Albania offers residency by investment through real estate, and the Parliament of the Republic of Albania has published a package of amendments to the text of the law on foreigners. The innovation can have a positive impact on the local housing market. According to the innovation in Article 84, foreign citizens can apply for a residence permit based on the acquisition of real estate in Albania:
You can renew a residence permit only five times, and you can apply for citizenship after five years of permanent residence in the country and after passing a language exam. Previously, it was possible to obtain a residence permit in Albania only based on work, and study.
Minimum Investment – USD$ 100,000
Advantages of the Residency by Investment Program
Albania currently allows dual citizenship. Albanian citizens can freely apply for and acquire another citizenship without losing their Albanian. Foreigners also can apply for Albanian citizenship, without renouncing their previous citizenship.
Step 1: Select the application requiring a residence permit.
Step 2: Fill out the online form.
Step 3: Gather all the required documents.
Step 4: Upload all the documents listed on the form, in PDF format.
Step 5: The State Police clerk begins verifying the documents upon receiving a notification for the new application.
Step 6: If the application is complete the applicant will be notified to submit the original documents in person. If the application is not done, the State Police clerk notifies the applicant about inaccurate data and advice on how to reapply. The applicant goes to the Office for Citizen Service at the time set by the clerk of the regional office.
Step 7: The clerk gives the residence permit to the applicant.
Privacy World offers its services to anyone, not only looking to obtain residency and citizenship processes but our experts figure out legal ways to:
Privacy World can also help you with incorporating your company in Albania, assisting in getting you settled in the country, and coordinating with you so that this experience will be less of a hassle.
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Yes, Albania currently allow dual citizenship without renouncing your previous citizenship.
If the foreign citizen has legally resided in Albania for five consecutive years and has stable activities or relationship in the country.
There are no restriction on the foreign ownership of real estate in Albania, except for agricultural land.
No interview required.
According to Albanian law, citizenship can also be acquired by naturalization. In order to apply, the prospective applicant must meet a number of requirements in including being at least 18 years of age and having resided in the Republic of Albania for at least 5 years.
Resident individuals are taxed on all sources of income in and outside the territory of Albania.
Non-resident individuals are taxed on income generated only in the territory of Albania.
There is no net wealth tax or net worth tax in Albania.
Individuals are taxed on inheritances and gifts as income at a flat rate of 15% when the taxable income is realized.