Albania Company Formation

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Albania

Company Formation and Related Services

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Buying a European shelf company with VAT number

Whenever you need to start doing business immediately in a European country and you need a company with a VAT number, you don’t have to wait for the bureaucratic procedures.

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Partner Law Firms

We encourage you to contact our partner law firms in Bucharest: Rolegal and E&C, both part of our legal network.

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Tax Minimization Structures

BridgeWest is specialized in special corporate structures designed for tax minimization. No matter where you want to incorporate your company, you will need to consider how you can legally minimize costs.

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Nominee Director in Albania

January 4, 2013, 12:54 pm
BridgeWest

The two main forms of business incorporated in Albania, the limited liability company (SH.P.K) and the joint stock companies (SH.A), can be established by a single person with a minimum share capital of 10,000 LEK(SH.P.K) or 2 million LEK (SH.A) and are registered based on the incorporation documents, which are the articles of association. In these articles (which also represent the internal regulation of the company) besides the name, address, purposes, details regarding the capital and the shares and company’s duration are also stipulated the names of the owners and shareholders. In certain situations, when the actual owner wishes to keep the confidentiality regarding its interests in the company it may appoint a trustworthy person to act as administrator of the company, called nominee director. A nominee director in Albania is an individual or a corporate body appointed by the company’s shareholders in order to protect the confidentiality of the company’s owners.

Traditionally in offshore jurisdictions the responsibilities and rights of the nominee director are limited and almost inexistent, its main function being renting its name to the company, in order to be used  in the incorporation process and in certain situations to sign the company’s minutes of the board’s meeting and the company’s statement of accounts. It’s also known as “straw man” since it has the role of representing the company only by name.

Since the Albanian legislation does not allow nominee directors only for these purposes, it’s necessary to appoint persons capable to represent the company responsible. A nominee director has the same duties and rights as a company’s member and in addition it must represent the company in front of the authorities and in front of third parties and public. It must present reports in front of the general meeting of the shareholders regarding the company’s actions, sign on the minute of these meetings, check the company’s accounts and sign it before depositing at the authorities. It is also involved in the process of company liquidation if it’s necessary.

There is no legislation to regulate the process of appointing a nominee director in Albania, however BridgeWest can offer in certain cases nominee directors in Albania depending on certain specifics of your business in the country. Please contact us for more information.




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Company Formation in Albania

Tirana

BridgeWest provides company formation services in Albania. Our assistance includes:

> drafting the Articles of Association (necessary for the company incorporation in Albania);
The Articles of Asso ... [More]

Legal Services Albania

Tirana

BridgeWest provides a wide range of legal services in Albania through our affiliated Albanian lawyers and Law Firms in Tirana and other major cities in Albania. We are mainly specialized in the main aspects of Albanian Commercial Law, including Co ... [More]