The "Mountain Package" brings back the immigrants of the 90s - Now on the verge of retirement they can invest in Albania
The Albanian government has announced the adoption of a new policy, which basically aims to encourage immigrants to invest in the lands of their ancestors. The Mountains Package aims to bring incentives and fiscal relief to those who decide to return to their homeland.
But can this package serve those who left Albania in the 90s?
After the fall of the communist regime, Albania faced a mass exodus, mainly of young people. The two main countries where these immigrants were concentrated were Italy and Greece. Practically, when 3 decades have passed, the young people of the 90s are the ones approaching retirement age. History has shown that the first generation of immigrants of a country has the tendency to return to their homeland after achieving their objectives, such as educating their children or ensuring a certain well-being. And in this case, quite a few Albanian immigrants are on the verge of retirement and this stimulus package can make them return to their homeland with a revitalization project of their property, where subsidies and incentives from the state can be they also add the part of the savings they receive upon returning from the country where they emigrated.
Meanwhile, Albania is considered a fiscal haven for Italian retirees, who in recent years have shown a tendency to move to Albania.
The same thing is expected to happen with the Albanian pensioners of Italy, who thanks to the agreement on the recognition of pensions with Italy, can choose to receive an Italian pension and at the same time live in Albania where the cost of living and the fiscal regime are lower .
In Albania, there are currently around (Graph.1) 720 thousand pensioners, while on the other hand, the agreement with Italy is expected to benefit about 500 thousand of them who work in the neighboring country.
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