On July 21, 2026, the Ministry of Economy and Innovation opened for public consultation a new draft law “On the Register of Beneficial Owners.” The consultation remains open until August 18, 2026. The draft law aims to align Albanian legislation with the Directive. (EU) 2024/1640 and the Regulation (EU) 2024/1624 and, once approved, will replace the current law No. 112/2020.
Most businesses record the beneficial owner once, on the day they set up the company, and then never touch it again. That's precisely where the risk begins. The register is not a box you check once and close, but a reflection that must match reality whenever ownership or control of the company changes. The new draft law further strengthens this very requirement for up-to-date information.
This article explains what the beneficial ownership register is, what obligations and fines apply today, and what is expected to change with the new draft law. It is not a final legal text, because the draft law is still in the consultation phase and may change until it is approved.
Read also: Register of Beneficial Owners, Guidei Our complete recording
What is a beneficial owner?
The beneficial owner is always an individual, not a company, who ultimately owns or controls the legal entity. Under the applicable framework, a person is considered a beneficial owner when they own, directly or indirectly, 251 TP 3 T or more of shares, stock, or voting rights, or when they exercise control over the entity by other means.
The Beneficial Owners Register is maintained by the Business Registration Agency, and applications are submitted electronically through the e-albania portal using electronic identification and signature. For the step-by-step procedure, there is a dedicated guide available at the link above.
Who is affected by this obligation?
The obligation to register the beneficial owner applies to almost every legal entity registered in Albania. This includes limited liability companies, joint-stock companies, general partnerships and limited partnerships, branches and representative offices of foreign companies, as well as nonprofit organizations.
Natural persons engaged in trade, entities with the state as their sole partner, religious communities, political parties, and trade unions are exempt from this obligation.
What obligations and fines apply today?
It is important to understand that this is not a new requirement. The register has been in operation since 2021, and the sanctions are already in place. Under the current regime, failure to meet obligations is subject to fines and, what is often more severe, the suspension of business status.
Key fines under the current framework:
1. Failure to register initial data within the deadline: a fine of 50,000 lek.
2. Failure to register even after the extended deadline results in a fine of up to 600,000 lek.
3. Failure to register changes within the deadline: a fine of 400,000 lek.
In addition to the fine, the entity is moved from active status to suspended status and the QKB suspends services, except for changing the legal representative and filing financial statements, until the fine is paid and the data are recorded. For a business in operation, this blockage is often more costly than the fine itself.
Read also: Dissolution of the limited liability company
What changes with the new draft law?
The draft law does not create the registry from scratch, but strengthens the way it operates. The main changes that emerge from the consultation text are as follows.
1. The transition to a risk-based regime, with active verification by the QKB and automatic data transfer from the commercial register and the nonprofit register, without the entity having to re-declare it.
2. Mandatory periodic verification of the beneficial owner, which can also be carried out together with the submission of annual financial statements. This directly links the register to the standard business calendar.
3. Limited access for persons with legitimate interest, such as journalists or organizations, who may view limited ownership data, without the full personal number and without the full date of birth.
4. Reporting obligation for obliged entities, including banks, notaries, attorneys, and accountants, who must report any discrepancies they find between reality and the data in the register.
The last point is of particular importance because it also affects our work as an accounting and advisory firm. For this reason, we closely monitor every change that goes through for consultation.
Practical example
Let's take a limited liability company where the partner structure changes—for example, a new partner comes in with 30% of interests. This change creates a new beneficial owner because it exceeds the 25% threshold.
If this change is not registered within the deadline, the entity risks a fine of 400,000 lekë and the suspension of its status at the QKB. For a business that needs to issue invoices, participate in tenders, or carry out transactions with the QKB, the suspension can bring operations to a halt for days. A simple update within the deadline completely avoids this cost.
What you need to do now
While the draft law is still under consultation, the current obligations remain fully in effect. Here's what you should check now.
1. Verify whether your beneficial owner is registered and whether the information matches the current reality.
2. Check whether there have been any changes in the property's ownership structure that have not yet been reflected in the registry.
3. Ensure that the authorized person has an active electronic signature to submit applications on e-Albania.
4. Include the beneficial owner verification in the annual calendar, along with the financial statements.
Read also: Business registration.
Frequently asked questions
Is this a new obligation?
No. The Register of Beneficial Owners has existed since 2021, under law no. 112/2020. The new draft law strengthens the regime and aligns it with EU directives, but the obligation already exists.
When does the new law take effect?
There is no date yet. The draft law is in public consultation until August 18, 2026. After that, it moves to the approval process and takes effect only after being published in the Official Gazette.
How much is the fine if I don't register on time?
Under the current framework, fines range from 50,000 lek for initial failure to register to 600,000 lek when the extended deadline is missed, plus 400,000 lek for failure to register changes. Exact figures should always be verified with the official source before taking action.
Who is considered the beneficial owner?
A natural person who owns 251 TP3T or more of quotas, shares, or voting rights, or who controls the entity by other means.