Albania’s new insolvency law established time limits during insolvency, professional qualifications for insolvency administrators, and the Agency of Insolvency Supervision to regulate insolvency administrators. A simplified insolvency procedure for small businesses was introduced as well. Business start-up was eased by making registration electronic, enhancing the registry’s capacity, reducing the minimum capital requirement from ALL 100,000 to ALL 100, and eliminating the requirement to register at the Chamber of Commerce. Implementation of ASYCUDA World and the purchase of scanners have reduced customs clearance time for imports.
Areas of Reform: Starting a business, Trading across borders, Closing a business
Rank in Doing Business 2012: 82