Business accounts: Albania
An honest assessment before work starts, the quote is fixed in writing.
Albania is an EU candidate country with fast-growing tourism, construction, IT outsourcing and trade. It has one of the simplest company registrations in the region and low taxes for small businesses, and banks open accounts for companies registered in the country. The national currency is the lek, but the euro is widely used in payments, so accounts are usually opened in both lek and euros. Payments to EU suppliers go in euros, while taxes and salaries are paid in lek.
An Albanian company for the account
- The main form is the limited liability company (Sh.p.k.). Online registration with the National Business Centre (QKB) is free and takes one business day; minimum capital is 100 lek.
- The company tax number (NIPT) is issued at registration.
- Profit tax is 0% on annual turnover up to 14 million lek, about $170,800, and 15% above that.
- VAT is 20%, with mandatory registration above 10 million lek, about $122,000, of annual turnover. Dividends are taxed at 8%.
- Each year the company confirms its beneficial owners in the register of beneficial owners.
We will calculate online the cost of opening an account for your company and maintaining it for a year.
Who Albanian banks open company accounts for
| Company | Chances | What the bank cares about |
|---|---|---|
| An Albanian company with an office and activity in the country | high | a QKB extract, NIPT, the administrator at the meeting |
| An Albanian company with foreign owners | medium | source of capital, clients, reason to operate in Albania |
| A foreign company not registered in Albania | low | usually a branch or subsidiary is registered first |
What documents the bank asks for
- A QKB extract and articles of association.
- The NIPT and tax registration.
- Passports of the administrator, shareholders and beneficial owners.
- A shareholders' resolution on the account and signatories.
- The company's address in Albania and a business description.
- Foreign corporate shareholders' documents with apostille and Albanian translation.
Timeline
| Stage | Time |
|---|---|
| Company registration and NIPT | 1-3 business days after documents are ready |
| Translation and apostille of foreigners' documents | 1-2 weeks |
| Preparing the bank file | a few days |
| Bank meeting and decision | 1-3 weeks |
Currency and deposit protection
Companies open accounts in lek, euros and dollars. The Albanian Deposit Insurance Agency guarantees deposits up to 2.5 million lek, about $30,500, per depositor per bank. Dollar amounts use the Bank of Albania official rate of 5 October 2026, 81.97 lek per dollar, rounded up.
The company's obligations after the account opens
Through its Albanian account the company pays salaries, taxes and contributions. Every month it files payroll and contribution returns, and a VAT payer also files a VAT return; all invoices go through the state e-invoicing system. Once a year the company files financial statements with QKB and confirms its beneficial owners. The government has pledged to keep zero profit tax for small businesses until 2029, but it does not remove reporting, so an accountant is needed from the first month.
Why Albanian banks refuse
- The administrator cannot attend a meeting.
- Beneficial owners are not disclosed or not entered in the register.
- The source of capital is not evidenced.
- Higher-risk activity: gambling, crypto, currency exchange.
- The company has no activity in Albania and is needed only for transit payments.
How we help
We register an Albanian company or review an existing one, enter beneficial owners in the register, prepare the account resolution, translations and apostilles, the source of capital file and business description, choose a bank and accompany the meeting until the account opens. Then we connect an accountant so the company keeps zero profit tax while turnover allows.
What we do
- Corporate account - opening assistance
See also
Company formation · Personal account · Investment property
FAQ
Can a foreigner open a company account in Albania?
How much does company registration in Albania cost?
What taxes does a company pay in Albania?
What currency are company accounts in?
How long does opening an account take?
Can the company be registered and the account opened remotely?
Is money in an Albanian bank protected?
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