When considering investing in a foreign country, it’s not just about the prices, properties, and potential returns. We also need to evaluate the lifestyle, ethics, people, safety, and overall functioning of the country. Most importantly, we must understand the legal local benefits for foreigners in Albania and whether the country allows us to stay for an extended period.
According to the U.S. Embassy in Albania, Americans can stay in Albania for up to one year without a visa. Europeans, on the other hand, can stay for up to three months without a visa. If they wish to stay longer, they must apply for a Type D Visa, as stated by the Ministry of Europe and Foreign Affairs, which allows a stay of up to 180 days.
Obtaining a Residency Permit in Albania
Take note that there are different types of procedures when applying for a residency permit in Albania. For the sake of this blog, I will mention the most requested ones.
Application for Residence Permit for Use of Real Estate
When applying for a residence permit for the use of real estate in Albania, you’ll need to gather several important documents. Here’s a detailed guide to help you through the process:
Photocopy of Valid Travel Document: Ensure you have a clear photocopy of your valid passport or travel document.
Recent Photograph: You’ll need a photo taken within the last six months. The dimensions should be 47x36mm.
Ownership Certificate or Sales Contract: Provide a certificate of ownership or a notarized photocopy of the sales contract. This document must confirm that you have fulfilled the financial obligations for the property.
Proof of Financial Resources: You must demonstrate that you have sufficient financial resources to support yourself during your stay in Albania. This can be bank statements or other financial documents.
Individual Declaration on Reason for Stay: Write a personal declaration explaining the reason for your stay in Albania. This should detail your intentions and plans during your residence.
Application for a Residence Permit for a Pensioner
When applying for a residence permit as a pensioner in Albania, you need to gather several important documents. Here’s a detailed guide to help you through the process:
Photocopy of Valid Travel Document: Ensure you have a clear photocopy of your valid passport or travel document.
Recent Photograph: You’ll need a photo taken within the last six months. The dimensions should be 47x36mm.
Evidence of Suitable Accommodation: Provide proof of suitable accommodation in Albania. This can be in the form of certificates or lease contracts of the apartment, ensuring it meets the housing standards in Albania.
Proof of Annual Pension Income: You must demonstrate that your annual pension income from your country of origin is over 1,200,000 ALL.
Bank Transfer Evidence: Obtain evidence from a second-level bank in Albania showing the transfer of your pension.
Health Insurance Verification: Provide verification of health insurance coverage in Albania.
Legalized Criminal Evidence: Submit legalized criminal evidence from your country of origin. This document must be obtained within the last six months, legalized, translated, and notarized. This is required only for first-time applicants.
Individual Declaration: Write a personal declaration explaining the reason for your stay in Albania.
Application for Residence Permit for Family Reunification (Spouse)
When applying for a residence permit for family reunification in Albania, specifically for a foreign family member joining a foreign citizen (spouse), you need to gather several important documents.
Here’s a detailed guide to help you through the process:
Photocopy of Valid Travel Document: Ensure you have a clear photocopy of your valid passport or travel document.
Recent Photograph: You’ll need a photo taken within the last six months. The dimensions should be 47x36mm.
Evidence of Suitable Accommodation: Provide proof of suitable accommodation in Albania. This can be in the form of certificates or lease contracts of the apartment, ensuring it meets the housing standards in Albania.
Health Insurance Verification: Provide verification of health insurance coverage in Albania.
Inviter’s Identification and Residence Permit: Include a photocopy of the inviter’s (your spouse’s) identification document and residence permit in Albania.
Proof of Financial Resources: Demonstrate that you have sufficient financial resources to support your stay in Albania. This can be bank statements or other financial documents.
Marriage Certificate: Submit a marriage certificate received within the last six months from your country of origin. This document must be legalized, translated, and notarized.
Application for Residence Permit for Family Reunification with an Albanian Citizen (Spouse)
When applying for a residence permit for family reunification in Albania, specifically for a foreign family member joining an Albanian citizen (spouse), you need to gather several important documents. Here’s a detailed guide to help you through the process:
Photocopy of Valid Travel Document: Ensure you have a clear photocopy of your valid passport or travel document.
Recent Photograph: You’ll need a photo taken within the last six months. The dimensions should be 47x36mm.
Evidence of Suitable Accommodation: Provide proof of suitable accommodation in Albania. This can be in the form of certificates or lease contracts of the apartment, ensuring it meets the housing standards in Albania.
Health Insurance Verification: Provide verification of health insurance coverage in Albania.
Identification of Albanian Inviter: Include a photocopy of the Albanian inviter’s (your spouse’s) identification document.
Marriage Certificate: Submit a marriage certificate from Albania or your country of origin. If it’s from your country of origin, it must be received within the last six months, legalized, translated, and notarized.
Opening a Bank Account in Albania
One of the most frequently asked questions by those looking to buy real estate in Albania is whether they can open a bank account. The answer is yes, but there are certain criteria and different methods to help you with the process.
Method 1: Owning a Property
The most common way to open a bank account in Albania is by owning property. If you have purchased an apartment, you can take your purchase contract or certificate of ownership along with your ID card to the bank. This will allow you to open an account for various purposes, such as furnishing your apartment, paying utility bills, or other personal needs.
Method 2: Through Residency Permit
The second way is through applying for a residency permit which I mentioned the process before. Once you have the documents of the residency permit, you can proceed smoothly with the application. The bank will also issue a debit card within 20 days of opening your account.
Healthcare benefits for the foreigners
Let me clarify something important about healthcare for those of you who are foreigners living in Albania. If you have a residency permit, you have the same access to public hospitals as Albanian citizens. This means that you can receive medical care at any public hospital across the country without any cost.
But here’s something even more reassuring, if you find yourself in an emergency and you don’t yet have a residency permit, you can still go to a public hospital for urgent care, and it’s completely free.
So, whether you’re a resident or just someone who’s here temporarily, Albania’s healthcare system has provisions to ensure you’re taken care of in critical situations.
Conclusion
Additionally, it’s crucial to understand the local benefits for foreigners in Albania that extend beyond residency and healthcare. The Albanian government has implemented various incentives to attract foreign investors, such as tax exemptions and simplified legal procedures for property acquisition. These measures are designed to make the investment process as smooth and rewarding as possible.
For instance, foreigners can benefit from favorable tax rates on rental income and capital gains, as well as exemptions from property transfer taxes in certain cases. These local benefits for foreigners in Albania significantly enhance the overall appeal of investing in the country, providing financial advantages and stability for long-term investors.
So it’s essential to consider not just the immediate logistics but also the broader local benefits for foreigners in Albania. These benefits ensure a supportive environment for your investment, promising a blend of economic and lifestyle advantages that make Albania a compelling destination for foreign investors.
