Ways of Doing Business in Albania

As World Company Setup, we efficiently and effectively assist our clients with:

Albanian business registration
Business license (if required)
Albanian corporate banking solutions
Visa options and personnel recruitment strategies
Solutions for renting workspace in Albania.

Compare different Albanian entities	Tax resident LLC	Fast nominee LLC	Free zone LLC	Representative Office	Branch
Also known as	SHPK	Shelf company	AFC company	RO	BO
Best use of company?	All products and services	Close a client deal now	Manufacturing and export trading	Market research	Specific projects
How soon can you invoice clients/sign sales contracts?	2 months	2 weeks	3 months	3 months	3 months
How soon can you hire staff?	2 months	2 weeks	2 months	3 months	3 months
How soon can you sign a lease agreement?	1 week	1 week	1 week	1 week	1 week
How soon are corporate bank account numbers secured?	3 months	4 weeks	4 months	4 months	4 months
How soon are company registration tax numbers provided?	2 months	2 weeks	3 months	3 months	3 months
Corporate tax rate on annual net profits?	15%	15%	0%	0%	15%
Limited liability entity?	Yes	Yes	Yes	NO	NO
Government incentives available?	NO	NO	NO	NO	NO
Government approval required for foreign owners?	NO	NO	NO	NO	NO
Resident director/partner/manager/legal representative required?	NO	NO	NO	Yes	Yes
Minimum paid-up capital?	€1	€1	€50,000	None	None
Can bid for government tenders?	Yes	Yes	Yes	NO	Yes
Corporate bank account location?	Alpha Bank	BKT	First Investment Bank	Intesa Sanpaolo Bank	Tirana Bank
Can secure trade finance?	Yes	Yes	Yes	NO	NO
VAT payable on sales to local customers?	20%	20%	0%	None	None

Average total engagement time?	3 months	3 months	4 months	4 months	4 months

Brief Information About Albania

Albanian greetings at first meetings tend to be conservative and restrained. A handshake and direct eye contact is expected. In general, business persons will be referred to by their surname unless asked to be addressed by their first name;

Business meetings are often held in unusual locations, with cafes, home residences and taxi rides often used;

Meeting programmes are generally loosely followed in Albania. Time is usually not a factor during meetings, so long meetings can be expected;

Gift giving is a big part of Albanian business culture. When a gift is given, you are expected to give a gift in return. Money is not welcome as a gift; instead, some small mementos from your home country are usually a good choice. If your potential business partner has children, it is a good idea to bring them a small gift;

When starting a new business, it is important to find out which Albanian registrations and licences apply to your company. This can be a complex area as local, state, regional and federal governments handle registration and licensing for various aspects of your business.