LegalGenius™ provides all the necessary information and services related to the company formation procedure in Albania.
Types of Albanian Entities
Incorporating an Albanian Limited liability company (SH.A.K.). This form of business is very popular among the investors as it requires only a single shareholder and director. It is mandatory for the Albanian SH.A.K to have an Albanian registered office and deposit a minimum share capital of 100,000 LEK divided into nominal shares with a minimum value of 1000 LEK. Like all the companies, it has a management formed by the general meeting of shareholders which will appoint a director to take all the daily decisions and make sure that the principles of the articles of association are respected.
Entities are usually incorporated into Albanian Joint Stock Company (SH.A). Just like the limited liability companies, it can have one shareholder, but its management decisions are taken by a Board of Directors or Managing Directors and a Supervisory Board elected by the general meeting of the shareholders. It is mandatory to keep a registered office and deposit a minimum share capital of 2,000,000 LEK if it’s a closed joint stock company or 1.000.000 LEK if it’s an open joint stock company. The main difference between the two is that only the public joint stock company can subscribe its shares to the Stock Exchange Market.
The foreign entities are advised to open Albanian Branch, Subsidiary or Representative Office which are extensions of the parent companies (branches and subsidiaries) or separate entities (representative offices). The branches and subsidiaries are allowed to perform various activities but only if the parent company is taking full responsibility and if the capital is provided by it while the representative offices can conduct mostly research activities.
Other forms of entities established in Albania. The Albanian entrepreneurs can establish general partnerships where all the members are sharing equal responsibilities and can split the profits among them or can incorporate an Albanian limited partnership, formed by two partners, one limited(must deliver a part of capital and has his/her liability is strictly limited by this).
Company Incorporation Albania
In the beginning of the process of company incorporation in Albania, the investors must check at the National Registration Centre if the chosen name is singular. The research is made by a clerk in the registers’ database. Also the drafting and notarizing the company’s documents of incorporation must be performed and only after that the actual registration can begin.
At the Albanian National Registration Centre the investors can make all the registration related procedures including tax registration, registration for health insurance, social insurance and labour directorate registration. The electronic registry is fully operational so the registration is made with a single application.
The registration at the Municipality Bureau of Internal Revenue is also a step which must be taken and its perform by sending an application and several documents (including the registration certificate)
The last step of company incorporation in Albania consists in obtaining a unique company seal. Only after taking these steps, the company can start the activities.
Economic Overview Albania
Due the historical context, Albania has been avoided for a long time by the foreign investors. However in April 2009, Albania became a NATO member and this fact has left its mark on the national economy, making Albania an attractive country for those who want to start a business in South Eastern Europe. Besides the strategic geographical position, Albania is a rich country in natural resources. The workforce is professionally trained and at low costs. Also great investment in infrastructure were made to ease the business so we can definitely say that Albania is a promising country for investors.
How we can help you
If you are considering forming a business or you need expert help with company registration in Albania, LegalGenius™ is ready to assist you with its skilled team of lawyers, consultants and tax experts. We are committed to making the process as stress-free and streamlined as possible for you, and we will take care of all your document preparation and administrative tasks regarding the registration forms, payment of government fees, local address registration, banking support, etc., whilst always keeping your exact objectives and unique vision in mind throughout the process.
Please use our Company Formation Wizard if you would like to set up your registered company in Albania or if you would like to know the costs involved prior to proceeding with our exceptional services. For other queries and special requests for complex or customised company formation services, please contact us at email@example.com