An overview of Albanian company legislation through historical changes and European integration: Remarks regarding administrator’s responsibilities in limited liability and joint-stock companies

Abstract

In the early ’90s, Albania came out of a totalitarian system. At the time, the need for changes to be made was necessary and many areas were included. During the dictatorial regime, private commercial companies were not legitimate. After the regime fall, private activities, private enterprises rose almost from nothing and Albanian company laws during the recent years have been subject to continuous improvement until harmonization with EU respective directives. This paper aims to present a brief outlook into Albanian history of commercial companies. Efforts on laws modification and modernization bring about social and economic changes, and more practical procedures on private companies. To better understand and configure the panorama amendments on company law, this historical view is also accompanied and associated in this paper with some concrete analysis of a company life participant: the administrator and his responsibilities in limited liability and joint-stock companies.

Keywords: Albanian company law, law modification, EU directives harmonization, limited liability and joint-stock companies, administrator’s responsibility.