Albania is a country in Southeast Europe, located in the western part of the Balkan Peninsula, with a coastline at the Adriatic and the Ionian Sea in the west (both portions of the Mediterranean Sea. It is bordered by Montenegro in the north, Serbia in the northeast, the Republic of Macedonia in the east, and Greece in the southeast. In addition, Albania shares maritime borders with Croatia and Italy. Known to be home to many castles and archeological sites, the country also boasts of a National History Museum, with exhibits spanning antiquity to post-communism. In Albania, it is widely known that no sector is closed to foreign investors and that there are no legal barriers to market entry. Foreigners are totally free to engage in economic activities without the need to request permission or authorization. This is made possible by the country’s registration which has made provisions in all cases and at all times for foreign investments to receive fair and equitable treatment and to enjoy full protection and security. These are undoubtedly pointers to the fact that setting up a business in Albania is a profitable move.
Among the types of commercial companies that may be established and operated in Albania is the Joint Stock Company. It is a common type of company in the country due to the simplicity in its structure and other benefits it offers.
Founders of an Albanian Joint Stock Company can be individuals or corporate entities, which are not liable for the company’s commitments and which bear losses only to the extent of their unpaid value of the issued shares in the basic capital. The company can be established by and can have one or more partners.
For an Albanian Joint Stock Company, the minimum share capital for an Albanian Joint Stock Company with a private offer is ALL 3,500 while for one with a public offer is ALL 10,000. There is flexibility in shareholder’s contributions as it may consist of cash or property and rights valued in money.
Stocks have an equal nominal value resulting in equal rights for owners. They are also negotiable as they incorporate patrimonial value. Therefore, they are considered securities of bonds and can be traded on regular markets.
The structure of an Albanian Joint Stock Company is flexible for the participating companies. A joint venture is a temporary contract between participating companies that dissolves at a specific future date or at the completion of the project. Hence, participating companies do not have to give up control of their businesses to another entity, enabling them to maintain their identity and be able to easily return to their individual business operations upon the completion of the joint venture.
One other benefit is that an Albanian joint stock company is well equipped to undertake business on a large scale. As a result, it can derive all the advantages of large-scale production which includes cost efficiency and profit maximization. Also, they are able to improve society by creating large-scale employment opportunities, promoting balanced regional development and contributing substantially to the government by way of taxes.
So, are you in need of a business entity that is very stable, can operate on a large scale, and is able to pull together many resources? Then, setting up a Joint Stock Company in Albania is one right move to make.