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  • Writer's pictureCreimerman Product Team

How to Obtain Residency and Citizenship in Albania and Invest in Real Estate.




Albania, located on the Adriatic coast and bordered by Greece, Montenegro, North Macedonia, and Kosovo, is emerging as an attractive destination for investors and expatriates. Though not as well-known as other European countries, Albania offers unique opportunities for establishing residency and citizenship, particularly through real estate investments.




Advantages of Living in Albania



Economic Growth and Opportunities


Albania is experiencing economic growth with a focus on strengthening the private sector. The low foreign population has motivated the government to attract more foreign investment, offering various incentives to facilitate the process.



Foreign Investment Regime


Albanian laws allow 100% foreign ownership of businesses and provide tax incentives, such as property tax exemptions and real estate transfer tax exemptions in special economic zones for a five-year period. This makes Albania an attractive option for investors.




Process for Obtaining Residency in Albania


Initial Visa and Entry


Citizens of visa-exempt countries can enter Albania with a valid passport and stay for up to 90 days within a 180-day period. For longer stays, a residency permit is required.




Types of Residency Permits


Albania offers several types of residency permits depending on the duration and purpose of the stay:


Temporary Permit: Initially issued for one year and renewable annually.


Permanent Permit: Issued after five years of continuous residence.




Residency Permit Requirements


Type D Visa: Required for extended stays while the residency application is processed.


Proof of Funds: Applicants must demonstrate they have sufficient funds to support themselves during their stay.


Registered Address: Applicants must have a registered address in Albania.


Application Fees: Approximately €50 in state fees.




Obtaining Citizenship in Albania


Citizenship Requirements


After five years of continuous residence, residency permit holders can apply for Albanian citizenship. Applicants must demonstrate basic proficiency in the Albanian language and pass a citizenship interview.




Investing in Real Estate in Albania



Real Estate Market Opportunities


The real estate market in Albania offers competitive prices and is less saturated than in other European countries. Real estate investments can be a pathway to obtaining a residency permit.



Investment Conditions


Property Ownership: Foreigners can purchase both residential and commercial properties. There is no minimum investment amount specified by law, but at least 50% ownership of the property is required.


Residency Permit by Investment: Investors receive a temporary residency permit, which can be renewed annually.



Purchase Process


Research and Property Selection: Identify properties that meet investment criteria.

Sales Contract: Sign a purchase contract and register the property.


Residency Application: Submit a residency application based on the acquired property.




Conclusion


Albania is a promising destination for those seeking new residency and investment opportunities in real estate. With a favorable foreign investment regime and an accessible process for obtaining residency and citizenship, this Balkan country is gaining attention as an attractive place to live and invest.




If you want more information about Investment Abroad and its opportunities to develop business, contact us today! Below this article, you will find a link to set up a free ten-minute consultation with us to discuss your options further.


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