Requirements for foreigners who invest in Albania are strengthened

Requirements for foreigners who invest in Albania are strengthened

Tirana, 27 June 2016/Independent Balkan News Agency

The Albanian government has decided to strengthen the requirements for issuing stay permits for foreign citizens who do business in Albania.

In a recent decision, it has announced a bill which makes it tougher for foreign entrepreneurs who have invested in Albania to be issued with a permanent stay permit.

From now on, a foreign entrepreneur may be issued with a permanent leave to remain if he has invested at least two million euros and has opened at least 100 new jobs.

With the current law, the required investment amount was one million euros while the number of jobs that had to be created was ten.

The government’s bill also includes facilitating measures for those who want a temporary leave. The draft cuts the time and procedures for leaves issued to companies which have made investments in Albania and want to bring their staff from their country of origin.

For the first time, the new bill enables foreign independent professionals to offer services in Albania. They are self employed people outside the territory of Albania, but who have a contract for offering services with a beneficiary in Albania. /

Archive photo: Foreign business people during an activity in Tirana