Overview of Albania

Albania is a country located in the Balkans, and its official name is the Republic of Albania. Its neighbors include Montenegro to the north, Kosovo to the northeast, North Macedonia to the east, and Greece to the south. Additionally, it has a coastline along the Adriatic Sea to the west and the Ionian Sea to the southwest. The distance to Italy, across the Otranto Strait between the Ionian and Adriatic Seas, is only about 72 kilometers (45 miles).

Capital and Largest City: The capital and largest city of Albania is Tirana, located in the central part of the country.

Population: 3,000,000

Official Language: Albanian

Geography: Albania is situated on the Balkan Peninsula between the Adriatic Sea and the Ionian Sea. It is a country characterized by mountains, including a portion of the Albanian Alps.

History: Albania has a rich historical heritage and has been inhabited since ancient times. It was part of the Ottoman Empire for many years before gaining independence in the early 20th century.

Religion: Albania has a majority Muslim population, along with a Christian minority. The country has a secular state system that guarantees religious freedom.

Economy: Albania’s economy has experienced rapid growth and development. Sectors such as tourism, energy production, and mining play significant roles in the economy.

Culture: Albania has a rich cultural heritage, with traditional music, dance, and crafts being integral parts of Albanian culture. Albanian cuisine is also known for its delicious and diverse dishes.

Politics: Albania is governed as a parliamentary republic. The country has a number of political parties, and efforts are made to maintain political stability.

 

European Union Membership: Albania has been recognized as a candidate country for European Union membership and is actively pursuing various reforms to progress in the accession process.

 

As Zirve Legal Law Firm, we offer a wide range of legal services in Albania.

Company Formation:

The fundamental steps in the process of establishing a company in Albania include:

Business Plan and Research:

The first step is to decide the type of business you want to operate in Albania and create a business plan. Your business plan should include details about the nature of your business, target audience, and financial projections. Additionally, conducting a competitive analysis and market research is essential.

Selection of Company Type:

In Albania, the most common types of companies include Limited Liability Company (Shoqëri me Përgjegjësi të Kufizuar – Sh.p.k.), Joint Stock Company (Shoqëri Anonime – Sh.a.), Sole Proprietorship (Biznes Individual), and Cooperative (Kooperativa).

Application to the Commercial Register:

To establish your company, you will need to apply to the Albanian Commercial Register. The application process may vary depending on the type of company. Prepare the necessary documents to register your company.

Tax and Business Licenses:

You will need to register your company for tax purposes and obtain the required business licenses. This may involve obtaining permits from local municipalities and relevant government agencies.

Opening a Bank Account:

You should open a bank account for your company to manage transactions and track financial activities. (Societe Generale, Banka Kombëtare Tregtare (BKT), Raiffeisen Bank, etc.)

Residence Permit in Albania

Real Estate Investments in Albania

Business Transfers and Establishments in Albania

Foreign Investment Incentives in Albania

As Zirve Legal Law Firm, we provide legal and accounting services in Albania in partnership with our expert partners in the fields of law and taxation.