What is the National Registration Center?
A new law on registration was approved by the Albanian government in 2007. Law No. 9723 “On the National Registration Center” sets the National Registration Center (NRC) as a new public institution. This is considered one of the most important business reform taken by the Albanian govern in the last decade.
The main characteristic of the NRC is that it concentrates all the registration related issues (including work inspectorate, healthcare and social security, tax registration, and the National Statistics Institute).
The law regarding NCR adapts perfectly to the EU legislation, making it easily accessible to foreign investors.
All these procedures improve and simplify the entry of new investors in the Albanian market.
How can a company register at the National Registration Center?
Before starting a business, the name of the company must be checked at NCR for availability. If the name is available, a certificate of reservation is issued that day.
By law, businesses must apply for initial recording within 15 days before starting the business and another registering application within 30 days from the beginning of activity.
The company registration in Albania is performed by submitting an application along with other requested documents at the NRC’s office in Tirana or any other official office located in the country.
The documents that must be submitted at the registration are: the standard application form (can be downloaded electronically from the website), the articles of association (the name of the company, type of business, the shareholder, the initial capital, headquarter, managers’ names), the company’s management decision regarding establishment, documents proving the capital payment (if requested).
For a branch, the requested papers are: the application form, documents regarding the parent-company (articles of association, registration documents, the audit of the financial situation, a document issued within 90 days regarding the status of the company), the name of the branch administrator and if the representatives are not in Albania, a power of attorney designating a third party to handle the registration.
How can we check the information from the National Registration Center?
The National Registration Center is proving information regarding the commercial climate through the Electronic Commercial Registry, a database with information for entrepreneurs, foreign investors and institutions. Being centralized, it is very easy to get the information no matter where the requester is demanding it from.