Lately, among the most popular states for foreign entrepreneurs starting a new business outside their homeland is definitely Albania – the country where the word crisis is not included in the vocabulary. The recent acceptance of the candidacy for becoming a member state of the European Union has done nothing but good to Albania that while meeting Brussel’s expectations have improved the lives of citizens, brought more democracy and much-needed rules. Clearly, the economy is today still in the process of development. Until a few years ago, the GDP was increasing by 7 percentage points per year, in 2014, however, the International Monetary Fund marked some troubles in the internal market. Until today nonetheless, the GDP has increased of additional 2%.
The change can be explained with Albania ushering a new era of efficient reforms that are furthermore becoming more and more interesting for investors and entrepreneurs wishing to start a new business abroad.
The current Prime Minister, Edi Rama, has shaken things up in Albania by implementing numerous important reforms that have contributed positively to the establishment of a sustainable development model, mostly thanks to the fiscal consolidation that is firmly taking the country closer to the fulfillment of conditions required for the accession to the European Union.
Albania offers advantageous conditions for entrepreneurs that would like to expand their existing business or start a new one abroad. The workforce is available at lower prices and the tax rates are significantly lower compared to the rest of Europe. The flat tax rate is of 15%, while the social security contributions paid by the employers for their employees are minuscule.
Among the most economically developed sectors is definitely agriculture, since Albania is rich in natural resource. Moreover, the construction industry is still growing, while on the coast the developing tourism offers great real estates deals at accessible prices.
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