It seems like only US Based Sites with valid Tax ID and Address are approved in Microsoft PubCenter. So if you meet this requirement then you submit your site and wait for approval just like Google Adsense and become a publisher. If you want to become advertiser then it is not a necessity that you must be from US.
This is the link to them. Good luck and let us know how it goes. https://beta.pubcenter.microsoft.com/
Yes, i think that Y and even Microsoft are only accepting web owners from US for their newly launched Adsense system. Better contact G Adsense as they are the highest paying adv agency.
2 months... WOW! I don't think your going to get approved...Don't know though.. I submitted my information today and the automatic email response I received said that they would review my application within 5-7 business days.
Well I have an account but have never used it so with this new partnership I will try it out and see how how the ctr and payment compares.
Microsoft's "Adsense" or any other competitor to Google for that matter has to increase their profit shares to the publishers if they ever wish to seriously compete with Google in that department..