New law for the registration of businesses

TIRANA, March.20 – The Minister of Economics, Trade and Energy, Genc Ruli has headed today the meeting of the Consultative Council of Business which discussed the new law on Business Registration approved by the government on March 14. The new law predict the founding of a National registration center (QKR) as a central institution and a judicial entity under the jurisdiction of the Ministry. The initiative is supported by the project on Millennium Challenge from USAID.
‘One-stop-shop’. QKR will offer the “one-stop-shop” solution for registration purposes. Business will have one comprehensive database The Trade Register, which will be available in electronic format. QKR will be the only place that business will refer to with their data, and will complete registration at the level of municipality and taxation paperwork. It will also complete the paperwork for Social Insurance, health insurance, registration with the State labor Authority and the Statistics Institute.
Electronic registration: QKR will offer maximum capacity for the registration of businesses in the electronic way. The main database, the Trade register wil be available in the Internet as well. QKR will ecourage online registration procedures and make documents public in the website for public interest.
Country wide application : QKR, being the unique database and service center for the purpose will have branches throughout the country. Businesses will be able to get service in the office closer to them. The database system will be centralized.
Benefits to the business community: The new law that includes the foundation of the QKR transforms the business registration process from a long and tedious bureaucratic hassle to a simple one step procedure. All the interfering institutions from the judicial system are thus banned form prolonging the procedure. The simple procedure will also lower significantly the cost associated with the startup of an activity boosting thus the business sector in Albania. Another beneficial practise is the aboltion of the rule that licenses have tobe acquired prior to the registrtion. Now it will be allowed for new activities to be registered first.