But this republic is interesting to foreigners not only in terms of recreation but also as a permanent place of residence, so potential immigrants need to know about all the features associated with living in this country.
The standard of living in Albania today is increasing mainly due to the development of tourism. To attract more foreign tourists, Albania has allowed visa-free entry to its territory for citizens of many countries. In addition to the development of the tourism sector, numerous government reforms aimed at combating corruption and the prosperity of the economy also affect the improvement of the country’s living standards.
Work in Albania
Albania has a relatively low level of economic development, so foreigners visit this country more often for recreation than for employment. However, if you intend to find a job in Albania, it is best to look for vacancies in the tourism sector. If you know English, then you can easily get a job as a guide, translator, or animator. But if the tourism sector is of little interest to you, then for employment in other industries you will need knowledge of the Albanian language. The Albanian government is interested in attracting professionals in the field of energy, oil and gas industry, marketing, healthcare, IT, as well as specialists in the development of infrastructure and transport links.
Medicine in Albania is free for Albanians, but for foreigners, this can only be the provision of first aid. You will have to pay for the rest of the medical services. Treatment in state medical institutions is carried out at a rather low level, mainly due to the lack of a sufficient amount of modern equipment, drugs, and qualified specialists. The equipment in Albanian hospitals is outdated. In addition to free state clinics, there are also private clinics in the country. There are few of them, but the level of provision of medical services in them is much higher.
The Albanian government is on a course to improve the health care system. Health insurance has made it better funded. Besides, pharmacies are gradually acquiring more modern medicines, which, thanks to subsidies, can also be purchased by the poor.
The most popular universities in Albania are located in the capital of the country, Tirana. The University of Tirana is considered the best of these, followed by the Polytechnic University of Tirana and the Agricultural University of Tirana. Those wishing to study in English can also enter the
Canadian Institute of Technology or New York University. In these two educational institutions, students are trained in innovative programs that provide students with a high level of knowledge in the business field.
Doing business in Albania is not difficult. Foreigners who want to open their enterprise in the territory of this country are not hindered by anything – it is enough to submit an application to the Commercial
Register and register the company with the tax service, and then receive documents for doing business. Based on entrepreneurial activity, you can freely obtain a residence permit, but this is not the only way.
To obtain a residence permit, it is not necessary to open your own business – it is enough to invest a certain amount in one of the projects proposed by the Albanian government.
The tax system in Albania
The standard VAT rate is 20%, while pharmaceuticals are exempt from value-added tax.
Corporations with an annual turnover of at least 8 million leks (60,000 euros) are subject to corporate income tax at a rate of 15%, with an annual turnover of 5 to 8 million (from 37,500 to 60,000 euros) – at a rate of 5%, with an annual turnover of up to 5 million (37,500 euros) – exempt from this tax.
Personal income tax is levied at a progressive rate: no tax is levied on income up to 30,000 lek (225 euros), 13% on income from 30,001 lek (225.1 euros) to 130,000 lek (975 euros), over 130,000 lek (975 euros) – 23% + 13,000 lek (97.5 euros).
Customs duties are charged at rates ranging from 0% to 15% depending on the product. The tax is mandatory for the import of tobacco, alcohol, cigarettes, fireworks, pneumatic tires, oil by-products, plastic, and glass goods.
Social security system
Albania’s social policy is social security and health insurance, which together form the Social Security and Health Contribution scheme (SHC).
The social sphere of Albania operates at the expense of social security and health contributions, which are mandatory for all economically active persons with permanent residence in Albania, including employed, self-employed, unpaid family workers, and other economically active persons.
Top 7 Benefits of Life in Albania
- Low in comparison with other European countries prices for food, goods, services, real estate, and life in general;
- the gradual development of the economy, infrastructure, health care, and social services;
- the government of Albania wants to join the EU, therefore it is constantly taking measures to improve the situation in the country following the recommendations of the European Commission;
- the natural conditions of Albania attract a lot of tourists who dream of relaxing on the Adriatic coast;
- the climate in the country pleases with warm sunny weather from April to November, the swimming season begins in May, although some swim in April;
- the opportunity to obtain a residence permit for investment;
- easy procedure for opening your own business for foreign citizens.