Our recent article covered the basics of how to start a business in Albania as a foreigner and why this country is a smart choice for investors. Building on that, we’re now going to outline the steps on how to register branches or subsidiaries in Albania. Are you wondering if it’s an easy process? In this guide, we’ll break down the procedures in a clear and straightforward way.
So, let’s get into the details of what you need to do to get your business branch or subsidiary up and running in Albania.
Indholdsfortegnelse
Index of Economic Freedom: Albania Ranking in 2024
According to Index of Economic Freedom in 2024, Albania is in 48th place in world ranking and 27th place in Europe. But what does the index of economic freedom stands for?
- The rule of law
- Goverment size
- Regulatory efficiency
- Open markets
Moreover, it also correlates significantly with overall well-being, which includes such factors as health, education, the environment, innovation, societal progress, and democratic governance.
If you want to know more reasons why you should invest in Albania as a foreigner, then read this article for more insights: Top 13 reasons to invest in Albania
It may interest you: 4 Successful Business Ideas for Foreigners in Albania
How to Register Branches or Subsidiaries in Albania: 4 Steps
When setting up a branch or a subsidiary of your main company in Albania, you’ll need to supply extra paperwork. These documents must be the original versions, with an official certification (apostille) to confirm their validity internationally. Later, these documents will have to be translated into Albanian and officially certified in Albania. Keep in mind that the time and expense for this part of the process can differ. Here’s a simplified list of what you will need to provide:
- Get Authorization: If someone other than the company’s legal representative is handling the application, you need a notarized power of attorney from the company.
- Prepare Financial Records: If your company has been operating for over a year, include the last financial year’s balance sheet, prepared according to your home country’s standards.
- Provide Company Status: You’ll need a recent document (no older than 90 days) confirming your company’s registration details and its current status, such as whether it is in liquidation or bankruptcy.
- Confirm Foreign Registration: Show proof that your company is registered in your home country.
Vigtig bemærkning: Make sure all documents are translated into Albanian by a certified translator. Contact us and we will get all done for you.
Need Help in Registering Your Branch in Albania?
Expatax is dedicated to making your move to Albania as smooth as possible, by providing you with all the information you need to expand your business successfully. If you have more questions or need further help, contact us for professional advice.
