Procedure for company formation in Albania:

1. Research and Planning: Commence your company formation process in Albania by conducting thorough research on different business structures, such as sh.p.k. (limited liability company) or joint-stock company. Evaluate factors like liability, taxation, and ownership structure. Develop a comprehensive business plan outlining your objectives, target market, and financial projections.

2. Choose a Name: Select a unique and distinctive name for your company, ensuring it complies with Albania’s naming guidelines. Conduct a name search with the National Business Center (QKB) to confirm availability and register the chosen name.

3. Articles of Association: Prepare the Articles of Association (Statuti) outlining essential information about your company, including its name, registered office address, business scope, shareholders, and management structure. File the Articles with the National Business Center and pay the necessary registration fees.

4. Share Structure and Management: Clearly define the share structure of your company, specifying the number and types of shares to be issued. Appoint the management structure, including directors and any additional officers, ensuring compliance with Albanian company law.

5. Tax Registration: Register for tax purposes with the Albanian Tax Administration (ATRA). Obtain a unique tax identification number (Nipt) and familiarize yourself with corporate tax obligations, including income tax and value-added tax (VAT).

6. Licensing and Permits: Depending on your industry, obtain the necessary licenses and permits from relevant authorities. This may include approvals from municipal offices or sector-specific regulatory bodies.

7. Social and Health Insurance: Register your employees for social and health insurance with the Institute of Social Insurance (Instituti i Sigurimeve Shoqërore). Comply with labor laws and ensure contributions are made as required.

8. Bank Account: Open a business bank account with a reputable bank in Albania to manage your company’s finances separately from personal finances. Ensure compliance with any specific banking requirements.

9. Compliance and Reporting: Understand and adhere to ongoing compliance requirements, including filing annual financial statements, maintaining corporate records, and updating any changes in company details. Stay informed about Albanian corporate governance regulations for continuous compliance.

10. Seek Professional Assistance: Consider seeking the expertise of professionals, such as legal advisors, accountants, or business consultants familiar with the Albanian business environment, to navigate any complexities in the company formation process and ensure compliance with local regulations.