Home International Business • Albania's Business Environment by Gmb Publishing, George Curmi

Albania's Business Environment by Gmb Publishing, George Curmi

By Gmb Publishing, George Curmi

This can be the 1st authoritative consultant to the customers for enterprise and funding in Albania. It exhibits how this small eu nation is commencing up for enterprise having lately bolstered its ties with the ecu via a Stabilization and organization contract. Macroeconomic functionality has more suitable sharply lately, because of guidelines lower than IMF-backed programmes, prompting new curiosity from the overseas company group.

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28 Legal and Regulatory Framework Requirements for branches and representative offices of foreign companies In addition to the mandatory data for registration of commercial companies listed above, in order to register a branch or representative office of a foreign company, the following data is required from the parent company: (a) value of the foreign company’s capital; (b) name of the branch or representative office, if different from the parent company; (c) duration of the branch or representative office, if it is determined; (d) object of activity of the branch or representative office, if it is determined; (e) registered office of the branch or representative office; (f) proof of identity of the persons responsible for the administration and representation of the branch or representative office in relation to third parties, their representation competences and terms of office; and (g) specimen signatures of the persons representing the branch or representative office before third parties.

By doing so, the parties to the joint venture agreement serve their common economic goal by carrying out their activities through the participating entities. Generally, each party contributes assets and shares risks. Like a partnership, joint ventures can involve any type of business transaction and the persons involved can be individuals, groups of individuals, companies or corporations. Bearing the above in mind, it is necessary to emphasize that the law does not contain any provisions specifically relating to the establishment of joint ventures and so they are not specifically regulated as such.

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.

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