- Law No. 112/2020 “On the Register of Beneficial Owners” created, for the first time, the obligation for Albanian reporting entities to identify and register their beneficial owners.
- In December 2020, the QKB announced initial deadlines: identification by December 31, 2020, and registration within 60 days of the register's creation. However, these deadlines were later postponed several times and the law itself was amended.
- The obligation to identify and keep beneficial owners up to date is not a one-time event of 2020, but an ongoing obligation that is renewed whenever the ownership structure changes.
- For the current rules and the expected changes in 2026, we have a dedicated, updated guide.
On July 29, 2020, Law No. 112/2020 was adopted “On the register of beneficial owners,” which for the first time in Albania established the obligation for reporting entities (trading companies and other organizational forms) to identify the natural persons who own or effectively control their ownership, regardless of the formal legal structure. In December 2020, the Business Registration Authority announced the initial implementation deadlines.
From our daily work, we see that many businesses regard the beneficial ownership register as a 2020 requirement, when in fact it is an ongoing obligation that must be renewed whenever the company's ownership or control structure changes.
Read also: The register of beneficial owners is changing. What does the new 2026 draft law bring?, our current guide to the current situation and expected changes.
Why the 2020 deadlines are no longer valid
The initial notice provided for the identification of beneficial owners by December 31, 2020, and registration within 60 days of the registry's establishment, scheduled for January 31, 2021. In practice, the establishment of the register and the implementation deadlines were subsequently postponed several times, and Law No. 112/2020 itself has undergone subsequent amendments (including Law No. 6/2022). The specific deadlines announced in December 2020 are now history, not rules in force.
Every time there is a tax or financial change that affects your business, we notify you directly by email with a practical explanation.
Send me free notificationsWhy does it matter today?
An ongoing obligation, not a one-time obligation.
Every new business registered today, and every existing business that changes its ownership structure, must identify and declare its beneficial owners. This is not an obligation that was “closed” in 2020 or 2021, but remains a regular part of a business's life, especially when those who actually control it change.
How we handle this with our clients
When we assist a client with incorporation or a change in ownership structure, we always verify whether it is necessary to update the beneficial owner information so that the registration is accurate and timely, in accordance with current regulations.
Frequently asked questions
Do I need to register the beneficial owner today as a new business?
Yes. This remains an ongoing obligation under the law, not something that has expired.
What changes in 2026?
There is a draft bill proposing changes to the register of beneficial owners. We have covered it in detail. Our guide to the new 2026 draft law.
