Company registration in Albania

While Albania may not be among the highly developed European countries, analysts highlight its impressive economic growth rates and promising prospects. Despite the limited volume of foreign investment, the state actively welcomes and supports such endeavours.

ADVANTAGES OF COMPANY REGISTRATION IN ALBANIA

Among the advantages of opening a company in this jurisdiction are:

Favourable geographical location, providing easy access to European markets.
Relative ease of conducting business.
Quick and simple process of registering a legal entity.
Loyal tax system.
Access to highly qualified yet inexpensive labour.

The local economy is based on the export of natural resources and food products, supported by sectors like agriculture, industry, and tourism. Notably, the IT sector has seen rapid development lately, and the real estate market is experiencing growth.

FEATURES OF ALBANIA LEGISLATION

The functioning of legal entities in Albania is governed by the Law on Commercial Companies. Moreover, a relatively recent addition to the legal framework is the “On Foreign Investments” law, which experts note for its considerable liberality. Both of these laws ensure comprehensive protection for foreign investments in alignment with international legal standards.

TYPES OF BUSINESS ORGANISATION AVAILABLE IN ALBANIA

Foreign businessmen can register a company in the Commercial Register of Albania in one of the following organisational and legal forms:

Shpk — Limited liability company. The most common option, requiring at least one founder for opening. Management is conducted by a director or board of directors. The minimum authorised capital is 100,000 lek (about 800 euros).
Sha — Company with joint share capital. Requires at least one shareholder for opening, the management is carried out by a board of directors. The minimum authorised capital for closed companies is 2,000,000 lek (about 16,000 euros) and for open companies — 10,000,000 lek (about 80,000 euros).
Branch of a foreign company. Any operating foreign company can open a branch. This requires the parent company’s charter documents, a decision of the Board of Directors on the branch establishment, confirmation of the payment of initial financing, and other necessary documents.

REGISTRATION FEATURES IN ALBANIA

Albania imposes no residency requirements for founders and directors. The documents required for registering a new company must be translated into Albanian and certified by a local notary. Typically, the process of registering a new legal entity takes no more than 5 days. Subsequently, the company is assigned a fiscal code and VAT payer number.

Navigating the evolving landscape of Albania’s tax system can be challenging. To avoid unnecessary complexities, we recommend reaching out to COREDO specialists — we offer comprehensive assistance in registering legal entities in Albania and provide guidance on any issues of concern to you.

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