Initial registration of beneficial owners

• Log in to the e-Albania portal
• Select the relevant service according to the form of the company you are going to register
• Click the "Use" button
• Fill in the electronic form with the necessary data on the form of the company you are going to register, as well as the data of the beneficial owners (Identification of the beneficial owners in accordance with the legal provisions)
• Upload the necessary documentation
• Click the "Send" button on the last page of the form
• Click the "Send signature code" button (The person authorized to complete the application must be equipped with an electronic signature)
• After the applicant enters the signature code, he gives the command "Sign"
• The application is reviewed by the authorized officer of the National Business Center, in accordance with the law and by-laws in force.
• After reviewing the application, the relevant decision is made (Approval/Suspension/Rejection)
• The decision on the application is sent by e-mail automatically by the system and to the “My Documents” section in “My Space”.
• Once the application is approved, the data is reflected in the Beneficial Owners Register

Reporting entities are obliged to maintain appropriate, accurate and up-to-date data and accompanying documents, based on which the beneficial owners of the entity and the type of control of their beneficial owners are determined, as well as to attach as accompanying documentation in electronic format, the following acts:

• documentation that confirms the unique identification number and name of the reporting entity, as well as the date of registration of the entity in the relevant register
• documentation that confirms the identification data of the beneficial owner (according to point 3.2.1, article 4, of the law on the beneficial owners register)
• documentation from the competent registration authority, which confirms that the registered beneficial owner is the owner of 25 (twenty-five) % or more of the shares/quotas of capital, voting rights or ownership interests, as well as containing the date of determination as beneficial owner
• any other documentation possessed by the reporting entity for the identification and registration of its beneficial owner, according to the law on the register of beneficial owners, including the date of determination as beneficial owner, if this information does not result in the aforementioned documentation.

In the case of a request for the initial registration of beneficial owners of reporting entities, which are registered in the commercial register, the request is submitted by the person authorized to represent the reporting entity, according to the procedures provided for by the legislation regulating the procedures for the initial registration of a legal entity in the commercial register. In these cases, the same documentation required under the above provisions shall be submitted, with the exception of the documentation certifying the unique identification number, together with the date of registration of the entity in the commercial register, as well as the extract of the registered data of the reporting entity, issued under the relevant legislation regulating the procedures for registration in the commercial register.

Registration by reporting entities of data on beneficial owners in the Register of Beneficial Owners is carried out in accordance with the following deadlines:

• in cases of initial registration of beneficial owners by reporting entities, which are registered in the commercial register, registration is carried out simultaneously with the application for registration of the legal entity in the commercial register
• in cases of rejection of the application for initial registration of beneficial owners by reporting entities, which are registered in the commercial register with indirect ownership, registration is carried out within 40 (forty) calendar days from the date of rejection of the application
• in cases of initial registration of beneficial owners by reporting entities, which are registered in the register of non-profit organizations, registration is carried out within 40 (forty) calendar days from the date of registration of the reporting entities as a legal entity
• Reporting entities registered in the Commercial Register with indirect ownership, as well as reporting entities registered in the Register of Organizations, Non-profit organizations, which on the date of entry into force of this law have not fulfilled the obligation related to the initial registration of their beneficial owners, as well as changes to the registered data of beneficial owners, should fulfill these obligations by 30.6.2022.

• Application for initial registration in the Commercial Register and the Register of Beneficial Owners for general partnerships, limited partnerships, limited liability partnerships and simple partnerships
• Application for initial registration in the Commercial Register and the Register of Beneficial Owners of joint stock companies (JSC)
• Application for initial registration in the Commercial Register and the Register of Beneficial Owners for branches or representative offices of foreign companies
• Application for initial registration in the Beneficial Owners Registry