Albania: Easier Immigration Law for Retirees and Digital Nomads

New Residence Permit Classes in Albania (Retirement and Digital Nomads)

00:00 Intro
01:08 Albania has just passed a new immigration law
01:34 It has a number of benefits
Easier process to acquire a residence permit
02:06 Residence permits available for retirees
03:00 Residence permits available for digital nomads/freelancers

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New immigration law
-Just this week Albania has passed a new law regarding the stay of foreigners in the country.
-The draft for this law has been around since the beginning of the year, and will greatly facilitate the life of foreigners willing to stay in Albania.
-Among the key points of the law, it will drastically facilitate the application of residence permits in the country.
-But that is not the best part of it. The best part is that it opens new residence permit categories in Albania that were previously non-existent.

Residence permit for retirees

-The first new class of residence permit that is now available in Albania is the residence permit for retirees.
-The financial requirements are pretty low according to this new law. If your pension amounts to 9800 euros per year, you are good to go.
-It is still unclear whether only retirement pensions will count towards that, so I cannot say at this point if rental income or dividend income would suffice for this specific type of residence permit.
-You will still have to meet other basic requirements that are needed for any residence permit (proof a place to stay, health insurance, and so on)

Residence permit for digital nomads

-A specific class for digital nomads was also passed on the law.
-Previously, if you work remotely and wanted to live in Albania you would have to open a company and hire yourself, rendering you able to get residence as you work in the country.
-Now the process seems simplified, but you will still need to prove that there is money coming your way with contracts you have with a company or clients abroad.
-It is still unsure if the digital nomad residence permit is a more optimal choice in regards to taxation, but it is definitely easier in terms of bureaucracy.
-As a digital nomad, you will have to receive your payments into an Albanian account, which might not be the most straightforward process. As a digital nomad receiving money through payment processors like PayPal or Wise can be easier.
-On a good note, Paysera, a big payment processing company from Lithuania is expanding to a few countries in the Balkans, including Albania.

Key points to be considered here

-Albania is reducing its bureaucracy and becoming increasingly more friendly towards foreigners with income sources from abroad, going in the opposite direction of many western countries which make life of freelance workers quite complicated with many bureaucracy and high taxes.

-If you are an US citizen you can already come to Albania and stay up to one year without any bureaucracy of any sort. So, if you are unsure whether you will like Albania or not and if you are from the US, you can come, check the situation and consider whether you want to make Albania your base. If you are from the EU, or many other countries in Europe, East Asia and Latin America, you can stay up to 90 days in Albania without a visa.

-Albania is rapidly developing and becoming Westernized but only in the good sense. You can find great entertainment, cafes, restaurants, banks, and roads. Albania is also extremely safe. The nature is also amazing, Albania has some of the best beaches I have seen.

So that’s it, if you want to consider Albania, you can be sure that this is a country which is becoming more welcoming towards foreigners, with new laws and easier requirements for residence permits.

After 5 years living in Albania, you can get permanent residency.

Видео Albania: Easier Immigration Law for Retirees and Digital Nomads канала traveleconomics