By Gmb Publishing, George Curmi
This can be the 1st authoritative advisor to the clients for company and funding in Albania. It indicates how this small eu nation is starting up for enterprise having lately reinforced its ties with the european via a Stabilization and organization contract. Macroeconomic functionality has greater sharply lately, due to guidelines lower than IMF-backed programmes, prompting new curiosity from the foreign enterprise neighborhood.
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Additional info for Albania's Business Environment
18 Background to the Market Marketing and advertising The marketing and advertising sector has been developing steadily in Albania, although it is still in its infancy when compared to the rest of Europe. Numerous highly professional domestic and international companies operate in this area, including Ogilvy. Most of them have a diverse and rich client portfolio. Although international companies make up a clear majority of clients in this area, domestic companies are appreciating the clear advantages offered by the advertising industry to promote their products and are rapidly gaining ground too.
24 Legal and Regulatory Framework Foreign business The Company Law does not impose any restrictions on foreign companies, whether the foreign company is the sole or one of the founding shareholders of an Albanian company, or whether it acquires shares in an existing company established and organized under Albanian law. Notwithstanding the above, there are some laws which govern specific areas of activity that restrict the right of either an Albanian or a foreign shareholder to hold a certain percentage of shares in a commercial company.
34 Legal and Regulatory Framework Right to be informed and to seek information Shareholders are entitled to be notified and are able to vote in respect of major corporate changes, such as an amendment to the statutes of the company, issue of additional shares, merger or reorganization of the company, winding up or voluntary liquidation. The law requires that shareholders be given at least seven (for limited liability companies) or 21 (for joint-stock companies) days’ prior notice of the scheduled shareholders’ meeting, either through registered mail or e-mail or national newspaper if the company has a large number of shareholders.
Albania's Business Environment by Gmb Publishing, George Curmi