Worldwide Finance Awards 2022

Acquisition International - Worldwide Finance Awards 2022 15 2. It’s a free market. The Albanian economy is now characterised by full liberalised trade, and it is the most elastic of the economies of South-Eastern Europe – the only economy that has not gone through a period of recession. 3. It is a favourable environment with favourable conditions and costs, including tax benefits and incentives in strategic investment sectors, as well as an online system for tax filing and payments. 4. It has a one-stop shop model, meaning speed and transparency with registration of a new business in 24 hours, and granting of commercial licenses from the National Licensing Centre. 5. There is a variety of investment choices covering public and private partnerships and in areas with stability and sustainable growth, with sectors including renewable energy, mining, tourism, agri-food, transport and logistics, production, and ICT services. 6. Legal support is available with no further government authorisation required and all sectors open to foreign investors. There are no limitations or restrictions for foreign participation in companies (even 100% foreign is possible). 7. The country has a skilled and highly creative workforce, with knowledge of foreign languages. English, Italian, and Greek are widely spoken, and French and German are included in the education system. About 116,292 students register annually at university, and more than 1,071,948 individuals overall are young, educated, and motivated professionals. 8. The labour costs are low; Albania’s minimum wage is the lowest in Europe at 250 euros. 9. Albania has a favourable tax system. Its corporate tax rate goes from 0 to 15% and personal rate from 0 to 23%. Its tax regime is advantageous for strategic sectors, alongside there being treaties to avoid double taxation in over 30 countries. The Albanian tax system is non-discriminatory towards foreign investors and no distinction is made between foreign and national investors. 10. There is rapid development of infrastructure, with new and fast improvement of infrastructures in the transport, telecommunications and energy sectors, along with well-developed and low-cost shipping services, and quick, easy transport routes and direct delivery mechanism to most EU countries. 11. Last but not least, Albania is a highly recommended tourist destination. In 2014, The New York Times listed Albania at number four out of 52 countries to visit; in 2012 Frommer tour guide named Albania as one of the most important destinations; and in 2011, Lonely Planet rated Albania as the first of the ten best places to visit. Indeed, it’s easy to see the benefits of investing in Albania and why Italian Network is the consultancy to trust when it comes to internationalisation, tax and labour advice, and HR management. Now, the company is focused on continued development, with constant professional and technological updates and improved customer service as it heads towards a very bright future. Company: Italian Network Contact: Roberto Laera Email: Website: