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Albania seeks international company to promote CBI


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Albania to Announce Open Tender for International Citizenship by Investment Promotion Program

The Albanian authorities announced the final approval of the mechanism of public-private partnership for mutual benefit. The purpose of this decision is to attract an international specialized company to promote the program of obtaining Albanian CBI (Citizenship by Investment).

According to Bledar Skenderi, director of the Agency for Development of Special Citizenship Programs in Albania, the decision to expand the scope of state concessions will allow private international firms to promote the citizenship by investment program (CIP).

A special task force of the Ministry of Interior will develop the relevant project, after which one company providing CBI services will be selected through a tender. Skenderi stressed that it will deal exclusively with the promotion of CIP, while the processing and verification of data, as well as the issuance of Albanian passports will remain in the full competence of the government authorities.

EU response to the Albanian CBI

Edi Rama, Albania's prime minister, announced the government's intention to open CIP in 2019. Another year later, the citizenship law was amended to speed up the naturalization of certain categories of investors in the country. In this regard, EU representatives appealed to the authorities of Albania, as a candidate country for membership in the Union, and warned of the possible difficulties of accession to the European Union, and urged to abandon the development of such programs. They said, such CBI schemes pose risks to the EU in terms of security, money laundering, tax evasion, terrorism financing, corruption and the development of organized crime.

However, according to a publication in the regional source Balkan Insight, the Albanian government claims the EU is biased against CBI. The authorities point out that they have taken into account all the risks and this CIP will not lead to an increase in corruption in the country. Bledar Skenderitakz also told the local media: «The EU claims that European values are not for sale. Meanwhile, 100,000 people enter France unchecked».

Many states are now upgrading and launching renewed residency and citizenship programs, attracting businessmen or investors. These include Turkey, UAE, Montenegro, Portugal and others. Learn about current immigration programs of different countries around the world here.

Source: Investment Migration Insider

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