Personal accounts: Albania

Updated 8 October 2026

An honest assessment before work starts, the quote is fixed in writing.

A personal account in Albania is opened by those moving here to live or work, buying an apartment on the coast or in Tirana, earning rental income or simply spending part of the year in the country. Albanian banks are supervised by the Bank of Albania and open personal accounts for foreigners on a passport, with different additional documents depending on status.

Who can open a personal account in Albania

Account currency

Accounts are opened in lek, euros and dollars. In Albania many prices, especially for property and rent, are quoted in euros, so a personal account is usually multi-currency: lek for everyday payments, euros for larger settlements. Albania is part of the Single Euro Payments Area: Albanian banks have processed SEPA euro transfers since 7 October 2025, and all 11 banks are connected. Dollar amounts below use the Bank of Albania official rate of 5 October 2026, 81.97 lek per dollar, rounded up.

How the account is opened

• A branch visit with passport and, for residents, the residence card.
• A form covering the account's purpose, source of funds and tax residence.
• Proof of address in Albania or the country of residence.
• For large inflows, documents on the origin of money: sale of assets, salary, inheritance.
• The account, card and online banking are usually ready within a few days.

An account for buying an apartment

When buying a home, money is moved to an Albanian account in advance, and payment to the seller goes through the bank at the notary. The bank and notary check the source of funds, so statements and income documents are best prepared before the transfer. The account is also needed to pay property taxes and utilities and, if the apartment is let, to receive rent.

Deposit protection and data exchange

The Albanian Deposit Insurance Agency guarantees deposits up to 2.5 million lek, about $30,500, per depositor per bank. Albania takes part in automatic exchange of tax information: the bank establishes the client's tax residence and reports foreigners' accounts to their country of residence. The bank withholds tax on interest at the Albanian statutory rate.

Tax residence in Albania

If you spend 183 days or more a year in Albania, or your permanent home and centre of vital interests are here, you become tax resident and declare income in Albania. A non-resident pays Albanian tax only on Albanian-source income, such as rent from an Albanian apartment. Status determines what the bank records on the form and where it reports the account, so we establish residence before opening.

Why Albanian banks refuse

• The account's purpose is not explained and there is no link to Albania.
• Large inflows are expected without documents on their origin.
• Citizenship or payment countries on a higher-risk list.
• No proof of address.
• The account is wanted for third-party transfers.

How we help

We assess your profile and choose a bank, prepare the form and source of funds documents, and accompany the branch visit. If you are buying property or relocating, we tie the account opening to the deal and residence permit.

What we do

• Personal account - opening assistance

See also

Company formation · Business account · Investment property

FAQ