Albania Adopts Bill on Startup Support

Albania Adopts Bill on Startup Support

TIRANA, December 20

The Albanian Council of Ministers passed on Monday a bill that aims to provide the right legal framework and regulations in support of startups and innovation ecosystem development. The bill has various goals namely: to facilitate startup creation and market integration;
Talent attraction and retention;
Innovation in the legal framework and procurement proceedings
Facilitating access to finance;
Social inclusion and diversification.

Moreover, the bill defines the way how support will be provided to startups. The list includes one-stop-shops, development of startup ecosystem, grants and support measures, and other forms in cooperation with third parties.

Further on, the bill indicates the creation of a Council for Startups that along with other institutions will be responsible for supporting innovative businesses conforming to this bill. In the meantime, every legal or physical person, digital nomads included can obtain the startup status as soon as they fill the self-declaration form of the e-register for startups and facilitators. Afterward, the incubation period is defined as up to 24 months from registration. A unique identification number known as the Startup passport will be generated upon registration.
The bill will come into effect in 15 days from publication on the Official Gazette.

New Draft-Law on Startups Open for Public Consultation

Source: PM’s Office

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