What are the steps to register a foreign business? - Albania, with fast procedures and low taxes!
A few days ago, the largest Albania-Turkey investment forum was held in Tirana, and there was no shortage of calls for foreign investors to invest in our country. On the contrary, it was emphasized that Albania is the best potential for investment, as it includes facilities for the implementation of foreign businesses.
But what are the steps that a foreign business must follow to register and develop its activity in our country?
To begin with, depending on the company's objectives, the business can be registered in one of three forms, as a new company with a foreign partner, as a branch of an existing foreign company or as a representative office. On the other hand, the documentation varies according to the chosen form, but in all cases the deed of establishment, the statute, the details of the partners and legal representatives, as well as identification documents are required.
Thanks to the digitalization of processes, registration is carried out through the online portal of the National Business Center, from where the applicant completes the electronic form, uploads scanned documents and signs with an electronic signature.
After completing the registration, electronic accounts are opened in e-Albania and e-Filing, the address of the activity is documented and the business bank account is opened. Depending on the activity, special licenses or permits may be required, and the registration of beneficial owners must be completed.
For foreign investors, there is also a Single Permit, which includes the right to reside and work in Albania. Double taxation avoidance agreements are also in force with many countries around the world.
Beyond the fiscal incentives that are promising for foreign investors, Albania also offers support for innovative start-ups, grants from international donors, and the opportunity to apply as a Strategic Investor, a status that brings considerable benefits.
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