Skip to main content
Sign in
Create Account
Cart
Toggle navigation
Loading
Home
Hidden
Home
2
Guides
/
Global FinTech Guide
Name
Global FinTech Guide
Country _ Name
North Macedonia
SectionTitle
Identification
Body
FinTechs belonging to this category provide identification services, which are required for most banking services.
Introduction
Attitude of the country towards identification services
FinTech identification services in North Macedonia may be performed only by licensed institutions in accordance with the Macedonian Law on electronic documents, electronic identification, and confidential services. Performing those activities is licensed activity. The Macedonian Ministry of Information Society and Administration (MISA) is the relevant authority
Legal affairs
Obligations and requirements to provide identification services
Based on the secondary level legislation, for a company to be qualified to issue schemes for electronic identification, the following criteria should be met:
adoption of internal rules for the types of information that may be requested, the procedure for proving the identity of entities that have applied for or use means of electronic identification and information about what data can be stored, as well as the period of storage;
publishing basic features of the scheme, which includes all applicable conditions, restrictions on use and fees for its provision, including privacy policy;
establishing of an efficient record management system for the purpose of keeping records and relevant information, considering applicable standards and good practices regarding data protection and retention;
establishing procedures that provide training, qualifications, experience, and skills required to perform the tasks performed by the persons hired by the issuers of electronic identification schemes and their subcontractors;
to obtain personnel (employees/contractors) to perform their activity and for provision of the service according to the established procedures for its provision; and
to take measures for protection from damage caused by environmental events, unauthorised access and other factors that may affect the security of the service of the means and facilities used.
The companies offering identification services are licensed and registered by the MISA. Currently there are no fees payable for registering in the Register.
Additional comments regarding the legal situation for identification services or what FinTech’s must be aware of in this business area
Companies operating in the FinTech industry are subject to consumer protection, privacy and data protection, cybersecurity and anti-money laundering legislation, including the Law on Personal Data Protection, the Law on Consumer Protection and the Law on Prevention of Money Laundering and Financing Terrorism.
Economic conditions
Market size for identification services and biggest companies in this business area
Currently, there are only two (2) companies licensed for issuing schemes for electronic identification. There is no data available for their revenues from these services.
Additional comments regarding the economic situation for identification services or what FinTech’s must be aware of in this business area
N/A.
Loading
BackToCountry
Hidden
Hidden
Back to country
North Macedonia
2
Switch country
Global overview
Authors
Loading
Name
Organisation
Email
Hidden
Hidden
Ljupka Noveska Andonova
Karanovic & Partners in cooperation with local lawyers
[email protected]
0
3684
Veton Qoku
Karanovic & Partners in cooperation with local lawyers
[email protected]
0
3684
Ana Kasirska
Karanovic & Partners in cooperation with local lawyers
[email protected]
0
3684
Close
Choose country
Loading
Country
Hidden
Hidden
Albania
164
2
Argentina
509
2
Australia
179
2
Austria
674
2
Bosnia and Herzegovina
194
2
Canada
149
2
Chile
239
2
China
254
2
Colombia
269
2
Costa Rica
284
2
Croatia
299
2
Czech Republic
809
2
Dominican Republic
830
2
Egypt
314
2
France
719
2
Germany
210
2
Hong Kong
734
2
Hungary
344
2
Ireland
689
2
Italy
329
2
Korea, Republic of
359
2
Malaysia
659
2
Mexico
629
2
Montenegro
374
2
New Zealand
389
2
North Macedonia
434
2
Peru
419
2
Philippines
404
2
Poland
479
2
Portugal
494
2
Romania
794
2
Serbia
464
2
Slovenia
524
2
Spain
539
2
Switzerland
704
2
Thailand
554
2
Turkey
749
2
United Kingdom
779
2
United Rep of Tanzania
764
2
United States
584
2
Uruguay
569
2
{1}
##LOC[OK]##
{1}
##LOC[OK]##
##LOC[Cancel]##
{1}
##LOC[OK]##
##LOC[Cancel]##