• ALBANIA Limited Liability Companies LLC

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ALBANIA Limited Liability Companies LLC

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Limited Liability Companies LLC in Albania

A limited liability company in ALBANIA (Sh.p.k.) is the most common legal entity chosen by entrepreneurs entering the Albanian market. It is flexible and appropriate to a starting business.

A limited liability company in Albania requires a minimum initial capital of only ALL 100 (approximately USD 0.99 or EUR 0.72). It can be established by one or more partners, natural persons or legal entities who are responsible only to the extent of their contributions to the company’s social capital. Contributions can be in cash or any other assets, although contribution in the form of services is not allowed.

Decisions regarding the overall management of the company are taken by the shareholders general assembly and day-to-day management is performed by directors appointed by the shareholders general assembly.

Directors are not required to hold an interest in the company. The law requires annual financial reports to be prepared. Limited liability companies with income which is above a certain threshold are required to appoint certified public accountants to prepare financial reports.

Limited liability companies may be transformed into partnerships or joint stock companies upon decision of the majority of three fourths of the shareholders general assembly provided that the last two annual financial statements have been approved.

Wed Jun 10 00:26:41 CEST 2015




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