With COVID-19 restrictions to kick in only after the municipal elections scheduled for October 17, the country is in for a long winter, according to ODI Law Partner Gjorgji Georgievski, despite the business sector doing well.
The New Form of a Company in the Republic of North Macedonia
The Company Law in the Republic of North Macedonia has finally introduced a simplified limited liability company.
“Additional Period” for Ensuring Data Protection Compliance in North Macedonia
Data controllers and data processors had until 24 August 2021 to align with the new Law on Personal Data Protection in North Macedonia (“Law”), which introduced the GDPR in the local legislation at the beginning of 2020. Non-compliance with the new obligations for personal data protection can lead to severe penalties, such as fines of up to 2% and up to 4% of the total annual turnover from the previous financial year, per misdemeanor.
North Macedonia: New Amendments to the Law on Financial Support of Investments
In August 2021, the Law on Financial Support of Investments (“Law”) in North Macedonia has undergone several amendments. Changes are focused on easing the conditions for application, affecting the balanced regional development, and speeding up the procedures for payment of the granted funds.
North Macedonia: Amendments in the Labour Legislation
During the summer, the Assembly in North Macedonia adopted relevant amendments to the Labour Law concerning the conditions for retirement. According to the estimations by the proposers of the amendment, around 6000 employees from the public and the private sector already reached 64 years of age by the end of 2020.
Porobija & Spoljaric and Lalicic & Boskoski Advise on Sale of City Connect to Transcom
Porobija & Spoljaric and Lalicic & Boskoski Law Office have advised the founders of the City Connect Group on their sale of the company to Sweden’s Transcom. LK Shields and Tragardh Law Firm reportedly advised the sellers in Ireland and Sweden, respectively. Bradvica Maric Wahl Cesarec, Clark Hill Law, and Mannheimer Swartling reportedly advised the buyer in Croatia, Ireland, and Sweden, respectively.
Hot Practice: Gjorgji Georgievski on ODI’s Data Protection Practice in North Macedonia
"Data Protection matters have kept us extremely busy this year," Gjorgji Georgievski, ODI Law Partner in North Macedonia and Regional Head of TMT Group, reports, primarily as a result of the looming end of the transition period of the new data protection law in the country.
ICC International Court of Arbitration Appoints Malgorzata Surdek-Janicka as Vice-President
CMS' Malgorzata Surdek-Janicka has been appointed as Vice-President of the International Court of Arbitration at the International Chamber of Commerce in Paris. Aside from Surdek-Janicka, 33 lawyers from CEE were appointed as members and alternate members of the court.
Two Months Left for Data Protection Compliance in North Macedonia
With the enactment of the new Law on Personal Data Protection (“Law”) in 2020, North Macedonia largely harmonized its data protection legislation with the EU General Data Protection Regulation (GDPR).
CMS and White & Case Advise on Financing of Bogoslovec Wind Farm in North Macedonia
CMS has advised Thor Impex – the project company for the Bogoslovec 36 Megawatt wind farm in North Macedonia – on a EUR 51 million financing from a club of banks led by the Erste Bank. White & Case advised the lenders.
Karanovic & Partners and Dentons Advise on Green for Growth Fund's Wind Farm Investment in North Macedonia
Karanovic & Partners and Dentons have advised the Green for Growth Fund on its EUR 3.5 million equity investment in Thor Impex Skopje, partially funding the construction and operation of a 36-megawatt wind farm near Bogoslovec in North Macedonia.
The Buzz in North Macedonia: An Interview with Aleksandar Kchev of Bona Fide Law Firm
While relatively slow on certain fronts, the North Macedonian Government seems focused on economic growth according to Aleksandar Kchev, Partner at Bona Fide Law Firm, with the country's IT industry and renewables sector seeing some notable movement.
North Macedonia: Transport and Infrastructure – Sector of Expansion
The year of 2020 was marked, in North Macedonia as elsewhere, by the COVID-19-induced economic crisis, which will obviously extend well into 2021. Despite the high hopes that the pandemic would be brought under control with mass vaccination programs, the North Macedonian economy’s return to pre-Covid status within the current year is highly unlikely.
North Macedonia: New Law on Sale of State-owned Agricultural Land
The Ministry of Agriculture, Forestry and Water Economy of North Macedonia (“Ministry”) recently pointed out that 577,662 ha are classified as arable land in North Macedonia, while 41% of this land is state-owned. It also noted that the current applicable Law on Sale of State – Owned Agricultural Land (“Law”) has many ambiguities and systemic weaknesses, which prevent its full implementation.
Adriatic Firms Form New Rivet:Net Law Firm Alliance
A new law firm alliance has appeared in the countries of the former Yugoslavia.
Firms From Across SEE Advise on Nomad Foods Acquisition of Fortenova's Frozen Food Business
Akin Gump, Bogdanovic, Dolicki & Partneri, Maric & Co, Isailovic & Partners, Harrisons, Zdolsek Attorneys at Law, Boga & Associates, Popovski & Partners, and Forgo Damjanovic & Partners have advised Croatian conglomerate Fortenova Grupa d.d., on the EUR 615 million sale of its frozen food business to Nomad Foods. Norton Rose Fulbright, Lakatos, Koves & Partners, and five firms from the SEE Legal alliance advised Nomad Foods on the deal, which is expected to close in the third quarter of 2021.
Karanovic & Partners Advises Interenergo and Trigal on Wind Park Construction in North Macedonia
Karanovic & Partners has advised energy company Interenergo and investment firm Trigal on an investment of EUR 40 million for the construction of a 30 MW wind farm in Bogdanci, North Macedonia.
Paksoy Advises Migros on Sale of Ramstore Macedonia
Paksoy has advised Migros Ticaret AS on the sale of 99% of its subsidiary Ramstore Macedonia DOO to City Plaza DOO Skopje, which was reportedly advised by Debarliev, Dameski & Kelesoska. The transaction is expected to close in the second quarter of 2021, subject to customary closing conditions and regulatory approval.