Albania Citizenship by Investment program is one of the most anticipated options for investors. The country is becoming an increasingly attractive destination for those looking to invest and obtain Albanian citizenship.
As a developing nation, Albania’s economy is growing, and a vibrant young generation is emerging. The country offers some of the best opportunities for investors. From this perspective, investors can acquire citizenship or residency in Albania while also making a valuable investment in the country’s future.
Albania Citizenship by investment 2024
The government of Albania announced Albania citizenship by investment program in July 2022, it was expected to grant citizenship through investment for those investors who investing in Albanian companies and real estate.
The program was announced for schedule but unfortunately in final this program canceled before to start. The president of Albania announced that Albania citizenship by investment program is cancelled.
Albania Citizenship by investment program was cancelled from the continues pressure and even threat from European union. The European union theat Albania that if the country start Albania citizenship by investment program Albania will lost visa free access to Schengen.
Albania decided to keep it’s relationship good with European union and keep the visa free access to European union countries and announced that the Albania citizenship by investment program is cancelled.
Albania Residence by Investment
The Albanian citizenship by investment program was canceled due to requests and pressure from the European Union. However, the Albanian government has developed an alternative option for investors. Albania now offers a residence option for investors, which can eventually lead to citizenship.
If you are an investor, you can once again live in Albania permanently if you meet the investment criteria set by the government. Investors will first obtain an investor visa for Albania. Upon arriving in Albania, they will need to apply for a residence permit, which grants them the right to live and run their businesses in the country.
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Initially, investors are issued a one-year residence permit, which can be renewed annually. After residing or working in Albania for five years, you can apply for permanent residence or citizenship.
This Investor Residence Permit provides a pathway to Albanian citizenship. Although the process takes time, during this period you will be able to live, work, and run your business in Albania, with multiple entries and exits permitted. You can also bring your family members, such as your spouse and children, and after five years of residing in Albania, you and your family will become eligible to apply for Albanian citizenship.
Where to invest in Albania?
You may be wondering where and how you can invest and start your business in Albania to become eligible for a residence permit. There are several options available for investing in Albania that can help you obtain a residence permit.
Investment in Real Estate
One option for obtaining a residence permit in Albania is through investment in real estate. You can purchase a property, and once you have ownership, you can apply for a residence permit. Albanian law is quite accommodating, allowing you to apply for a residence permit even if you own only 50% of the property.
Albania has investor-friendly policies for those looking to relocate with a business or start-up mindset. When purchasing property, there is no minimum value required by law. You can buy any property, as long as it is livable and suits an investor or business profile.
To begin, you should apply for an Albania D-type visa. After obtaining this visa, you can enter Albania. Once there, you will need to open a bank account, which will be used to provide proof of funds and income during your stay in Albania. For more information on the Albania D-type visa, you can find details here: Albania D-Type Visa.
After arriving in Albania with this visa, you must apply for a residence permit within 30 days. During this time, you can also complete your property purchase.
Investment in Company
If you are not interested in real estate investment, there are other options such as direct investment, investing in Albanian companies, or creating and registering your own company in Albania.
When you are ready to invest, the current focus is on creating jobs in Albania or making significant functional investments directly through funds.
To successfully obtain an Investor Visa and residence permit, it is important to make a meaningful investment, which should be at least $100,000. If you want to learn more about fund investments in Albania, you can find more information at Golden Investor Visa.
Frequently Asked Questions
Here are answers of some frequently Asked questions about Albania citizenship by investment or Albania residence by investment:
Can I get residency in Albania if I buy a house?
Yes, Albanian regulations allow foreigners to purchase property in Albania with 100% ownership and obtain a residence permit based on their property, whether it is a house or an apartment.
Is Albania a good place to invest in property?
Albania in 2024 is an attractive destination for property investment due to its affordable real estate, 100% foreign ownership laws, and the potential for residence permits through property purchases.
Growing tourism, infrastructure development, and possible EU membership could boost future property values, though investors should exercise caution and perform due diligence in this still-developing market.
How can I get Albanian citizenship?
You need to move to Albania legally, you will to invest and start your business or find a job after living 5 years legally in Albania you can apply for Albania citizenship.
How strong is the Albania passport?
One of the most frequently asked questions by those seeking Albanian citizenship is about the strength of the Albanian passport. While it may not rank at the top, it is still a strong passport, allowing visa-free access to European Union countries.
You can also travel visa-free to most Latin American countries. The Albanian passport ranks 46th globally, providing visa-free access to 126 countries, including the Schengen area.
How long does it take to obtain citizenship in Albania?
It can take up to 5 years to become eligible for Albanian citizenship. However, if you are married to an Albanian national, it will take 3 years.