Albania has a modern corporate laws, designed by Law no. 9901 of 14/04/2008.
In Albania it is possible to exercise the business activities both individually and corporate. And in particular, the methods provided are the following commercial companies:
1. Collective Society (Part II: General provisions, relationships between partners, relations between members and third parties, dissolution of the company and of the social relationship, liquidation of the collective society);
2. Limited Partnership (Part III);
3. Limited Liability Company, the most common form of company in Albania, where collective and individual enterprise operating model characterized by limited liability. And ‘it governed by “Part IV” of the law nr. 9901 of 14.04.2008, which contains general provisions, rules on quotas and transfer of shares, the relations between the company and shareholders, on the company’s bodies, administrators, on the dissolution of social relations and exclusion of the member. This type of companies, may not have capital of not less than 100 leke (about 0.70 €);
4. Public Company (Part V: General provisions and Constitution, actions, legal relations between the company and shareholders, members of the society, general meeting, board of directors, the directors and the supervisory board, increase and reduction in capital, dissolution and liquidation of companies etc.).
The corporate statutes have occurred in point of compliance with standards, both in the constitution of change, from the National Registration Center. But it can provide for specific statutory provisions to the extent permitted by law. To adjust the quorum and the special rights of shareholders and directors. And ‘possible to predict, for example, that the assemblies and board meetings can take place by audio or audio-video conference.
It should be noted that both individual firms that companies in Albania are required, since the beginning of their activity, to enroll in the National Registration Center (QKR), established by Law no. 9723 of May 3, 2007, with branches in the municipalities and the Albanian municipalities.
More precisely, the requirements mind, are required to enroll in the QKR:
a. natural persons who exercise economic and commercial activities;
b. ordinary partnerships under the provisions of the Civil Code;
c. commercial companies;
d. branches and representative offices of foreign companies;
e. corporations and credit- savings unions;
f. the mutual cooperation companies;
g. any other entity for which there is an obligation to register in accordance with Albanian legislation.
At the end of the registration process the QKR will release the new company the registration statement and the identification number, the NIPT (the equivalent of the tax code / VAT). Always automatically QKR system will record the company, with the authority of taxes – taxes, the office of social security contributions, welfare and the Department of Labour.
Companies in Albania can be normally established both by natural persons, including non-Albanians, either by companies or legal entities.
In the case of establishment of a trading company with foreign participation, including the various documents required for registration, they are also required:
1. full version into force of the Statute and the Act of the Constitution (if they are two separate documents). In the absence of these documents, the equivalent act of incorporation of the company under foreign law;
2. documents proving the registration of the foreign legal entity (certificate of registration or similar document);
3. documents proving the current status of the foreign legal entity, and if the latter is in liquidation or bankruptcy proceedings;
4. The decision of the competent body of the foreign legal entity for the creation or participation in society (if the person making the request is at the same time, the competent body authorized to act on behalf of the foreign legal person, the proceedings of this point are replaced by the application for registration or subscription and the Statute of the deed).
In the case of the initial registration of a branch or a representative office of a foreign company in Albania, the Law nr. 9723 of 03/05/2007, as amended, provides for various documents, including:
1. the act of incorporation and articles of association if it is two separate documents, or, failing that, the constitution equivalent document, according to foreign legislation. It ‘also required the full text as amended;
2. recording proving the registration of the foreign company, issued no later than 90 days from the date of application, including the information as it is submitted or not to bankruptcy proceedings;
3. the last budget of the company, if the company performs the activity for more than a year;
4. The decision of the competent organ of the foreign company.
Normally the National Registration Center issues the certificate of registration of the company within the next day (when the member is a natural person), or within a few weeks (when the partner is a foreign company).
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