The initial registration of a business is one of the most important decisions an entrepreneur must make. It is a process that is accompanied by information about the consequences of registration, added obligations, responsibilities but also endless opportunities to succeed.
In a simplified way, the steps that businesses must follow; are as follows:
1-Opening a business account on the e-Albania government portal.
This is also the first necessary step to be able to access other online services.
2- Opening of the tax account
This process is also necessary, in the part of tax procedures. Periodic tax declarations, the addition and removal of employees and the general administration of your responsibilities as a tax payer will be administered from there.
3- Opening a bank account
In order to have the possibility of making payments on behalf of the business and the expected receipts to the business, the current bank account/s must also be opened on behalf of the business.
4- Fiscalization
The fiscalization process is one of the most positive steps and the most important decisions of 2021. Now every entity in Albania, which accepts and issues invoices, is obliged to adapt its invoicing system. This process is associated with unknowns and is often treated as an obstacle for businesses, due to lack of understanding or increased cost. In fact, this is a completely normal process, quite positive and that would definitely happen, as part of the technological developments in this field.
5- Application to the Register of Beneficial Owners
One of the points of the initial procedure that we must follow is the application for the initial registration of the Beneficial Owners. The issue is a bit sensitive, but nothing to worry about, because it is associated with the submission of documentation, deadlines and penalties, in case of exceeding these deadlines.
