How to Open a Bank Account, Get Residency & Pay Property Taxes in Albania

Your easy guide to settling in Albania

So, you’ve made the exciting decision to live in Albania—whether it’s the gorgeous Saranda coast, the beautiful beaches of Ksamil, or the quiet charm of Borsh, you’re about to start an amazing new chapter. But, before you dive in fully, you probably have a few questions about the practical stuff—like setting up a bank account, getting residency, and taking care of your property taxes.

Don’t worry, I’ve got you covered. Here’s a step-by-step guide to help you get everything sorted without any stress.

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1. Opening a Bank Account in Albania: Simple and Straightforward

First things first: you’ll need a local bank account. It’s key for handling all sorts of day-to-day things, like paying bills, managing money for your property, or even just buying groceries. Trust me, you’ll need it!

What do you need to open an account?

It’s pretty simple. You just need to bring the following:

• Your passport (or ID if you’re Albanian)

• Proof of address (like a utility bill, rental contract, or your property deed)

• Tax number (you can get this at the local tax office)

• Residency permit (if you’ve already got one)

Once you’ve got all that, you can walk into any local bank, fill out the paperwork, and boom—you’ll have a bank account in no time. Easy, right?

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2. Getting Residency in Albania: Your Path to Living Here Legally

If you’re planning on sticking around for the long haul, you’ll need to get residency. Luckily, the process isn’t too complicated. Here’s what you need to know.

What do you need for residency?

• Proof of property or rental agreement: If you’ve bought property, you’ll show the property deed. If you’re renting, you’ll need a long-term lease.

• Documents required:

• Passport

• Proof of address

• Tax number

• Health insurance (proof that you’re covered)

How long does it take?

• Temporary residency: If you’re planning to stay for more than 90 days but less than a year.

• Permanent residency: If you’ve lived here for five years or own property, you can apply for permanent residency.

Once you’ve completed the process and submitted your documents, you’ll get your residency card. This is your official permission to live and work in Albania—making everything much smoother.

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3. Paying Property Taxes in Albania: It’s Simpler Than You Think

Now, let’s talk taxes. If you own property in Albania, you’ll need to pay property taxes. Don’t worry though—the tax rates are low compared to other countries, and the process is straightforward.