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TIRANA, Oct.25 – Sources from the Prime Minister’s office have clarified that the banking sector is not subject of the “One euro” initiative. Furthermore, the initial capital requirement for foreign banks by BoA has been increased from 5 million Euro to 7 million Euro. The banking sector is regulated by a specific law which is relevant to the financial market.
The “One euro” initiative is the latest program launched by Prime Minister Berisha to attract foreign investment to the country. It comprises an extensive facilitated set of rules about the opening up of new activities in Albania. The initiative has gotten its name from the amount of initial tax that foreign businesses have to pay and that according to Berisha is only one Euro.
