Denar Payment Operations

Opening Accounts for Legal Entities

On the basis of a written request (Bank’s form) accompanied by the appropriate documentation, the bank opens accounts for legal entities in the Republic of Macedonia who want to perform payment operations into the country.

The required documents for opening a bank account in MKD for residents are the following:  

  1. Decision on entry into the trade registry, i.e. into the registry of the competent authority, in printed or electronic format, and verified by a qualified certificate prescribed by law, or an Act prepared by a relevant authority, or a law excerpt, or a Decision to initiate bankruptcy proceedings.
  2. Verified signature of the persons authorized for representation (ZP form) - original or a notary verified copy;
  3. Specimen of signatures of the persons who will dispose of the funds on the bank account (Bank’s form);
  4. Questionnaire on the Manner of Delivering Orders to The Bank and Receiving Mail from the Bank (Bank’s form);
  5. Opening and Account Keeping Agreement (Bank’s form). 

 

Foreign legal entities (non-residents) shall open a Denar bank account on the basis of the following documents:

  1. Written request for opening a non-resident bank account;
  2. Submitted original or verified copy of the document for registration from the domicile;
  3. Translation of the registration by an authorized court translator, verified by a notary public;
  4. Signature verified by notary public of the authorized person quoted in the registration of the company;
  5. Authorization of bank account representative (if they exist), verified by notary public;
  6. Copy of the passport of the legal representative and the authorized person who will use the bank account;
  7. Opening And Account Keeping Agreement (Bank’s form);
  8. Signature Deposition Card (Bank’s form).

Interest on Available Funds

The interest on the available funds on the bank account amounts to 0.05 % annually. The interest is calculated and paid on monthly basis.