Farmers, artisans and small businesses, towards the European market - Draft law on business partnerships between Albania and the EU
Farmers, artisans, small businesses and Albanian enterprises will be able to pool their capital and activity with partners from European Union countries, through a new form of organization.
The Draft Law on European Cooperative Societies creates, for the first time in Albania, the legal framework for the establishment and functioning of these cross-border entities. Such a society can be established by natural or legal persons from at least two different countries, one of which must be Albania and the other a member state of the European Union.
The minimum capital for its establishment is set at 30 thousand euros. Unlike traditional companies, the main goal of these societies is not only to maximize profit, but to meet the economic and social needs of the members.
According to the report, the sectors with the greatest potential are agriculture, crafts, services and financial activities. In the scenario envisaged by the government, around 100 European cooperative societies could be created within five to ten years, which could potentially generate up to 50 million euros of additional activity in the economy.
In an illustrative calculation, if each of them were to create an average of ten jobs, the impact could reach about a thousand new jobs.
The implementation of the draft law is estimated to cost around 450 thousand euros. Of this amount, 250 thousand euros are costs for the public sector, mainly for updating the National Business Center systems and training the administration. Around 200 thousand euros are estimated as establishment and adaptation costs for businesses.
The registration and administration of new companies will be carried out by the National Business Centre, which should adapt the electronic systems and prepare them for future interconnection with European business registers. The draft law is part of Albania's obligations under Chapter 6 of the negotiations, which deals with company law. The law will apply until the country's accession to the European Union, when European rules will become directly applicable.
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