Open a Business Bank Account in Albania

Published on October 4, 2025 and written by Cyril Jarnias

Albania, a country experiencing robust economic growth, is increasingly attracting foreign entrepreneurs looking to expand their operations there. Opening a corporate bank account is a crucial step to starting your business in this Balkan nation. This article will guide you through the various steps of the process, the required documents, and introduce you to the main Albanian banks and their respective advantages.

Keys to Opening Your Business Bank Account in Albania

Opening a corporate bank account in Albania might seem complex for a foreign entrepreneur, but with the right information and adequate preparation, the process can be relatively straightforward. The first step is to choose the bank that best fits your needs. It’s recommended to compare offers from several banking institutions, taking into account fees, services offered, and geographic presence.

Once you’ve made your choice, you’ll need to schedule an appointment with an advisor at your selected bank. During this appointment, you’ll need to present all documents required to open the account. It’s important to note that most Albanian banks require the legal representative of the company to be physically present for account opening.

The opening process can take anywhere from a few days to several weeks, depending on the complexity of your case and the bank’s processing speed. Once the account is opened, you’ll typically receive your banking credentials and professional debit or credit card within one to two weeks.

The Winning File: Essential Documents for Opening Your Account

To open a corporate bank account in Albania, you’ll need to provide several documents. The exact list may vary slightly from bank to bank, but here are the generally required documents:

• Company registration certificate from the National Business Center (QKB)
• Company statutes
• Tax identification number (NIPT)
• Legal representative’s identification document (passport for foreigners)
• Proof of company address in Albania
• Minutes of the decision to open the bank account
• Legal representative’s signature specimen

It’s crucial to note that all these documents must be translated into Albanian by a certified translator if they’re in a foreign language. Additionally, some documents may require an apostille or legalization, depending on their country of origin.

For foreign companies looking to open a subsidiary or branch in Albania, additional documents may be required, such as:

• Certificate of good standing of the parent company
• Proof of legal existence of the company in its home country
• Board of directors’ authorization for opening an account in Albania

It’s highly recommended to prepare all these documents in advance and have them verified by a local lawyer or accountant familiar with Albanian requirements. This will help you avoid unnecessary delays in the account opening process.

From Theory to Practice: Steps to Create Your Bank Account

The process of opening a corporate bank account in Albania typically unfolds in several steps:

1. Bank selection: Research and compare offers from different Albanian banks. Consider fees, services offered, and geographic presence.

2. Scheduling an appointment: Contact your chosen bank to schedule a meeting with a business advisor. Some banks offer online or phone appointments for initial assessment.

3. File preparation: Gather all necessary documents mentioned previously. Ensure they are complete, up-to-date, and translated if necessary.

4. Meeting with the advisor: During the appointment, present your business project and provide all requested documents. The advisor will ask questions about your activity, financial projections, and origin of funds.

5. File verification: The bank will conduct a thorough verification of your file and documents. This step can take several days, or even weeks for complex cases.

6. Approval and contract signing: Once your file is approved, you’ll be invited to sign the account opening contract and various banking documents.

7. Account activation: After signing, your account will be activated. You’ll receive your banking credentials, along with your professional bank card.

It’s important to note that some Albanian banks may require a minimum initial deposit to open a corporate account. This amount typically ranges between 500 and 5000 euros, depending on the bank and type of account chosen.

Albanian Banking Giants: Advantages and Specifics

Albania has several important banks offering services to businesses. Here’s an overview of the main banks and their advantages:

1. Raiffeisen Bank Albania

• An extensive network of branches and ATMs
• Advanced online banking services
• Expertise in SME financing

Key advantage: Raiffeisen Bank offers special packages for startups and small businesses, with reduced fees during the first year of operation.

2. Banka Kombëtare Tregtare (BKT)

• Strong national and international presence
• Investment banking services
• Multilingual support (Albanian, English, Italian)

Key advantage: BKT has a dedicated unit for international clients, facilitating account opening for foreign businesses.

3. Tirana Bank

• Flexible financing solutions for businesses
• Customer service known for its quality
• Innovative banking products

Key advantage: Tirana Bank is known for its speed in processing account opening and credit applications for businesses.

4. Credins Bank

• Deep knowledge of the local market
• Focus on Albanian SMEs
• Partnerships with international financial institutions

Key advantage: Credins Bank offers customized solutions for businesses operating in specific sectors of the Albanian economy, such as agriculture or tourism.

5. Alpha Bank Albania

• Expertise in international trade
• Advanced treasury services
• International network facilitating cross-border operations

Key advantage: Alpha Bank Albania is particularly suitable for businesses with activities in the Balkan region and Greece.

It’s crucial to carefully compare offers from these banks based on your specific needs. Some may offer particular advantages depending on your industry or company size. Don’t hesitate to schedule appointments with multiple banks to discuss your project and obtain detailed proposals.

Navigating the Albanian Banking System: Expert Tips

Opening and managing a corporate bank account in Albania can present certain challenges, particularly for foreign entrepreneurs. Here are some expert tips to help you effectively navigate the Albanian banking system:

1. Master the language: Although many banks have English-speaking staff, proficiency in Albanian can greatly facilitate your procedures. If you don’t speak the language, consider hiring a professional interpreter for your important banking appointments.

2. Understand regulations: Familiarize yourself with Albanian banking regulations, particularly those concerning international transactions and reporting requirements. The Bank of Albania regularly publishes information about this on its website.

3. Anticipate timelines: Banking procedures in Albania can sometimes be slower than in other European countries. Allow sufficient time for opening your account and various banking operations.

4. Use online services: Most major Albanian banks offer robust online banking services. Familiarize yourself with these platforms to efficiently manage your daily operations.

5. Build a relationship: Establish a good relationship with your banking advisor. Regular communication can help you quickly resolve potential problems and obtain better conditions for your banking services.

It’s also important to note that the Albanian banking system has seen significant improvements in recent years. Albania is working to align its banking practices with European standards, resulting in greater stability and better service quality for businesses.

Conclusion: Your Springboard to Entrepreneurial Success in Albania

Opening a corporate bank account in Albania is a crucial step for any entrepreneur looking to establish themselves in this growing market. Although the process might seem complex at first, careful preparation and a clear understanding of requirements will help you effectively navigate the Albanian banking system.

Albania offers an increasingly favorable environment for foreign businesses, with a constantly improving banking sector and attractive economic opportunities. By choosing the right bank and following the advice provided in this article, you’ll lay solid foundations for your company’s success in this dynamic Balkan country.

Remember that every business situation is unique. It’s always recommended to consult local experts, such as lawyers or accountants specializing in international business, to obtain personalized advice tailored to your specific situation.