Opening of a Bank Account in Albania: Physical Presence of the Client no Longer Required

With the recent amendments introduced in the banking Regulation on Prevention of Money Laundering and Terrorism Financing (No. 44/2009), the Bank of Albania has abrogated the restriction of opening of a bank account only upon the physical presence of the Client.

Perparim Kalo’s Reflections on the Lawyering after Three Decades

KALO & ASSOCIATES has celebrated its 25th Anniversary in 2019. To reflect on that, the managing partner of the firm, Perparim Kalo, discusses the development of the legal practice in Albania during the last 30 years.

Fiscal Package 2020 Introduced in Albania

KALO & ASSOCIATES present their first Tax Bulletin for 2020 discussing the Fiscal Package 2020 that has been introduced in Albania as of 15 January 2020.

Albanian Railways

Albanian Railways has received a loan from the European Bank for Reconstruction and Development and a grant from EU Western Balkan Investment Fund via the European Bank for Reconstruction and Development and intends using part of the proceeds towards the cost of Albanian Railways.

EU for Municipalities

The global objective of this call for proposals is to support the development potential of municipalities and improve environmental and socio-economic conditions in the local Albanian communities.

Skavica Hydro Power Plant

Electricity generation in Albania is 100% based on hydro resources. The country continues to be a net importer of electricity, with the production dominated by the public sector. To increase energy security and mitigate the risk of floods downstream the exiting cascade of hydro power plants (HPPs) on the Black Drin River, two new HPPs have been recommended to the constructed: 50 MW HPP at Katundi i Ri and 120 MW HPP at Skavica.

Regional and Local Roads Connectivity

Provision of a sovereign loan to the Republic of Albania for the benefit of the Albanian Development Fund (ADF) to finance the rehabilitation of key regional and local roads in Albania.

Perparim Kalo Returns as Board Member at Foreign Investors Association in Albania

The Managing Partner of KALO & ASSOCIATES, Perparim Kalo returns as Board member at Foreign Investors Association in Albania (FIAA). The firm is a well-known legal service provider having a portfolio of major clients operating in Albania, South East Europe region and wider. Mr. Kalo will contribute to guiding the association through the challenges of the current year.

KALO & ASSOCIATES Successfully Defended Republic of Albania

KALO & ASSOCIATES, co-counsel with Freshfields Bruckhaus Deringer, is delighted to announce the successful arbitral award, rendered by ICSID, dismissing the case brought by Anglo-Adriatic Investment Fund against the Republic of Albania, claiming about EUR 220 million for foreign investment expropriation. The case details are available here.

KALO & ASSOCIATES Assisted YURA Corporation

LO & ASSOCIATES team, led by partner Jola Gjuzi, assisted the South Korean global supplier, YURA Corporation. YURA Corporation was granted the status "strategic investor" by the Albanian Government following a thorough examination of the project by AIDA. Yura will be producing electric, electronic and ignition components for the automotive industry and will employ a great number of Albanian citizens.

KALO & ASSOCIATES Advising in the Financing of Trans Adriatic Pipeline

KALO & ASSOCIATES acted as local counsel to the lenders in the EUR 3,9 billion financing of Trans Adriatic Pipeline (TAP), the largest project finance agreed for a European infrastructure project in 2018. Read more about the completed project financing on TAP's website.

BOYANOV & Co. and KALO & ASSOCIATES Advised Albania Telecom Invest

BOYANOV & Co. and KALO & ASSOCIATES, members of SEE Legal, advised Albania Telecom Invest (ATI), a joint venture of Mr. Spas Roussev and Mr. Elvin Guri (a successful Bulgarian entrepreneur of Albanian origin), on the acquisition of Telekom Albania from OTE (Deutsche Telekom) for a total consideration of EUR 50 million. More specifically, BOYANOV & Co. advised ATI on the entire deal – participation in an auction organised by OTE, submission of a bid, legal due diligence (in cooperation with KALO & ASSOCIATES), negotiation of the sale and purchase agreement, escrow agreement and…