Published
Sep 4, 2023
Updates:
Sep 16, 2024
Albania
Price:
Delivery:
Legal forms:
Payment methods:
3 months
Inc., LLC., Ltd., PLC.
Document checklist:
1.Passport
2.Proof of Residence
3.Memorandum (Provided by B2B Hub)
4.Articles of association (Provided by B2B Hub)
Requirements:
Local legal address (Handled by B2B Hub)
Albania
$
3600
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Registrar
Abbreviation
Phone
The Albanian Investment Development Agency
AIDA
+355 (0)42 251 001
Location
Capital
Official languages
Population
Currency
ISO 4217
Tirana
Albania
Albanian
2,832,439
ALL
Lek
Delivery
-
Certificate of incorporation
-
Articles of association
-
Meeting minutes
-
Company stamp
Certificate of incorporation
Company stamp (By stempil.com)
Registration documents and guidance
FAQ for company formation in Albania
Q: What types of companies can be formed in Albania?
A: Companies in Albania can take the form of a limited liability company (LLC), joint stock company (JSC), general partnership, or limited partnership.
Q: What are the requirements to form a company in Albania?
A: To form a company in Albania, you must have at least two shareholders and a minimum share capital of 100,000 ALL (Albanian Lek). You will also need to register your company with the National Business Center (NBC).
Q: How long does it take to register a company in Albania?
A: The registration process can take up to 10 business days, depending on the completeness of the required documentation.
Q: What are the documents required to register a company in Albania?
A: The specific documents required depend on the type of company being formed, but generally include articles of association, a memorandum of association, and a business license.
Q: Can foreigners own a company in Albania?
A: Yes, foreigners can own a company in Albania, but they must comply with certain regulations and obtain the necessary permits and approvals from the government.
Q: What are the tax implications of forming a company in Albania?
A: Companies in Albania are subject to corporate income tax, which is currently set at a flat rate of 15%. There are also social security contributions and other taxes that must be paid.
Q: What are the ongoing compliance requirements for a company in Albania?
A: The specific compliance requirements depend on the type of company, but generally include filing annual financial statements and tax returns with the government.
Q: Can I use my Albanian company to do business outside of Albania?
A: Yes, you can use your Albanian company to conduct business anywhere in the world, as long as you comply with the relevant laws and regulations in those jurisdictions. However, you may need to obtain additional licenses and permits to operate in certain countries.
Albania has seen a steady improvement in its economy over the past few years. According to the World Bank, the country's GDP grew by 3.2% in 2019, and is projected to grow by 3.3% in 2020. The unemployment rate has also decreased from 16.2% in 2017 to 14.2% in 2019. Inflation has been relatively low, with an average rate of 1.9% in 2019.
The country has also seen an increase in foreign direct investment (FDI). In 2019, FDI inflows reached $1.2 billion, a significant increase from the $845 million in 2018. This has been driven by increased investment in the energy, tourism, and manufacturing sectors.
Overall, Albania's economy has seen positive growth in recent years, and is expected to continue to improve in the coming years.
In Albania, both corporate and personal taxation exist. Here is a brief overview of the tax system in Albania:
Corporate taxation:
- Corporate income tax in Albania is a flat rate of 15% on net profits.
- Companies are required to file their tax returns and pay the tax due by March 31st of the following year.
- Companies must also make advance payments of their estimated tax liability on a monthly basis.
Personal taxation:
- Personal income tax in Albania has a progressive rate ranging from 0% to 23% depending on the level of income.
- Taxable income includes salaries, wages, profits from business activities, and other sources of income.
- The tax year in Albania runs from January 1st to December 31st.
- Individuals must file their tax returns and pay any tax due by April 30th of the following year.
Other taxes:
- In addition to corporate and personal income tax, Albania also levies a 20% value-added tax (VAT) on most goods and services.
- Property tax is also imposed in Albania, with rates ranging from 0.1% to 0.3% of the property's value.
It is important to note that the tax system in Albania is subject to change, and companies and individuals should seek professional advice on their specific tax obligations and requirements. Additionally, there are penalties for late payments, so it is important to adhere to the payment schedule.
Application without registration
The first director
The second director
The third director
The first shareholder
The second shareholder
The third shareholder
Articles
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