TIRANA, June 27 – Albania is toughening rules on foreign investors to obtain permanent residency in the country but making it easier for foreign companies to transfer staff to Albania.
A draft law approved by the government and pending to receive the final okay in Parliament, has increased the amount of investment for the immediate granting of permanent residency to foreign investors to at least €2 million and the number of jobs created to 100. Under the current law, investors are required to invest at least €1 million and hire ten people in order to be granted a permanent residence permit.
However, the new bill makes it easier for foreign companies to transfer managers, specialists and internships to their Albanian subsidiaries by easing working permit procedures.
The changes also allow independent foreign professionals to obtain working permits to offer their services in the country for up to 12 months.
Turkish citizens dominate registered foreign workers in Albania accounting for half of them, according to study published by Open Data Albania research center.
The study, which refers to data published by the National Employment Service, shows there were some 1,068 Turkish workers in Albania at the end of 2014, making up 52 percent of total number of foreigners working in Albania.
Second rank the Chinese with 246 workers mostly working in the mining and trade sectors, followed by Canadians with 164 workers the majority of whom working for Canada-based Bankers Petroleum, the country’s biggest oil production company.
There were some 82 Kosovars working in Albania, 62 Macedonians and 41 Serbs at the end of 2014. The majority 29 percent of foreigners in Albania work in the construction industry, followed by trade and services with 14 percent respectively, and the processing industry with 12 percent.
The National Employment Service reported the overwhelming 1,828 foreigners were employees, compared to 41 investors and 185 self-employed ones.
