Cost of registration | The cost of the second year | Number of Directors | Corporate tax rates | Payment of Charter Capital | Financial statements |
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3150.00 EUR | 2520.00 EUR | 1 | 20.00% | 1.00 | Yes |
Albania is a Balkan nation situated in South-Eastern Europe The population of Albania is close to three million people. The coastal Albania borders the Adriatic and Ionian sea in the Mediterranean. Albania is bordered by Kosovo (northeast), North Macedonia (east), Greece (south), Italy (west) and Montenegro (north-west). Albania is part of the ancient Greek, Roman and Ottoman empire culture. The capital of Albania is Tirana. The official currency is the Albanian Lekë (ALL). The official language spoken is Albanian, although Italian, English, Greek and Macedonian are understood by citizens. The country is a unitary parliamentary constitutional republic with an upper middle-income economy. The Republic of Albania is a member of the United Nations, World Bank, UNESCO, NATO, WTO and many more. Albania supports the free movement or transportation of capitals, incomes, private property or investments as they are all protected by law. The authority responsible for the incorporation and formation of companies is the Albanian Commercial Registry. Benefits of Company Formation in Albania
Business in Albania: Taxes
The following are taxable profits in Albania, they include income and dividends, interest, rent, copyright or intellectual rights, administrative costs, technical conditions, installation services and other related activities, as well as performances of musicians, actors, athletes and many more. Bookkeeping in AlbaniaAnnual returns filing - Yes Statutory audit - Yes Report requirements - Yes Accounting is required annually; Modifications to the company's structure and other related legal matters regarding the process of acquisition or merger, and so on requires a shareholders’ meeting. The decisive vote for any transformations is considered legitimate. Registration of a company in Albania: Types of Companies
It is important to note that Limited Liability Company (LLC) is the most common choice of company type in Albania because this legal entity provides a platform for a sole proprietorship, a flexible corporate structure and limitation of personal liability. Company Registration Requirements in Albania
How to register a company in Albania: The registration processStep 1. Law and Trust works with the client to get the company’s name and activity approval from the Commercial Registry of Albania; Step 2. Law and Trust with the client to secure the Memorandum of Association (MOA); Step 3. Law and Trust collects, prepares and files the necessary incorporation documents on behalf of the client to the relevant authorities for approval; Step 4. Law and Trust works with the client to open a corporate bank account in Albania; Step 5. Law and Trust deliver the certificate of incorporation personally to the client or via courier service. Albania Company Formation FAQsHow long does it take to register a company in Albania? It takes from four weeks to completely register a company in Albania. It is also possible to purchase a ready-made company between two to four weeks. How much does it cost to register a company in Albania? The cost of registering a company in Albania is $3570. the total cost includes the preparation of legal documents, company registration, payment of all taxes and fees at the time of registration and legal address for the company (a year). Can I start a business without registering it in Albania? It is not possible to start a business in Albania without registration, a license is required to operate or run a business in Albania. Do I need a local address to register a company in Albania? Yes, it is required to have to a registered address in Albania to complete the necessary company registration and formation process. How can I register a company name in Albania? The registration of a company name begins with the filing of the appropriate documents, Law&Trust helps with preparation and compilation of the necessary documents ensuring it meets the requirements set out by the commercial registry with regards to the approval of a company name. WHY INCORPORATE WITH LAW&TRUST INTERNATIONAL?Benefits of company registration, formation, and incorporation service with Law&Trust International in Albania include: Full range of related services: Provision of a full range of legal, corporate, government, and business intelligence related services in Albania. A detailed overview of our services includes full legal support of the company registration procedure, obtaining a legal address, interaction with the official government authorities of the jurisdiction, state fees, legal address of the company for a year, production and registration of company stamps and advising the client as part of the registration process. Opening a bank account and the cost of this service are discussed during the consultation. Professionals and expertise of Law: Worldwide registration and legal maintenance of companies, accounting services, and audit, tax planning and optimization, trademark and patent registration. Law and Trust provide the client with the best company incorporation services. Domestic service: Law&Trust ensure our services cover every region, area or state in Albania. Be rest assured that no matter where the new company intends to incorporate in Albania, we’ve got the location covered. Free initial advice: Free consultation from the lawyers of Law&Trust International regarding strategies or the provision of services for analyzing and developing a legal position on an issue the client raises in Albania. Confidentiality: Law&Trust makes use of modern technological features to keep the records and details of every client safe. Efficiency and productivity: Strategically providing up to date personalized services to help your business succeed. READY FOR COMPANY INCORPORATION?If you are interested in registering and incorporating a company in Albania, contact Law & Trust International by simply sending an email or call now to take your business to the next level! |
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Square | 28 748.00 |
Population | 2 831 740.00 |
Capital | Tirana |
Unemployment | 12.80 |
State polity | Parliamentary republic |
Telephone code | 355 |
Place in the world in corruption | 113 |
location | Balkan Peninsula |
Climate | subtropical Mediterranean climate, summers are long, hot and dry, winter - mild and wet. |
Literacy rate | 78.00% |
Ethnic groups | Albanians - 95%, the Greeks - 3%, Romanians, Gypsies, Serbs, Macedonians and others - 2%. |
National currency | lek |
USD exchange rate | 0.01 |
GDP per capita | 104 |
Official language | Albanian |
Credit rating | B+ |
The judiciary | Supreme Council of Justice, the Constitutional Court; The Court of Cassation; Military Court; two appellate courts (one for civil and criminal cases and one for military affairs); High Court, which has three chambers (civil, criminal and military cases). |
Executive authority | The Council of Ministers, consisting of a Chief Minister and Ministers |
Legislative authorities | Assembly (Parliament) |
Opportunity to purchase ready-made companies | No |
Legal system | Civil Law |
Terms of purchasing ready-made company | 2-4 weeks |
The use of the Cyrillic alphabet in the name | No |
Local registered office | Yes |
Organizational and Legal Forms | Limited Liability Company (Shpk); Company with joint equity (Sha); branch |
Local registered agent | No |
Information about the beneficiary is disclosed | No |
The minimum amount of the issued capital | No |
Bearer shares | No |
The usual size of the authorized capital | 70 cents |
Usual nominal value of shares | 1000 lek |
Possibility to issue shares without par value | No |
VAT | Yes |
Basic corporate tax rate | 20.00% |
Capital gains tax | No |
Currency control | Yes |
The tax on personal income | 20 |
Corporate tax rates details | Updated February 2018: Standard rate of 15% applies to companies with annual turnover exceeding ALL 8 million. Companies with annual turnover between ALL 2 million and ALL 8 million subject to simplified corporate income tax rate of 5% and companies with annual turnover below ALL 2 million exempt. |
Stamp duty | No |
Minimum number of directors | 1 |
The requirement for residency directors | No |
Director of legal entities are allowed | Yes |
The data reveals to the local agent | Yes |
Data field to the public registry | No |
The requirement for the presence of the Secretary | Yes |
Requirement to the residense of the Secretary | Yes |
Requirements to qualification of the Secretary | No |
Legal entity as the Secretary | Yes |
Minimum number of shareholders | 1 |
Data is entered in the public register | No |
Shareholders residency requirement | No |
Information about the beneficiary is disclosed | No |
Information may be disclosed to the local agent | Yes |
Shareholders-legal entities are acceptable | Yes |
Meeting / regularity / place | annual meeting |
The requirement for filing reports | Yes |
Open access to reports | No |
Statutory audit | Yes |
The requirement for filing Annual Return | Yes |
Open access to the Annual Return | Yes |
The requirement for reports | Yes |
Treaty on avoidance of double taxation (States which signed) | 18 |
Membership in the OECD | No |
Is it offshore according to Russian legislation | No |
TM Comprehensive Study | TM Registration Request | TM Registration Certificate | Total | ||||
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First Class | Additional Class | First Class | Additional Class | First Class | Additional Class | First Class | Additional Class |
80.00 | 30.00 | 430.00 | 70.00 | 230.00 | 0.00 | 740.00 EUR | 100.00 EUR |
«TRADEMARK» refers to «Wordmark», «Logo» or «Wordmark + Logo» | |||||||
Prices include all professional and official fees. If the change of official duties or exchange rates prices may vary. В Албании запрос на регистрацию товарных знаков включает бесплатный перевод 100 слов из списка товаров или услуг на албанский; существует пошлина в размере 18 долларов США за каждые дополнительные 100 слов. |