Opening a bank account is a required step when establishing a company in Albania. Every Albanian company must have a corporate bank account to deposit share capital, manage operations, and comply with financial regulations. Foreign investors frequently ask how to open a bank account for your Albanian company and what documents are needed.
Fortunately, Albania’s banking system allows both local and foreign-owned companies to open accounts under the same regulatory framework, but the process must follow specific compliance rules.
Where to Open a Company Bank Account
Most major banks in Albania offer corporate banking services for limited liability companies (sh.p.k.) and other legal entities. Investors can choose from international banks with local branches or leading Albanian banks, depending on their service preferences.
Foreign owners are not required to be physically present to open a company account if they issue a valid power of attorney to a local representative, though some banks may request in-person identification for certain transactions.
Required Documentation
To open a bank account for your Albanian company, the bank will require official documents proving the company’s legal existence and structure. These typically include the company’s registration certificate issued by the National Business Center, the company’s tax identification number (NIPT), and the company’s articles of association.
The bank will also request identification documents for the company’s administrator or legal representative. If documents are issued outside Albania, they must be legalized with an apostille and officially translated into Albanian.
When Is the Account Opened
The company’s initial bank account is usually opened after registration with the National Business Center. In many cases, Albanian law allows the share capital to be deposited temporarily into a pre-registration account during formation and transferred to the official account once the company is registered.
Banks will activate the operational account once all compliance checks and document reviews are completed, enabling the company to start transactions, issue invoices, and manage payments.
Why Use Professional Assistance
While the process to open a bank account for your Albanian company is straightforward, banks apply strict compliance checks to meet anti-money laundering and know-your-customer regulations. Missing or improperly prepared documents can result in delays or rejection.
Professional guidance ensures the correct preparation, translation, and submission of documents, reducing risks of administrative complications.
Opening a corporate bank account is a mandatory step for any company operating in Albania. Foreign investors must provide official company documents, administrator identification, and comply with bank requirements.