| LLC | JSC | Free Zone Company | Branch Office | Rep Office | |
|---|---|---|---|---|---|
| Local Name | Sh.p.k | Sh.a | AFC Company | Zyra e Degës | Zyra Përfaqësuese |
| Company Setup time | 10 days | 10 days | 15 days | 20 days | 20 days |
| Bank Account Opening | 20 days | 20 days | 20 days | 20 days | 20 days |
| Government Grants Available | Yes | Yes | Yes | No | No |
| Government Contracts Bidding | Yes | Yes | Yes | No | No |
| Legal Liability | Yes | Yes | Yes | No | No |
| Client Need to Travel | No | No | No | No | No |
| Inquiry | Inquiry | Inquiry | Inquiry | Inquiry |
Summary
| LLC | JSC | Free Zone Company | Rep Office | Branch Office | |
|---|---|---|---|---|---|
| Minimum shareholders | 1 | 1 | 1 | 1 | 1 |
| Corporate shareholders allowed | Yes | Yes | Yes | Yes | Yes |
| Individual shareholders allowed | Yes | Yes | Yes | No | No |
| 100% foreign ownership | Yes | Yes | Yes | Yes | Yes |
| Minimum share capital for foreigners | €1 | €30 | €50,000 | None | None |
| Resident director/representative required | No | No | No | Yes | Yes |
| Minimum directors/representative allowed | 1 | 1 | 1 | 1 | 1 |
| Corporate directors allowed | No | No | No | No | No |
| Standard Corporate Tax Rate | 15% | 15% | 0% | N/A | N/A |
| VAT for Local Customers | 20% | 20% | 0% | N/A | N/A |
| Annual financial statements required | Yes | Yes | Yes | Yes | Yes |
| Can issue sales invoices in Albania | Yes | Yes | Yes | No | No |
| How soon can you invoice Clients | 6 weeks | 6 weeks | 10 weeks | 10 weeks | 10 weeks |
| Inquiry | Inquiry | Inquiry | Inquiry | Inquiry |
| LLC | JSC | Free Zone Company | Rep Office | Branch Office | |
|---|---|---|---|---|---|
| Can sign contracts with Albania entities | Yes | Yes | Yes | No | No |
| Hiring Staff Setup Time | 6 weeks | 6 weeks | 10 weeks | 10 weeks | 10 weeks |
| Allowed to import and export goods | Yes | Yes | Yes | No | No |
| Can rent an office in Albania | Yes | Yes | Yes | Yes | Yes |
| How soon can you sign a lease agreement | 5 days | 5 days | 5 days | 5 days | 5 days |
| Can buy Albanian real estate | Yes | Yes | Yes | No | No |
| Can own equity in other local companies? | Yes | Yes | Yes | No | No |
| How long to supply corporate bank account numbers? | 10 weeks | 10 weeks | 14 weeks | 14 weeks | 14 weeks |
| How long to supply company registration \ tax numbers? | 6 weeks | 6 weeks | 10 weeks | 10 weeks | 10 weeks |
| Government approval required for foreign owners? | No | No | No | No | No |
| Resident director/partner/manager/ legal representative required? | No | No | No | Yes | Yes |
| Can secure trade finance? | Yes | Yes | Yes | No | No |
| Inquiry | Inquiry | Inquiry | Inquiry | Inquiry |
Corporate Structure Explained
Albania Limited Liability Company
- In Albania, there must be at least one director and one shareholder to incorporate a limited liability company and they are not required to reside in Albania to complete business set-up formalities. The amount of minimum paid-up share capital as per the law for a limited liability company is € 1 (ALL100). Once the company setup formalities are completed, locally incorporated companies are required to submit financial statements.
Albania Joint Stock Company
- At least one shareholder and one director are required to form a Joint Stock Company. Also, the financial statements of these companies have to be audited every year. The minimum required paid-up share capital for a joint stock company in Albania is € 75 (ALL10,000) in case the company shares are offered to the public and € 30 in other cases.
Albania Representative office
- As per Albania’s corporate norms, representative offices are not allowed to carry out any revenue-generating commercial activities. And therefore these entities can either promote the business of their parent company or do market research.