Albania opens its doors to large investment funds from the EU, the draft regulation on how they will be registered and how they will operate is submitted for consultation

Albania is officially giving the green light to large European investment funds, while for a long time at least two of them have expressed interest in being present in the country. The Financial Supervision Authority has released for public consultation the document that regulates how they will be registered and how they will operate in Albania. More specifically, the Draft Regulation aims to determine the procedure, rules and documentation for the recognition of the administrator of alternative investment funds licensed in an EU member state and the approval of the registration of these funds that will be marketed and sold to professional investors and qualified in the Republic of Albania. The regulation defines strict criteria regarding the transparency of these funds and the way they operate. The prospectus that will be made available to investors in the Republic of Albania must contain an Appendix with information regarding the marketing and sale of shares or quotas of the alternative investment fund approved in an EU country in the Republic of Albania.

The prospectus made available to investors is drawn up in the Albanian language and published on the official website of the registered agent, through which the recognized administrator can market and sell the shares of the alternative investment fund. The authority, during the recognition process of the manager of investment funds, will examine the necessary information related to them, as well as whether the existence of an agreement with the object of appropriate supervisory cooperation between the regulatory authority of the EU country of the manager of alternative investment funds approved in an EU member country, and the Authority. Also, the AMF will consider the necessary measures for the payment in the Republic of Albania of investors for the redemption of shares or quotas of alternative investment funds and making available the information for investors that the company designs and prepares, according to the rules of the country of of its origin undertaken by the Administrator of alternative investment funds approved in an EU member country.