Consulting AL

Based on Law 111/2018 “On Cadaster” the ownership rights and other real rights on land and buildings should be registered with the related cadastral register. These registers contains all the data of the real estate.Foreigners can freely lease real estate property, in accordance with the relevant provisions of the Civil Code and sectorial legislation. The Albanian Civil Code provides for no minimum period requirement for rental or lease agreement (s) but the maximum period is 30 years unless otherwise provided by specific laws. Meanwhile, the Lease Agreement for properties that will be used for accommodation purposes cannot exceed the maximum term of 5 years.

An entrepreneur  may decide to stop doing business for  a number of different reasons. Albania’s Civil Code governs business transfers and offers the legal basis for common forms of business transfer:

• Acquisition;
• Sale;
• Gift;
• Inheritance.

OPEN A COMPANY IN ALBANIA

The types of legal entities which may be opened in Albania are: the limited liability companies (Sh.p.k), the general partnerships (O.P), the limited partnerships (O.K) and the joint stock company (SH.a).Our team of lawyers in Albania can offer full assistance for the registration on any of the business forms mentioned above.

Besides the above mentioned business structures, foreign investors may also enter the Albanian market through other legal entities that can better accommodate the needs of a business, depending on the invested capital and the investment plans. Foreign investors are also allowed to set up the following business forms:

• sole trader – it represents the simplest way to start a business in Albania, as there are no capital requirements;
• branch office – a structure which is dependent on its parent company and it can be set up by both local and foreign companies that wish to expand on the local market;
• subsidiary – it represents an entity similar with the branch office, with the difference that the subsidiary will act as an independent structure.

The Albanian legislation related to foreign citizens is in compliance with the EU directives as related to immigration policy.The Law on Foreigners provides that foreigners may work in Albania only after obtaining a work permit. Nevertheless, the Law stipulates a list of countries citizens of which enjoy equal rights with Albanian citizens as regards employment and self-employment, such as:

1. citizens of the USA, the EU and the Schengen area countries;
2. citizens of one of the countries of the Western Balkans, Bosnia and Herzegovina, Montenegro, Kosovo, Serbia and Northern Macedonia;
3. foreigner citizens employed in various sectors, with the aim of regulating the consequences and recovery from natural disasters.

Foreigners are divided into two categories – those who must secure a visa when crossing the borders of the Republic of Albania and those who are exempt from that requirement. Foreigners who wish to reside in Albania on a long-term basis (in any case more than three months within each six-month period) shall be issued a residence permit.