New Decree Setting Aside the Latest Restrictive Measures on Corporate Law in North Macedonia

Polenak Law Firm’s partner Tatjana Shishkovska provides insight on the latest corporate law changes in North Macedonia, commenting that: “It seems that we are back in business as usual, at least as far as Corporate law is concerned.”

In less than 10 days, the Government imposed several restrictive measures, first restricting shareholders’ rights to convene and hold the annual shareholders meetings and then restricting the dividend payment to foreign shareholders for the duration of the state of emergency. On Friday, 4th April 2020 these measures were set aside with the new Decree that terminates the validity of the decrees related to the Law on Trade Companies. For the time being, the companies are allowed to proceed with the shareholders meetings, profit distribution and dividend payment.

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Polenak Law Firm’s partner Tatjana Shishkovska provides insight on the latest corporate law changes in North Macedonia, commenting that: “It seems that we are back in business as usual, at least as far as Corporate law is concerned.”

In less than 10 days, the Government imposed several restrictive measures, first restricting shareholders’ rights to convene and hold the annual shareholders meetings and then restricting the dividend payment to foreign shareholders for the duration of the state of emergency. On Friday, 4th April 2020 these measures were set aside with the new Decree that terminates the validity of the decrees related to the Law on Trade Companies. For the time being, the companies are allowed to proceed with the shareholders meetings, profit distribution and dividend payment.