We will represent you the new changes regarding the beneficial owner registration. In any case when a new law is adopted, the first thing that is noticed is its implementation in practice and the problems that practice will bring. As a result, the recently adopted laws are subject to periodic changes in order to eliminate…
Vision Consulting Albania is delighted to provide some useful details for any foreigner or expat in Albania regarding visa, work permit, residence permit information. Based on your nationality you may or may not be required to obtain a visa prior to entering in our country. You can check the visa regime which Albania applies with…
According to statistical data from INSTAT, automobile accidents are in quite alarming numbers. The reasons for this are different and depend on various factors whether natural but also human errors or inadequate infrastructure. Normally, being involved in a car accident brings serious consequences for the parties involved, where among the main ones are: material damage,…
The General Directorate of Taxes has recently brought to attention a very important obligation for individuals in the Republic of Albania who have relatively high incomes. They must submit an individual statement of annual income. Lately we have been notified that the annual income statement deadline postponed. As a reminder, the persons who have the…
Driving license conversion, now possible An agreement approved between the Council of Ministers of the REPUBLIC OF ALBANIA and the Government of the REPUBLIC OF ITALY has as its main purpose the mutual recognition for the purpose of conversion of permanent driving licenses issued by the competent authorities to the respective holder of the driving…
Obligated entities to submit the Individual Annual Income Statement The General Directorate of Taxes has recently brought to attention a very important obligation for individuals in the Republic of Albania who have relatively high incomes. They must submit an individual statement of annual income. The persons who have the obligation to submit this statement are:…
Beneficiary Owner, anti money laundering law now approved. Vision Consulting Albania is delighted to introduce you with some of the main changes brought by the new law on beneficiary owners registration, law no.112/2020. Who can be a beneficiary owner and what is the purpose of the register of beneficiary owners? The beneficiary owner is: The…
Financial help for the self-employed – 500’000 ALL financial help from the government of Albania Through the Decision of the Council of Ministers No. 348, dated 29.4.2020 “On procedures, criteria and regulations for the implementation of the incentive program in the promotion of self-employment”, the Albanian government has decided to assist with subsidies. To apply…
Force majeure, what happens to the contracting relationships in this case? Through the act no. 243, dated 24.03.2020, in the Republic of Albania was announced the state of Natural Disaster which was extended until June 23rd. In contractual relationships this situation falls under the provisions of the Force majeure. In some contracts such situations are…
1. Introducing Albania Albania is located in the heart of the Mediterranean and near the coast of the Adriatic and Ionian seas. Situated between Greece, Macedonia, and Montenegro in land borders and Italy crossing the Adriatic Sea, Albania remains a very important gate of entry for the Balkans and Eastern Europe. It still is an…