A limited liability company (LLC) is the most common legal form of conducting business in Albania. The LLC is registered as a separate legal person. It can be established by one or more individuals or legal entities. Normally, the shareholders are liable for the debts and losses of the company only to the extent of their contribution to the capital.
To establish an LLC in Albania, the minimum required capital is ALL 100 or approximately EUR 1. The contributions to the capital of the company can be made in cash or in kind. No payment of shares is required at the moment of establishment and registration of an LLC with the Albanian Commercial Register. An LLC can not offer its shares to the public.
The company is managed by the administrator(s), who are nominated by the General Assembly of shareholders for a period of no more than 5 years, with the right of renewal. There are no restrictions on the number of administrators that might be appointed by the General Assembly, nor are there limitations for their citizenship. However, only individuals (Natural persons) can be appointed as administrators of the LLC.