North Macedonia is presented as a relatively new citizenship-by-investment option that may appeal to people who already hold, or are considering, Caribbean citizenship-by-investment passports and want another layer of mobility. The program is described as potentially faster than Caribbean alternatives, with Schengen access and a less widely recognized citizenship-by-investment profile, but with uncertainty because the program is new and there are not yet many completed cases to compare.
North Macedonia citizenship by investment
The program is described as having two main investment routes.
The first route requires:
- €200,000, described as around $215,000 to $220,000 at the exchange rate mentioned
- investment per adult applicant
- investment held for at least two years
- placement into a private investment fund established in North Macedonia
This is the option presented as the more attractive route because the capital is expected to be returned after the two-year holding period, though the transcript says the money may not earn meaningful interest.
The second route requires:
- €400,000 direct investment
- investment into new facilities
- employment of at least 10 people
- jobs maintained for an indefinite period of time for at least one year
The transcript does not focus on the €400,000 route and questions why an applicant would choose it when the €200,000 fund route exists.
Fees and total cost
Beyond the main investment, applicants should budget for additional costs.
The transcript suggests budgeting around €20,000 to €30,000, or possibly around €35,000, for:
- legal fees
- due diligence
- processing
- passport issuance
- related administrative costs
The key distinction is that the €200,000 is described as an investment expected to be returned after two years, while the additional fees are the non-refundable cost of the process.
Processing time
The program is described as promising a processing time of around two to five months.
However, the transcript notes that there have not been enough applications yet to confirm that this timeline is reliable. This makes the stated timeline uncertain.
The comparison given is with Saint Kitts and Nevis, which reportedly took six and a half months in the speaker’s case and is described as typically taking around six to eight months for Caribbean citizenship-by-investment programs.
If the North Macedonia timeline works as advertised, it would be faster than many Caribbean options.
Documentation requirements
The transcript lists several basic requirements, including:
- certificate of clearance
- CV or résumé
- proof of financial standing
- police clearance
These are described as normal requirements for many countries. Unlike some Caribbean programs, North Macedonia is described as requiring proof of financial standing.
Passport access
North Macedonia is described as a small Balkan country near Albania, Serbia, and other countries in the region.
The passport is presented as potentially interesting because it offers access to several destinations that may be harder to access with some Caribbean citizenship-by-investment passports.
Destinations and access mentioned include:
- Schengen Area
- China
- Japan
- some Latin American countries
- some African countries
- parts of Asia
- Russia, though an invitation is said to be required
- some transit visa options allowing short stays of two or three days, similar to the Ukrainian passport
The transcript specifically contrasts North Macedonia with Saint Kitts and Nevis by saying that Saint Kitts does not provide access to Japan, while North Macedonia does.
Why it may appeal to Caribbean passport holders
The transcript presents North Macedonia as a possible hedge against future restrictions on Caribbean citizenship-by-investment passports.
The concern is that countries such as Saint Kitts and Nevis, Dominica, Grenada, and other Caribbean programs are being criticized by the European Union and could potentially lose Schengen access in the future.
If a Caribbean passport loses Schengen access, the transcript says the holder could still pursue other routes, such as:
- Portugal Golden Visa
- residence permit in Poland
- other European residence programs
- low-cost residence permits
- another passport that still provides Schengen access
North Macedonia is presented as one possible additional passport that could preserve access to Europe if a Caribbean passport becomes more restricted.
Lower visibility than Caribbean CBI passports
A major perceived advantage of North Macedonia is that its citizenship-by-investment program is less well known.
The transcript argues that Saint Kitts and Nevis, Dominica, and Grenada are more widely recognized as citizenship-by-investment passports. Banks, immigration officers, or visa officers may assume the passport was purchased.
With North Macedonia, the transcript suggests that officials may be less likely to immediately assume the passport was acquired through investment. They might instead assume the holder has ancestry, lived there, or obtained citizenship through another route.
This is presented as a potential advantage when applying for visas to countries such as Canada or New Zealand.
EU candidacy and concerns about EU citizenship
North Macedonia is described as an EU candidate country, but the transcript expresses skepticism about whether EU accession will happen.
The transcript also says EU citizenship may not be desirable for everyone. The concern is that future EU-wide tax rules or exit taxation could create complications for people who want mobility without becoming tied to the European Union.
The Portugal Golden Visa is mentioned as another option under consideration, but with similar caution because it could eventually lead to Portuguese and EU citizenship.
Portugal Golden Visa comparison
The Portugal Golden Visa is presented as an alternative way to obtain European residence and potentially later citizenship.
The transcript says Portugal’s program may require only seven to 14 days of presence and can provide permanent residence in the EU and Schengen Area.
A Schengen residence permit may also help with entry to other countries that allow visa-free access to holders of valid Schengen visas or residence permits, including some countries in Latin America or Africa.
The transcript does not make a final choice between North Macedonia and Portugal, but frames both as options for adding European access.
Other future passport options
The transcript also mentions interest in future or alternative programs, including:
- El Salvador, if it creates a Bitcoin citizenship-by-investment program
- another Caribbean citizenship-by-investment program
- other residence programs that may lead to citizenship
The broader strategy is to hold multiple passports from smaller countries that are less likely to tax citizens worldwide or pursue them internationally.
The transcript specifically says the goal is not to obtain citizenship from countries such as Canada if that would create worldwide tax exposure or other long-term obligations.
Main risks and caveats
North Macedonia may be attractive, but the transcript identifies or implies several uncertainties:
- the program is relatively new
- the promised two-to-five-month processing time is not yet well proven
- the country is small
- the investment fund route may not produce meaningful returns
- the safety of the investment is not described as guaranteed
- the country’s EU future is uncertain
- applicants still need to budget substantial fees beyond the investment
- long-term treatment of the passport by other countries is uncertain
Who may consider the program
North Macedonia may appeal to someone who wants:
- a second or third passport beyond a Caribbean citizenship-by-investment passport
- access to Schengen, China, and Japan
- a less widely recognized citizenship-by-investment passport
- a potentially fast two-to-five-month process
- an investment route where the main capital may be returned after two years
- a hedge against Caribbean passports losing Schengen access
It may be less suitable for someone who wants a proven, long-established program with many completed cases, clear long-term track record, or a major global passport.
The central argument is that North Macedonia may be useful as a backup mobility tool, especially for people concerned that Caribbean citizenship-by-investment passports could face more scrutiny or lose visa-free access in the future.
