Starting a business in Albania is now easier than ever. The country has improved the way entrepreneurs can register and manage their businesses online. This guide gives you a straightforward overview of how to set up a business in Albania as a foreigner. We cover everything you need to know, from the initial steps to what comes after you’ve registered, making sure your business setup goes smoothly.
Let’s get started.
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What Kind Of Business Should You Register?
In Albania, you have the option to establish a physical person business, which is particularly suitable for freelancers. In this scenario, you can then explore the various aspects of business structures, including Limited Liability Companies (LLCs or SH.P.K in Albanian) for added protection and flexibility, joint stock companies for shared ownership, and the potential for global expansion through branches of foreign companies or foreign-held 100% owned subsidiaries. When registering your company, you will have an expanded list to choose from.
First Steps for Launching a Business in Albania
To set up a business in Albania, you’ll need to follow these essential steps:
- Complete Online Registration: The entire registration process can be done online and is free of charge.
- Electronic Signature Requirement: The application must be signed electronically by someone who is an Albanian citizen or resident, using their e-Albania profile. If you are not an Albanian citizen, you will need to find a local intermediary—such as an Albanian citizen, employee, or registered taxpayer—to sign on your behalf.
- Articles of Association: Prepare the Articles of Association for your new Albanian business. This important document should outline the business address, legal name, legal seat, capital, business objectives, and the personal details of shareholders and/or administrators.
- Gather Identification Documents: Have scanned copies of identification documents (like passports or ID cards) for all shareholders and/or administrators.
- Provide an Albanian Mailing Address: You’ll need an Albanian mailing address for the purpose of company registration.
- Obtain an Electronic Signature: The person filing the company registration needs to register for an initial registration electronic signature. This is a free and immediate service, which you can obtain via the following link: e-Albania electronic signature service.
Check Company Name Availability
Verify Your Business Name: Before moving forward, you need to make sure the name you’ve picked out for your company isn’t already taken or too similar to another company’s name in Albania. To do this, use the National Business Centre’s name search tool at: Albania Company Name Check. This step is crucial to ensure your business identity is unique and avoids any legal issues or confusion in the future.
Complete Online Business Registration
Register Your Company on e-Albania: Once you’ve verified your business name, the next step is to officially register your company online. You’ll need to submit an application with all the necessary documents, such as the Articles of Association and identification for shareholders and/or administrators, through the personal e-Albania account of the person filing the registration. The typical processing time is 2-3 business days. You can start the application here: e-Albania Business Registration.
After your application is approved, you will need to complete the company registration on e-Albania and request your Certificate of Registration. This usually takes another 24-48 hours. The request can be made through this link: e-Albania Certificate of Registration.
Once these steps are complete, your business will be officially recognized in Albania, allowing you to move forward with your entrepreneurial endeavors.
Essential Post-Registration Procedures
Following your company’s successful registration, there are several key steps to complete:
- Register the Ultimate Beneficial Owner (UBO): You must register the company’s UBO as soon as the administrator has their electronic signature and within 30 days of the company’s formation. The registration usually takes 24-48 hours and can be done here: UBO Registration.
- Enrol in the Fiscal Administration System: It’s important to register your company with the fiscal system within the first two days after company registration.
- Open a Corporate Bank Account: Set up a bank account in the name of your business for financial transactions.
- Apply for the Electronic Fiscal Certificate: This certificate is mandatory for operating your business and costs 4000 LEK annually. The process might take anywhere from 1 to 10 days and can be started here: Electronic Fiscal Certificate.
- Acquire an Electronic Signature for the Administrator: This signature is needed for various administrative tasks and costs 4800 LEK per year. Like the fiscal certificate, obtaining the signature can take 1 to 10 days. Apply here: Administrator’s Electronic Signature.
- Get an Official Company Stamp (Optional): While not mandatory, having a company stamp might be useful for official documents and will cost around 2500-3000 LEK.
- Purchase an Electronic Invoicing Program: Before you start billing and accepting payments, you’ll need a system for issuing electronic invoices. Prices will vary depending on the program features.
By completing these steps, you ensure that your company is fully operational and compliant with Albanian laws.
Need Help in Setting Up Your Business in Albania?
Taking these steps will lay the foundation for a smooth business registration process in Albania. Expatax is here to make your move or investment in Albania simpler. We aim to make the process smooth for you as you explore the opportunities in the Albanian business world. If you have more questions or need further help, contact us for professional advice.
