It is possible to obtain a residence permit in Albania by investing in the country’s economy
A residence permit in Albania can now be obtained for investment in the local economy. When investing the amount of 93 thousand dollars, foreigners can claim the opportunity to reside in the country for 5 years, in addition, they have the right to work.
In addition, Albania offers the possibility of obtaining a residence permit for retired people, whose annual income is about 11 thousand dollars. In addition, they must provide a rental agreement for local housing. There is also a program of investment in real estate in exchange for a residence permit, but it gives the right to stay for only one year. In this case, there is no minimum threshold for investment, while the area of housing must be 20 sq.m.
With a residence permit and the fact of residence in the country for 7 years, you can apply for a local passport.
To visit the country, a foreigner must have an EU passport, a residence permit, or a current Schengen visa. Albania is also open to citizens of the United States, and the United Kingdom, or to visitors who have visas from these states. No additional permits are needed for foreigners who have had a UAE residence permit for 10 years. For short-term visits to the country, it is enough to have a passport of the state from the officially approved list.
In all other cases, you need to get a visa type C or D, which opens for a single, or double visit or is valid for multiple visits. For example, to stay in Albania for a total period of 90 days within six months, you need a C visa, which may be valid for up to 5 years. In order to stay in the country for more than 3 months, visa D is issued, it is suitable for those, who are planning to apply for a residence permit. This visa is valid for only 1 year.
Albania is located in the Balkans, the country boasts beautiful nature and a mild climate. It is washed by the Ionian and Adriatic seas, which attracts many tourists. It is a Muslim state that was closed to foreigners for a long time until 1985 when its government changed. It is one of the ten poorest countries in Europe, with a GDP per capita of $5,373.
Despite Albania’s tourist attractiveness, the country’s tourism sector is still underdeveloped, although it has great potential. One of the advantages of this situation is the relatively low price of real estate, which can be used to generate additional income. Apartments can be rented to tourists on a short-term basis, but it is necessary to take into account the seasonality. In the local market, a large number of offers are located in coastal regions, where there is a well-developed infrastructure for recreation.