loans.

Offshore Account in Stopanska Banka AD Skopje

Opening an account in Stopanska Banka AD Skopje can be done in a few steps:

1. Visit bank branch

Required Documents

passport


proof of address

Identity Verification

branch visit

While onboarding a private individual Stopanska Banka AD Skopje will ask him/her to provide the following documents: passport; proof of address. For corporate clients Stopanska Banka AD Skopje will ask to provide corporate documentation as well as information about controlling persons. Stopanska Banka AD Skopje may request additional documentation or information depending on the case. Stopanska Banka AD Skopje performs client’s identity verification via branch visit.

Remote Access

Remote access to the account is possible via online banking, mobile app.

Mobile App (m-banking by Stopanska banka) Supported Languages

English
Macedonian

Account Currencies

MKD


EUR


USD


CHF


AUD


CAD


GBP


DKK


JPY


NOK


SEK

Card Providers

Visa


MasterCard

Univerzalna Investiciona Banka AD Skopje

Customer Rating

 (3.0; 21 ratings)

Country of Origin

 Bulgaria

Univerzalna Investiciona Banka AD Skopje (UNIBank) was established in 1993 as Balkanska banka AD Skopje. Univerzalna Investiciona Banka AD Skopje provides a wide range of retail and business banking products and services to individuals and business customers residing in Macedonia and abroad.

Univerzalna Investiciona Banka AD Skopje provides products and services in the areas of retail banking, business banking. Univerzalna Investiciona Banka AD Skopje offers a range of products including current accounts, debit cards, credit cards, time deposit accounts, consumer loans, car loans, mortgage loans, housing loans, overdraft loans, safe deposit boxes. Univerzalna Investiciona Banka AD Skopje offers several money transfer options including MoneyGram.

Offshore Account in Univerzalna Investiciona Banka AD Skopje

Opening an account in Univerzalna Investiciona Banka AD Skopje can be done in a few steps:

1. Visit bank branch

Required Documents

passport or ID card

Identity Verification

branch visit

While onboarding a private individual Univerzalna Investiciona Banka AD Skopje will ask him/her to provide the following documents: passport or ID card. For corporate clients Univerzalna Investiciona Banka AD Skopje will ask to provide corporate documentation as well as information about controlling persons. Univerzalna Investiciona Banka AD Skopje may request additional documentation or information depending on the case. Univerzalna Investiciona Banka AD Skopje performs client’s identity verification via branch visit.

Remote Access

Remote access to the account is possible via online banking, mobile app.

Account Currencies

MKD

foreign currencies

Card Providers

Visa


MasterCard

See Also

  • Offshore Banking in Latvia
  • Offshore Banking in Montenegro
  • Offshore Banking in Cyprus
  • Offshore Banking in Serbia
  • List of Banks in Macedonia
  • Economy and Banking Sector of Macedonia