Amendment and deletion of a Real Estate Investment by Non-Residents in the Republic of North Macedonia, as well as Residents Abroad

 Amendments and deletions of a real estate investment by non-residents in the Republic of North Macedonia, as well as residents abroad are recorded according to Law on Foreign Exchange Operations. Deletion is considered only when the real estate investment who is registered in the registry is psychically destroyed and no longer exists (e.g. during a flood, land erosion, earthquake, etc.). Other amendments, as well as the complete alienation of an already registered investment are considered as amendments and such cases should be reported as amendments.

All residents who have acquired real estate abroad and non-residents who have acquired real estate in the Republic of North Macedonia, are obliged to report real all estate investments. All subsequent modifications to these investments are also subject to such obligation for registration.

Real estate investments mean investing real estate funds through a purchase contract, or acquiring real estate rights through inheritance, gift, and similarly type situations.

 The term real estate is be defined in the Law on Real Estate Cadastre and in the Law on Ownership and Other Real Rights. The data from this Registry are used for statistical purposes and for other purposes that have a legal basis.

In the following cases, the authorized bank may not execute the payment order without confirmation from the Register of Real Estate Investments:

 At the request of the applicant and upon payment of an appropriate fee, the case may be prepared by an expedited procedure which shortens the waiting time interval, i.e. prioritizing the case over other cases.