Macedonia liberalizes real estate market - foreign citizens can become owners of building land and residential facilities

According to the new decision of the Government, foreign citizens will be able to become the owners of building land, business and residential facilities in the country, but not the owners of agricultural land. This decision has been made to create various opportunities for, first of all, citizens of countries of European Union and countries members of OECD.

- The principle of reciprocity will be applied for juristic and physical persons fro other countries - said Deputy Prime Minister Zoran Stavreski.

The aim is liberalization of real estate market and attracting of foreign investors to the country. Foreigners did not have opportunity to become owners before if they did not have the company registered in Macedonia.

(Source: Balkan Business News, http://www.seebbn.com/index_en.php?lang=7&id=4195