Bank Account Opening

Document preparation and coordination for opening a corporate bank account in Albania — the one step in company formation that isn’t fully remote.

The One Step That Isn’t Fully Remote

Company registration, tax setup, even most legal work can be handled entirely by email, call and power of attorney without ever traveling to Albania. Opening the corporate bank account is the consistent exception: Albanian banks apply standard KYC (Know Your Customer) procedures that generally require the company’s legal representative to appear in person at least once, to verify identity and sign account-opening documents. This isn’t specific to one bank or negotiable with the right paperwork — it’s standard practice across Albanian banking.

It’s also not optional to skip. A local bank account isn’t a nice-to-have: the tax authority may request statements during a review, e-invoicing and VAT reconciliation generally assume local account activity, and foreign e-money accounts like Revolut or Wise are not treated as a substitute for a company’s core operating account. Albania For Business Sh.p.k. prepares the documentation, manages bank liaison, and coordinates the single in-person visit so it’s efficient rather than an open-ended back-and-forth.

Why a Local Account Isn’t Optional

• The tax authority may request bank statements during a review, to reconcile against your e-invoicing records and declared transactions — foreign statements aren’t always accepted or straightforward to work with in that context.
• VAT and corporate tax filings assume a local operating account; running your business entirely through a foreign account creates a documentation gap that surfaces during any review.
• Revolut, Wise and similar e-money accounts are useful supplementary tools for international transfers, but are not generally treated as a standard banking option for an Albanian company’s core operations.
• Local suppliers, landlords and partners often expect payment through a recognised Albanian bank account as standard business practice.

What Requires Your Physical Presence

Everything up to this point can typically be handled remotely — company registration, tax setup, document preparation. The account-opening appointment itself is the exception: Albanian banks require the legal representative (usually the administrator) to appear in person for identity verification and to sign account-opening documents, in line with standard KYC procedure. This applies across Albanian banks generally, not to one institution in particular. Once the account is open, day-to-day banking can be managed entirely online from anywhere.

Choosing a Bank

• English-language service — how well the bank supports non-Albanian-speaking account holders, in branch and online.
• Online banking quality — whether you can realistically manage the account remotely after the initial visit.
• Fee structure — account maintenance fees, transfer costs (particularly international transfers), and any minimum balance requirements.
• Multi-currency support — relevant if you invoice or receive payments in EUR, USD or other currencies alongside ALL.
• Familiarity with foreign-owned companies — some banks have more developed processes for non-resident shareholders and directors than others.

Bank Account Opening, Step by Step

1. Bank selection & document preparation — we recommend a bank and prepare the application documentation.
2. Application submitted remotely — the initial application and supporting documents are submitted ahead of your visit.
3. Appointment scheduled — we coordinate a specific appointment time so your visit is efficient, not an open-ended wait.
4. In-person KYC visit & signing — you attend the bank in person to verify identity and sign account-opening documents.
5. Account activated — the bank confirms the account is open and provides access credentials.
6. Online banking & e-invoicing setup confirmed — we help set up online access and confirm the account is ready to integrate with your invoicing and accounting.

What We Need From You

• Your company’s registration certificate, NIPT and Articles of Association.
• Passport copies of all shareholders and the administrator.
• Proof of address for the administrator and significant shareholders.
• A description of your business activity and expected transaction volume/currencies.
• Your availability for the in-person appointment, so we can schedule it efficiently.

Fee Schedule — Additional & Ongoing Services

Beyond the fixed package above, the following services are priced individually. Your adviser confirms an exact quotation once your structure, nationality and banking preference are known.

Frequently Asked Questions