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Company formation in Albania
Comprehensive assistance in company formation, including banking services
How to form a company in Albania
1
Document submission
You submit to us necessary documents of the future founders and directors for the purposes of company formation in Albania
and opening a bank account in Albania
and opening a bank account in Albania
2
Payment of services
Payment of our services for company formation in Albania
and/or bank account assistance in Albania
and/or bank account assistance in Albania
3
Company formation
We register a new company in Albania for you. Upon completion of the registraion corporate documents are either delivered to you or submitted to a bank for the subsequent opening of a bank account
4
Bank account opening
In case you request an assistance with a bank account, we arrange an interview at the bank for you, inform you about the date of the visit and accompany you on your way to the bank. After the bank account is opened and active you receive corporate documents of the formed company as well as the access to the bank account
Key aspects to consider prior to incorporating a company in Albania
Corporate income tax is 0% if annual turnover does not exceed ALL 14 million.
1. Founders that would like to register a company in Albania can either be resident or non-resident in Albania. Founders can be either individuals or legal entities.
2. A resident or a non-resident individual can be a company director in Albania. It is not required to register a company in Albania with a resident individual as one of its shareholders or directors.
3. One individual can register a company in Albania and simultaneously be a shareholder and a director in this company if such company is registered as a Sh.p.k. (a limited liability company).
4. There is no requirement for creating substance in Albania - no need to hire local employees or rent an office in order to establish a company in Albania or to conduct business in Albania.
5. Minimum share capital that is required to register a company in Albania as a Sh.p.k. (a limited liability company) is just ALL 100.
6. Information about company founders, shareholders and directors after company registration in Albania is complete is publicly available in the state corporate register.
7. We can help you register a company in Albania remotely, on the basis of a power of attorney. It is necessary for the director of the new company to travel to Tirana for 1 day in order to open a corporate bank account.
2. A resident or a non-resident individual can be a company director in Albania. It is not required to register a company in Albania with a resident individual as one of its shareholders or directors.
3. One individual can register a company in Albania and simultaneously be a shareholder and a director in this company if such company is registered as a Sh.p.k. (a limited liability company).
4. There is no requirement for creating substance in Albania - no need to hire local employees or rent an office in order to establish a company in Albania or to conduct business in Albania.
5. Minimum share capital that is required to register a company in Albania as a Sh.p.k. (a limited liability company) is just ALL 100.
6. Information about company founders, shareholders and directors after company registration in Albania is complete is publicly available in the state corporate register.
7. We can help you register a company in Albania remotely, on the basis of a power of attorney. It is necessary for the director of the new company to travel to Tirana for 1 day in order to open a corporate bank account.
Cost of services
Formation of a Sh.p.k.
Timeframe - 12 business days
Timeframe - 12 business days
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for company formation
Advantages of incorporating a company in Albania
Attractive business-environment
- Access to major EU markets
- Access to the Adriatic Sea and to the Ionian Sea allows to establish a maritime trade with EU states, Turkey, Middle Eastern and North African states
- Highly qualified workforce
- Low inflation rate
Stability and security
- Political stability
- Secure legal and justice systems
- Comprehensive protection of property rights
- Comprehensive personal security
- Investment protection
Tax benefits
- Corporate income tax is 0% if annual turnover does not exceed ALL 14 million
- Corporate income tax rate is 5% for software production and development companies, automotive industry companies and agricultural cooperatives and agrotourism businesses
- Multiple double tax treaties
No strict foreign exchange controls
- Albanian state regulations do not impose foreign exchange controls. Individuals and business entities, either resident or non-resident in Albania can open bank accounts in local banks in any currency
Ease of establishing and doing business
- Minimum share capital that is required to register a company in Albania as a Sh.p.k. (a limited liability company) is just ALL 100
- 100% foreign ownership of a company is available
- Remote company formation in Albania is available
More about Albania
The Republic of Albania is located in Southeastern Europe and has a territory of 28,748 square kilometers. Croatia borders Greece, Kosovo, Montenegro and North Macedonia. Albania has access to the Adriatic and Ionian Sea. The capital city of Albania is Tirana, the largest city and the location of key government institutions.
Albania has a population of 2,8 million people.
Albania has a population of 2,8 million people.
Official currency of Albania is Albanian lek (ALL).
Albania has a free market economy. The country economy is based on natural resources, agriculture, food processing, lumber, oil, cement, chemicals, mining, basic metals, hydro power, tourism, textile industry, and petroleum extraction. The strongest sectors are energy, mining, metallurgy, agriculture, and tourism. Primary industrial exports are clothing, chrome. Albania's economy is based on the service (54.1%), agriculture (21.7%), and industrial (24.2%) sectors.
The GDP of Albania grew by 8.5% in 2021 and amounted to USD 18.26 billion. Tertiary sector makes up almost 54.1% of the GDP of the country, followed by industry sector at 24.2%, agriculture at 21.7%.
In terms of foreign trade the largest exports of the country are iron, cement, clothing, footwear, plants, vegetables, cartons, boxes.
Imports of Albania consist of energy, petroleum oils, natural gas, cars and vehicles, leather, wheat, meslin, sufrace active agents, electric equipment, consumer goods.
Primary trading partners of Albania are Italy, Serbia, Spain, Germany, Greece, North Macedonia, France, Montenegro, China, Czech Republic, Turkey, Poland and Switzerland.
Albania has a free market economy. The country economy is based on natural resources, agriculture, food processing, lumber, oil, cement, chemicals, mining, basic metals, hydro power, tourism, textile industry, and petroleum extraction. The strongest sectors are energy, mining, metallurgy, agriculture, and tourism. Primary industrial exports are clothing, chrome. Albania's economy is based on the service (54.1%), agriculture (21.7%), and industrial (24.2%) sectors.
The GDP of Albania grew by 8.5% in 2021 and amounted to USD 18.26 billion. Tertiary sector makes up almost 54.1% of the GDP of the country, followed by industry sector at 24.2%, agriculture at 21.7%.
In terms of foreign trade the largest exports of the country are iron, cement, clothing, footwear, plants, vegetables, cartons, boxes.
Imports of Albania consist of energy, petroleum oils, natural gas, cars and vehicles, leather, wheat, meslin, sufrace active agents, electric equipment, consumer goods.
Primary trading partners of Albania are Italy, Serbia, Spain, Germany, Greece, North Macedonia, France, Montenegro, China, Czech Republic, Turkey, Poland and Switzerland.
International business expands to Albania and incorporates a company in Albania primarily for:
Restricted for foreign entrepreneurs are the following sectors:
- agriculture
- tourism
- wholesale and retail trade
- manufacturing
- energy
- ICT-BPO
- transport
- TEDA.
Restricted for foreign entrepreneurs are the following sectors:
- national security
- television
- telecommunications, radio
- air transport
- postal services.
- Corporate income tax - 15%. Corporate income tax rate of 5% applies to software production and development companies, automotive industry companies and agricultural cooperatives and agrotourism businesses. Corporate income tax of 0% applies to companies whose annual turnover does not exceed ALL 14 million. Tax returns are filed on an annual basis. Advance income tax payments are made on a monthly basis
- Dividend withholding tax - 8%
- Interest withholding tax - 15%
- Royalties withholding tax - 15%
- Capital gains tax - 15%
- VAT - Standard tax rate 20% or reduced rates from 0% up to 6% or tax exempt. Tax returns are filed on a monthly basis
- Personal income tax - from 20% up to 30%.
Apart from such traditional business entity types as a limited liability company (Shoqëritë me përgjegjësi të kufizuara - Sh.p.k.) and a public limited company (Shoqëritë aksionare - Sh.a.) corporate law in Albania offers to incorporate a company in Albania as:
1. General partnership (Ortakëri e përgjithshme - O.P.)
2. Limited partnership (Ortakëri e Kufizuar - O.K.)
3. Branch office (Dega)
To receive a detailed description of the company formation procedure in Albania and information about documents necessary for company formation in Albania please contact our experts.
1. General partnership (Ortakëri e përgjithshme - O.P.)
2. Limited partnership (Ortakëri e Kufizuar - O.K.)
3. Branch office (Dega)
To receive a detailed description of the company formation procedure in Albania and information about documents necessary for company formation in Albania please contact our experts.
Send a request for company formation in Albania
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Phone: +44 20 8157 4037
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128 City Road,
London, EC1V 2NX
Phone: +44 20 8157 4037
Email: request@pil-services.com
