Financial Licensing in Albania

Most financial activities in Albania — banking, payment services, electronic money, lending, foreign exchange and several others — are generally subject to prior licensing or registration. The competent authority is in most cases the Bank of Albania, while certain market segments, such as securities and investment funds, fall under other supervisory authorities.

For founders and investors, the practical difficulty is rarely the principle of licensing itself; it is the file. Regulatory applications are document-heavy, and gaps or inconsistencies between corporate documents, business plan, capital evidence and internal policies are a frequent cause of delays and additional requests.

Andoni Law & Tax assists clients through the full licensing cycle: classification of the activity, structuring, preparation of the application, communication with the authority and the obligations that follow once the license is granted.

What This Service Covers

Depending on the project, our financial licensing work may include:

• regulatory classification of the planned activity and choice of the appropriate licensing route
• review of the corporate structure, shareholding and capital requirements
• preparation and legal review of the application file and business plan documentation
• suitability documentation for shareholders, beneficial owners and administrators
• drafting or reviewing internal policies, including AML/KYC and governance documents
• communication with the Bank of Albania or another competent authority during the examination
• post-licensing obligations, including reporting, notifications and changes that may require approval

When This Service Is Appropriate

This service is typically relevant when a client is:

• entering the Albanian market with an activity that may require a financial license
• unsure whether a business model triggers a licensing or registration requirement
• preparing an application, or responding to comments and document requests on a pending one
• acquiring or investing in a licensed institution, where changes in ownership may need approval
• extending an existing license to additional services or restructuring a licensed entity

Why Legal Support Matters

A licensing procedure is, at its core, an exercise in credibility. The authority reviews whether the applicant has the structure, capital, governance and controls to carry out the activity properly — and it reads the file as a whole. Documents drafted separately, without a coherent legal thread, tend to generate questions.

Early legal review also protects the timeline. Identifying the correct regime, the expected documents and the likely points of scrutiny before submission reduces the risk of the file being returned or the project being reworked mid-procedure.

Where the matter involves accounting, audit or technical questions, we coordinate with the client's other advisers rather than replacing them, so the file is consistent from every angle.

How We Work

1. We classify the activity

We review the business model and assess whether, and under which regime, the planned activity may require a license or registration in Albania.

2. We structure the applicant

We advise on corporate form, shareholding, capital and governance so that the applicant entity matches what the regulatory framework expects.

3. We prepare and file the application

We draft and review the application materials, policies and supporting documents, and address gaps before submission.

4. We follow the procedure

We assist with communication, clarifications and additional document requests until the authority's decision, where applicable.

5. We support life after licensing

We advise on reporting, notifications, changes requiring approval and other ongoing obligations of the licensed institution.

Frequently Asked Questions

Which activities require a financial license in Albania?

Banking, payment services, electronic money, lending, foreign exchange and several other activities are generally subject to licensing or registration, depending on how they are carried out. The business model should be reviewed before entering the market.

How long does a licensing procedure take?

There is no single answer: timing depends on the activity, the completeness of the file and the review of the competent authority. A realistic picture can be discussed after reviewing the project.

Can foreign shareholders own an Albanian licensed institution?

In many cases, yes, subject to the suitability and documentation requirements that apply to shareholders and beneficial owners under the relevant regime.

What documents does a license application usually involve?

Typically corporate documents, a business plan, capital evidence, governance arrangements, internal policies and suitability documentation, depending on the license. The exact list follows from the applicable regime.

What happens after the license is granted?

The institution assumes ongoing obligations, such as reporting, notifications and compliance duties, and certain changes may require prior approval. We help clients monitor and meet these obligations.

Need Help With Financial Licensing in Albania?

Contact Andoni Law & Tax to review your business model, the applicable licensing regime and the documents your project would need before approaching the competent authority.

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