Nikolai Timofejev
15 years in FinTech and payments. Maps your business model to the right licence scope and leads the file all the way to the Bank of Albania licence, including banking and payment rails.
Get a payment license in Albania.
Albania wrote a PSD2-style payment services law in 2020, Law 55/2020, in force since January 2021, and the Bank of Albania followed with Regulation 59/2021 on licensing. A payment institution needs ALL 2.5 million, 6.5 million or 16 million of capital by service, an e-money institution ALL 45 million; the central bank decides within three months of the application and charges ALL 30,000 to file. Corporate tax is 15%, and a draft law now before the country would move the capital tiers to euros.
27 yrs
on the international marketon the market
60+
in-house specialistsspecialists
400+
Licenses obtainedlicenses obtained
Updated
Albania in brief
A three-month clock in the law, capital in lek, and a fee of ALL 30,000.
Law 55/2020 on payment services follows PSD2's structure: a service list, payment institutions licensed by the Bank of Albania, registered account-information and initiation providers, agents notified and entered in a register within two months under Article 21. Article 14 gives the central bank three months from receipt of the application to grant or refuse, and Regulation 59/2021 of 24 November 2021, in force from 1 January 2022, adds the mechanics: a completeness notice within 30 business days, a procedure that lapses if the file is not completed within six months, and an application fee of ALL 30,000 under Article 10. Article 5 of the regulation sets the capital: a payment institution needs ALL 2.5 million if it only remits money, ALL 6.5 million if it only initiates payments and ALL 16 million for the account-based services; an e-money institution, licensed under the banking law and the same regulation, needs ALL 45 million.
Client funds cannot be commingled with the institution's own: Article 12 of the law puts them on a separate bank account or in secure, liquid, low-risk assets, or behind an insurance policy. Professional indemnity for initiation and account-information services follows the Bank of Albania's Guideline 1/2022, and operational risk follows Regulation 51/2024, which applies to banks, payment institutions and EMIs alike. Two things are still moving. Albania has no domestic instant-payment rail yet; in January 2025 the central bank signed a letter of intent with the Banca d'Italia for a Western Balkans system on the TIPS model. And a draft law published by the Bank of Albania would bring e-money institutions under Law 55/2020 and restate the payment institution's capital in euros - EUR 20,000, 50,000 and 125,000 - with own-funds methods A, B and C. Tax is 15% on profit, 8% on dividends, 20% VAT, in a country of 2.3 million people. We run the file from Budapest; plan on six to nine months.
Law 55/2020 (in force January 2021) and Regulation 59/2021: a payment institution needs ALL 2.5M / 6.5M / 16M by service, an EMI ALL 45M (Reg. Art. 5). The Bank of Albania decides within three months (Law Art. 14); completeness notice in 30 business days; fee ALL 30,000 (Reg. Art. 10).
Client funds on a separate bank account (Law Art. 12). No passport; draft law would move capital to euros. 15% tax, dividends 8%, VAT 20%. Six to nine months realistic. We run it from Budapest.
The routes
Payment institution or e-money institution - both licensed by the Bank of Albania.
Two licences under two statutes and one regulation: the payment institution under Law 55/2020, and the e-money institution under the banking law with Regulation 59/2021 setting its capital. We fix the route first, then build once.
Payment institution under Law 55/2020 - e-money institution on ALL 45M.
01 - PAYMENT INSTITUTION
Institucion pagese
A licence from the Bank of Albania under Articles 13 and 14 of Law 55/2020 for the payment services of the act - ALL 2.5 million, 6.5 million or 16 million of capital by service under Article 5 of Regulation 59/2021, a three-month decision, an ALL 30,000 fee and agents registered within two months.
A licence from the Bank of Albania under Articles 13 and 14 of Law 55/2020 for the payment services of the act - ALL 2.5 million, 6.5 million or 16 million of capital by service under Article 5 of Regulation 59/2021, a three-month decision, an ALL 30,000 fee and agents registered within two months.
- ✓Transfers, accounts, acquiring, initiation, account information
- ✓Capital ALL 2.5M / 6.5M / 16M by service (Reg. 59/2021 Art. 5)
- ✓Decision within 3 months (Law Art. 14(1))
- ✓Application fee ALL 30,000 (Reg. Art. 10)
- ✓Client funds on a separate bank account (Law Art. 12)
- ✓Limited-activity PI available under Article 27
02 - E-MONEY INSTITUTION
EMI - ALL 45MInstitucion i parasë elektronike
A licence to issue electronic money and provide payment services alongside it - ALL 45 million of capital under Article 5 of Regulation 59/2021, the same three-month decision and fee, and the funds behind the e-money kept apart under Article 12 of the law.
EMI: ALL 45,000,000 capital (Reg. 59/2021 Art. 5); banking law + regulation; same clock and fee; draft law moves it under Law 55/2020.
- ✓E-money issuance plus payment services
- ✓Capital ALL 45,000,000 (Reg. 59/2021 Art. 5)
- ✓Licensed under the banking law and Regulation 59/2021
- ✓Same 3-month decision and ALL 30,000 fee
- ✓Funds behind e-money on a separate account or in low-risk assets
- ✓Draft law would move EMIs under Law 55/2020
Costs and timelines are confirmed for your case before any work begins. The ALL 30,000 fee is printed in Regulation 59/2021; the annual supervision charge, the safeguarding set-up and substance are itemised in your quote.
Why Albania
A PSD2 law with a statutory clock, on the Adriatic and on the road to the EU.
Albania is a candidate for EU membership with a payment law already written to the EU's pattern. What it sells is a licence that is quick to decide, cheap to file and taxed at 15%.
✓
Three months, in the law
Article 14 of Law 55/2020 gives the Bank of Albania three months from the application to decide - and the regulation adds a 30-business-day completeness notice so the clock is visible.A clock in Article 14.
✓
Capital in lek
ALL 2.5, 6.5 or 16 million for a payment institution and ALL 45 million for an EMI - the PSD2 tiers at Albanian scale, printed in Article 5 of Regulation 59/2021.ALL 2.5M-16M PI, 45M EMI.
✓
ALL 30,000 to file
The application fee is a line in the regulation, non-refundable and known before the first document is drafted.The fee, printed.
✓
15% tax, 8% dividends
The corporate rate under the 2023 income tax law, with 8% withholding on dividends and 20% VAT - a light card for a licensed company.Dividends 8%.
✓
An EU-pattern file
The law's service list and licence types follow PSD2, so a group's EU documentation translates into the Albanian format rather than starting over.PSD2 structure, translated.
✓
Instant payments coming
The January 2025 letter of intent with the Banca d'Italia sets up a Western Balkans instant system on the TIPS model - a licensee that starts now is in place when it opens.TIPS-model system, LoI Jan 2025.
How it compares
How Albania differs from other routes.
Albania offers PSD2 mechanics without a passport, at lek capital and a three-month clock. The honest comparison is below.
Albania vs other jurisdictions
| Feature |  Albania | Other jurisdictions |
|---|---|---|
| Capital | ALL 2.5M-16M PI · 45M EMI | EUR 20,000-350,000 in the EU |
| Decision clock | 3 months from the application | 3 months, or none |
| Application fee | ALL 30,000 printed | EUR 0 to 10,400 |
| Corporate tax | 15% | 9-25% |
Capital
AlbaniaALL 2.5M-16M PI · 45M EMI
Other jurisdictionsEUR 20,000-350,000 in the EU
Decision clock
Albania3 months from the application
Other jurisdictions3 months, or none
Application fee
AlbaniaALL 30,000 printed
Other jurisdictionsEUR 0 to 10,400
Corporate tax
Albania15%
Other jurisdictions9-25%
Country by country
| Country | License type | Taxation | Requirements |
|---|---|---|---|
| Albania | PI / EMI (Bank of Albania) | 15% | ALL 2.5M-16M · EMI ALL 45M · 3 months |
 Montenegro | PI / EMI (CBCG) | 9-15% | EUR PSD2 tiers |
 North Macedonia | PI / EMI (NBRNM) | 10% | EUR PSD2 tiers in denar |
 Serbia | PI / EMI (NBS) | 15% | EUR PSD2 tiers in dinar |
AlbaniaLicense typePI / EMI (Bank of Albania)
Taxation15%
RequirementsALL 2.5M-16M · EMI ALL 45M · 3 months
MontenegroLicense typePI / EMI (CBCG)
Taxation9-15%
RequirementsEUR PSD2 tiers
North MacedoniaLicense typePI / EMI (NBRNM)
Taxation10%
RequirementsEUR PSD2 tiers in denar
SerbiaLicense typePI / EMI (NBS)
Taxation15%
RequirementsEUR PSD2 tiers in dinar
Before you apply
Requirements for the Bank of Albania licence.Requirements for the licence.
Law 55/2020 sets the conditions and Regulation 59/2021 the documents, the fee and the clock. The checklist below is what a passing file contains.
01
A company registered in the Albanian Commercial Registry with its head office in Albania, as Articles 13 and 32 of Regulation 59/2021 require.
02
Capital at the Article 5 tier - ALL 2.5 million, 6.5 million or 16 million for a payment institution, ALL 45 million for an e-money institution - paid in and never falling below the figure.
03
A business plan and projections for the services applied for, matched to the regulatory capital the Bank of Albania sets by bylaw under Article 11 of the law.
04
Safeguarding under Article 12 of the law: users' funds on a separate bank account or in secure, liquid, low-risk assets, or covered by an insurance policy or comparable guarantee.
05
Administrators of suitability under Articles 30 to 46 of the regulation, with certificates of no criminal record and the experience the central bank assesses.
06
Shareholders and beneficial owners disclosed, with the source of the capital documented.
07
Governance, internal control and operational-risk management under Regulation 51/2024, which applies to payment institutions and EMIs as it does to banks.
08
Professional indemnity insurance for initiation and account-information services, sized under Guideline 1/2022.
09
AML/CFT policies under Albania's law on preventing money laundering, with a compliance officer and reporting to the financial intelligence unit.
10
The ALL 30,000 application fee paid under Article 10, and the file completed within six months of the completeness notice so the procedure does not lapse.
01
Albanian company with head office in Albania.
02
Capital ALL 2.5M / 6.5M / 16M or EMI ALL 45M.
03
Business plan and regulatory capital (Law Art. 11).
04
Separate account or low-risk assets (Law Art. 12).
05
Administrators' suitability (Reg. Arts. 30-46).
06
Shareholders and UBOs disclosed.
07
Operational risk per Regulation 51/2024.
08
PII per Guideline 1/2022.
09
AML/CFT with compliance officer.
10
ALL 30,000 fee; file completed within 6 months.
Reflects Law 55/2020 on payment services, Law 9662/2006 on banks, Bank of Albania Regulation 59/2021, Regulation 51/2024 and Guideline 1/2022, as of 2026.Law 55/2020; Law 9662/2006; Bank of Albania Regulations 59/2021 and 51/2024; Guideline 1/2022.
How it works
From first call to the Bank of Albania licence.
01
Route and strategy
PI or EMI; service list and capital tier; limited-activity option - the route and budget fixed in writing.PI or EMI - in writing.
02
Company and capital
Albanian company formed, capital paid to the Article 5 figure, owners and administrators documented.Formed, paid, documented.
03
The application file
Business plan, safeguarding, governance, operational risk and AML documentation under Regulation 59/2021 - complete before filing, fee paid.Reg. 59/2021 documents; fee paid.
04
Bank of Albania review
The three-month clock, question rounds answered inside the six-month window - plan on six to nine months end to end.3-month clock; 6-9 months realistic.
05
Licence and launch
Licence issued, agents registered within two months, safeguarding live - and the reporting calendar running.Agents registered; safeguarding live.
Quick facts
RegulatorBank of Albania
LawLaw 55/2020 · Reg. 59/2021
LicencePI · EMI · limited-activity PI
CapitalALL 2.5M / 6.5M / 16M · EMI 45M
Decision3 months
FeeALL 30,000
Timeline6-9 months realistic
Corporate tax15% · VAT 20%
The clock is in the law and the fee in the regulation. A file that passes the 30-business-day completeness check on the first reading is what keeps the decision inside three months, and our job.
Your Albania desk
Run from our South-East Europe desk.
Prifinance - South-East Europe desk
Budapest · coordinating Albanian mandates
Korányi Sándor u. 4, Budapest
01
Albanian company formation
A sh.p.k. or sh.a. with the capital tier the service list requires, registered in Tirana with the head office the regulation asks for - structured for the licence from day one.sh.p.k., capital tier, head office in Tirana.
02
The Bank of Albania file
Business plan, safeguarding, governance, operational-risk and AML documentation to Law 55/2020 and Regulation 59/2021 - drafted by us and defended through the three-month review.Law 55/2020 and Reg. 59/2021 answered in order.
03
Safeguarding and rails
The separate bank account under Article 12 opened before launch, and settlement through Albanian banks agreed with the licence.Article 12 account; bank settlement.
04
Substance in Albania
Administrators who pass the suitability test, a compliance officer and premises in Tirana - the presence the licence is built on.Tirana administrators, compliance, premises.
We also have offices in
Tallinn
Estonia
Roseni 13
Vilnius
Lithuania
Gedimino pr. 2
Prague
Czech Republic
Vlkova 532/8, Žižkov
London
United Kingdom
7 Bell Yard
Dubai
UAE
33 Level, Al Saqr Business Tower
Madeira
Portugal
Rua da Alegria 31, 1F
Istanbul
Turkey
Perpa Ticaret Merkezi, A Blok
Good to know
Taxation of payment companies in Albania.
A 15% corporate rate under the 2023 income tax law, 8% on dividends and 20% VAT - a light card with a treaty network that reaches the EU.
Corporate tax 15%
The rate under Law 29/2023, in force since 1 January 2024, on a licensee's fee and margin income.Law 29/2023 from 2024.
VAT 20%
The standard rate; financial services carry exemptions, technology and processing fees may not - the product mix is mapped early.Financial services exempt.
Dividends 8%
Withholding on dividends is 8% - a low rate for a distributing subsidiary, reduced further by treaties.Treaties cut it further.
Payroll
Income tax and social and health contributions on Tirana salaries - the operating budget prices them in with the compliance and management hires.Income tax + contributions.
Treaties
A treaty network covering most EU states and the region - outbound flows to the parent are planned with the licence.EU states and the region.
EU alignment
Tax and payments law are both moving toward the EU acquis as accession talks proceed - a licensee's structure is built to travel with them.Acquis on the way.
Tax summary
Corporate tax15%
VAT20%
Dividend withholding8%
PayrollIncome tax + contributions
Tax treatiesEU states and the region
Income tax lawLaw 29/2023 from 1 Jan 2024
*Figures as of 2026 per the Ministry of Finance fiscal bulletin. Treaty and regime positions are assessed per structure.
Turnkey professional support
Experienced lawyers and international consultants.
We provide end-to-end support, from company registration and the application file to regulatory interaction and compliance oversight - with an individualized approach to each client.
Oleksii Kindratenko
Builds the application itself: Albanian sh.p.k., AML/KYC policy pack, capital structure and tax registrations. His document sets are the reason reviews finish in months, not years.
Eugeniu Bevziuc
First point of contact for international founders. Runs the whole setup remotely, across time zones and languages - from the first call to a live, licensed institution.
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Albania · Bank of Albania
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The Albanian payment licence, answered.
What licence does a payment business need in Albania?+
A licence from the Bank of Albania - as a payment institution under Articles 13 and 14 of Law 55/2020 for the payment services of the act, or as an e-money institution under the banking law and Regulation 59/2021 if you issue stored value. Initiation and account-information providers register.
How much capital is required?+
Article 5 of Regulation 59/2021: ALL 2.5 million for money remittance only, ALL 6.5 million for payment initiation only, ALL 16 million for the account-based services - the highest figure if several apply - and ALL 45 million for an e-money institution. The capital may never fall below the figure.
How long does the Bank of Albania take?+
Article 14 of the law gives it three months from receipt of the application. The regulation adds a completeness notice within 30 business days and lapses the procedure if the file is not completed within six months. Plan on six to nine months from first call to licence.
What does the application cost?+
ALL 30,000 under Article 10 of Regulation 59/2021, non-refundable. The annual supervision charge is confirmed for your project.
How are client funds protected?+
Article 12 of the law forbids commingling: users' funds go to a separate bank account or into secure, liquid, low-risk assets, or are covered by an insurance policy or comparable guarantee.
Does the licence passport?+
No - it is a domestic licence. The draft amending law adds a cross-border notification procedure, but Albania is outside the EEA passport until accession. Groups pair it with an EU home state; we sequence the two.
How are payment companies taxed?+
Corporate tax at 15% under Law 29/2023, VAT at 20% with exemptions for financial services, and 8% withholding on dividends.
What substance does the Bank of Albania expect?+
A company registered in Albania with its head office there, administrators who pass the suitability assessment of Regulation 59/2021, operational-risk management under Regulation 51/2024, a compliance officer and premises.
What is changing?+
A draft law published by the Bank of Albania would bring e-money institutions under Law 55/2020, restate a payment institution's capital in euros - EUR 20,000, 50,000 and 125,000 - and add own-funds methods A, B and C. A Western Balkans instant-payment system on the TIPS model is being set up under the January 2025 letter of intent with the Banca d'Italia.
Why Albania rather than Montenegro or North Macedonia?+
Albania has a three-month clock and a fee in the regulation, a 15% rate and the largest population of the three; Montenegro uses the euro; North Macedonia has a 10% rate. Groups building across the Western Balkans often start here and add the neighbours as the regional rail opens.
Which licence?+
Bank of Albania PI (Law 55/2020) or EMI (Reg. 59/2021).
Capital?+
ALL 2.5M / 6.5M / 16M; EMI ALL 45M.
How long?+
3 months in the law; 6-9 months realistic.
Fee?+
ALL 30,000, non-refundable.
Client funds?+
Separate bank account or low-risk assets.
Passport?+
No - domestic licence.
Taxes?+
15%, VAT 20%, dividends 8%.
Substance?+
Head office, administrators, compliance, premises.
What is changing?+
Draft law: euro capital; regional instant rail.
vs Montenegro / N. Macedonia?+
Statutory clock, printed fee, biggest market of the three.
Client notes
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Founders who wanted it done right.
Google4.7★★★★★
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Prifinance is an independent law and advisory firm. We are not a regulator and are not affiliated with, endorsed by, or acting on behalf of the Bank of Albania or any other public authority. Authorisations are granted by, and obtained directly from, the competent authorities.