Type of property. The law does not specify whether the property must be residential or commercial, new only or purchased on the secondary market. But if an investor were to obtain a residence permit for any other reason, such as starting a business, he would necessarily need to have housing in Albania.
Conditions for owning real estate. A residence permit for the purchase of real estate will be granted to investors who prove ownership of the property. The contract of sale is suitable for this. He is not required to be the sole owner of the property: a residence permit will be issued if the investor owns a minimum of 50% of the property.
The value of the property. The minimum amount of investment in real estate in order to obtain a residence permit is not specified in law. But such a requirement may arise in the future: the criteria and procedure for granting a residence permit by investment is set by the Council of Ministers of Albania.
Property prices in the resort areas of Albania increased by 200% between 2004 and 2014. But so far, Albanian properties remain among the most inexpensive in the Mediterranean region.
The cost of city apartments in Albania ranges from €570 to €2,500 per square metre. In the centre of the capital, Tirana, a square metre apartment costs on average €1,865 and in the resort town of Saranda €1,032.
€1,315
average price per square metre of apartments in Albania
Duration and renewal of the residence permit. For the purchase of the property, the investor will receive a residence permit card valid for one year.
1 year
duration of residence permit card in Albania
If the investor wishes to remain a resident of Albania, he or she can renew the residence card annually. In doing so, it is important that the investor continues to meet the conditions under which he or she received the residence card - that is, to remain a property owner in Albania. Whether the investor needs to live permanently in the country in order to maintain the residence permit is not specified.
The procedure for obtaining a residence permit for investors will be established by the Council of Ministers of Albania. It is not yet known whether it will be different from the process that other residence permit applicants go through, such as employment.
Standard procedure for obtaining a residence permit in Albania
1
Obtaining a long-stay type D visa
2
Opening of an Albanian bank account or proof of a stable source of income
3
Buying or renting housing in Albania
4
Payment of the state fee for an application for a residence permit
5
Submission of the application and documents to the Albanian Migration Service office
A type D visa is needed to enter Albania and stay in the country while the migration office processes the residence permit application.
If the applicant is not applying for a residence permit through employment, he/she opens an account in a local bank. The amount in the account should be sufficient for living in the country for the duration of the residence permit. A bank statement or pay slip must be attached to the application for a residence permit.
Having a registered address in Albania is a prerequisite for obtaining a residence permit. The address is indicated on the residence permit card.
The amount of the state fee depends on the reason for the residence permit and is about €80.
€80
State fee for applying for a residence permit
Apply to the Albanian Migration Service within 30 days from the date of entry into the country. Applications are accepted online. The application form must be accompanied by scans of:
Passport including the visa page;
contract of sale or lease of real estate;
bank statement or pay slip;
certificate of no criminal record;
proof of the reason for a long-term stay, e.g. an employment or academic contract;
receipts for payment of state fees.
If the documents are submitted in full, the Migration Board arranges a date for a personal visit to the office where the applicant is registered. During the personal visit, the applicant confirms his/her identity and submits the original documents. A decision on the application is made within one month of the date of online submission.
Up to 1 month
the time it takes to process a residence permit application
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