COMPANY FORMATION IN ALBANIA
Advice Albania company formation offers all the necessary actions in order to incorporate a company or partnership in Albania it also provides all the necessary details for incorporating a branch, a subsidiary or a representative office, with complete support offered by our legal experts.
A registered office is also necessary for setting up a company in Albania. It is also required to have a bank account and a local accountant before incorporating a company in Albania.
Foreign investors are also allowed to set up the following business forms:
a. Sole Entrepreneur
b. Unlimited Partnerships
c. Limited Partnerships
d. Limited Liability Companies
e. Joint stock companies
f. Joint ventures
Minimum initial capital of only ALL 100 (approximately USD 0.99 or EUR 0.72).
For Joint stok companies, minimum initial capital required is All 3.5million for privately held companies with no public offering and All 10 million. At least one fourth of nominal amount of the shares for contributions in cash must be paid up before registration.
Limited Liability Companies (“LLC”) are the most commonly chosen and appropriate legal form for conducting business in Albania. In principle, its shareholders are not responsible for the company’s obligations, and they are personally liable for losses only to the extent of their unpaid capital contribution.
Branches and Representative Offices
Under the Commercial Law, a foreign investor can also operate in Albania through a branch or representative office of a foreign company. The branch or representative office should be registered at the NBC-QKB and should have a legal representative appointed by the head offices of the foreign company to administrate the office. For tax purposes, in general, the branch is treated in the same manner as an Albanian entity.
In case the company does not have its own office and secretary in Albania we provide nominal office, correspondence services and secretarial services. As well we offer attractive accounting and tax representation package of services in Albania, delivered by the Financial department .
National Business Center (QKB-CNB) www.qkb.gov.al
Starting and running a business in Albania became easier through consolidation of practices for similar applications, reduction of time and costs due to digitalization of some main services provided for business through the platform e-albania and e-tax Shqiperi, etc.
Albanian Company Registration – it offers many opportunities for cost saving
By an Albanian company registration you can take advantage of the favorable tax system. The country boasts one of the lowest corporate tax rates in EU. The simplicity of the tax system makes calculations very easy further decreasing your administrative costs. All that combined with lower labor costs mounts up to significant cost savings. So the Company Formation in Albania may be the right solution for your business in European Union.
Tax legislation in Albania is managed by the General Tax Department and is subject of frequent improvements and amendments due to the EU integration process and modernization
of the Albanian public administration. More detailed information on tax legislation in Albania can be found in the web page of the General Tax Department: www.tatime.gov.al.
The Fiscal Package of 2020 brought significant changes in the tax policies, mainly in tax procedures, followed by VAT,Income Tax and finally are the changes to National Taxes.
To Open Company in Albania is not difficult. On the other hand, as result of the conservative character of the Albanian Incorporation Law, the ownership of the shareholders is highly protected.