25.07.2008

A new Law on Construction Land was adopted  (Official Gazette of the Republic of Macedonia No. 82/08 from 08.07.2008) in the Macedonian Parliament, by which Foreign companies and  citizens can now directly buy and own construction land in Macedonia.

The Law also entails a possibility for short- and long-term lease, as well as concessions. The regulations on long-term lease include a minimum of 5 years and a maximum of 99 years.

The new Law eliminates the requirement for foreign companies to have to buy or lease land strictly through locally registered companies.

The Law also  lessens the licensing procedures, and harmonizes the regulations with the EU legislation, introduces the principle of transparency in alienating public land.

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