The underlying legal code in Albania is civil law law. You will want to get some local advice as to how to best structure a company in Albania. E-signatures are allowed.
The letters AL is for Albania and the most common company structure in Albania is a LLC.
The average time to incorporate is 1-2 working days to put together the paperwork and file a LLC in AL. The types of cash you can use to capitalize your company is often LEK and any legal currency.
To "re-dom" a company is not common, and there are no re-domiciliation laws. One is typically not permitted to change the jurisdiction.
There must be at least 1 shareholder. This makes it possible for you to own a LLC in AL by yourself. Corporate Shareholders are permitted, which means you can have a legal entity as a shareholder. Foreign ownership is tolerated, up to 100% of the ownership of the LLC.
A company is only required to have 1 director on the board. Furthermore, corporate directors are permitted. Directors are disclosed publicly. There is a body of law which requires companies to hold an annual meetings of shareholders.
A registered legal firm must be retained for an address, paid by the company on an annual basis, for an office which can receive a service of process on behalf of the registered legal entity. Moreover, a corporate secretary is not always necessary, at least not by law.
There is an obligation to file yearly tax returns. Furthermore, there is oftentimes a requirement to have these accounts audited.
Thin capitalization rules are in effect. A company is thinly capitalised when there is a greater proportion of debt than equity. The minimum capitalization for a Albania Civil Law is ALL 100.
A corporate director is permitted, meaning this country is a good option if you are setting up a structure where you want to protect director liability.
The directors are disclosed in the public registry of Albania, National Registration Center. Shareholders are not disclosed in the National Registration Center.
Typically companies take 1-2 working days to setup and there are 1 director(s) required and 1 shareholder(s) required at the time of incorporation.
Overall we think Albania is a ok option and have given it a score of 59 as an IO score, using the Incorporations.IO proprietary formula.
1-2 working daysto form