Legal Market Overview
In January 2019, the Macedonian Parliament voted to rename the country North Macedonia. The name change ended a longstanding dispute with Greece, which had blocked the former Macedonia’s EU and NATO membership ambitions; at the time of writing, North Macedonia is awaiting both ratification of its NATO accession and commencement of membership talks with the EU.
Although forthcoming parliamentary elections may bring some general unrest, economic growth, supported by strong industrial production and export growth, for 2020 is forecast at approximately 3.3%. An increase in foreign direct investment levels is also expected.
Domestic law firms with established full-service practices include Debarliev, Dameski & Kelesoska Attorneys at Law, Polenak Law Firm and Papazoski and Mishev Law Firm, while a number of foreign legal practices also regularly advise on Macedonian work. Examples include Serbia-headquartered South East Europe firm Karanovic & Partners in cooperation with local lawyers, global law firm CMS, which opened in Macedonia at the end of 2018, and Moravcevic Vojnovic and Partners in cooperation with Schoenherr‘s ‘professional and timely‘ Belgrade-based lawyers, who advise on Macedonia-related corporate law, banking and finance, infrastructure, competition, IP and energy matters.