By Vangjel Dhimo on February 25th, 2023
WHAT IS THE DIFFERENCE BETWEEN NON-RESIDENTS AND LOCALS IN SARANDA?
Anyone purchasing real estate in Saranda, Albania whether as a first or second home, is not subject to taxes, regardless of whether they are a non-resident or tax resident. Even if they obtain a residence permit, they have all of the same rights as Albanians and are not subject to any taxes.
To open a bank account in Saranda, Albania, you must satisfy one of the following conditions: either be the owner of a legally acquired real estate property with all necessary legal documents, including a certificate of ownership, or possess a rental or business contract for a minimum duration of one year. Fulfilling either of these criteria grants you the same banking rights as local residents.
Non-resident individuals are taxed only on income generated only in the territory of Albania which is subject to 15% of the rental income for example.
QUESTIONS AND ANSWERS
HOW MUCH IS THE PROPERTY TAX IN ALBANIA?
According to the Albanian tax authorities, a property’s estimated monetary value is its tax-assessed value and it is 0.065% per year.
