By Gmb Publishing, George Curmi
This is often the 1st authoritative advisor to the clients for enterprise and funding in Albania. It exhibits how this small eu nation is establishing up for company having lately bolstered its ties with the european via a Stabilization and organization contract. Macroeconomic functionality has superior sharply lately, because of guidelines less than IMF-backed programmes, prompting new curiosity from the overseas enterprise group.
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9121, dated 28 July 2003); and • European Union Directive 86/653/EEC on the Coordination of Laws Relating to Self-Employed Commercial Agents. Commercial agency and agency agreements As noted above, agency agreements (concerning self-employed agents) are specifically governed by the Civil Code, and where issues are not covered in that section, they shall be governed by the general provisions of contracts and of legal transactions within the Civil Code. Although Albania is not yet part of the European Union (EU), it is party to a Stabilization Association Agreement (SAA) with the EU that was signed on 12 June 2006.
It is possible to have a company formed by a “sole partner” and the powers that are usually exercised by all the partners in accordance with the provisions of the Company Law are consolidated and are under the authority of that sole partner. The name of a limited liability company can include the name of one or more of the partners preceded by or immediately followed by the words “limited liability company” or the initials “SHPK”. Limited liability companies are managed by one or more physical persons.
FDI has been rising consistently since 2004, but Albania continues to lag behind in this sphere when compared to its regional competitors. In June 2007, the Albanian government approved a 10 per cent flat tax rate on corporations, which is the lowest in South East Europe. Other investment incentives are also offered in tourism, especially in construction and redevelopment, where companies may be exempt from profit tax for up to five years, followed by a 50 per cent reduction over the next five years.