Albania Retirement Visa | An Incomplete Guide
What is retirement visa?
Retirement visas are a type of passive income visa that has been popular worldwide since the 1980s. Typically, they are issued to retirees who have sufficient retirement funds or stable income.
In general, global retirement visas have the following characteristics:
1. Applicant Qualifications: Typically, retirement visas require applicants to be retirees, reach a certain age, or have retirement funds.
2. Restrictions on Employment: Visa holders are usually not allowed to work locally.
3. Path to Permanent Residency: After residing in the destination country for a certain period, retirement visa holders can often apply for permanent residency or even citizenship.
If you’re interested in retirement visas or passive income visas, you might want to read our informative article: ‘Global Passive Income Visa | An Incomplete Guide‘.
Albania Retirement Visa:
The Albania Retirement Visa is one of the most attractive and straightforward retirement visa programs in Europe. As long as you are a retiree with an annual pension of no less than 1.2 million lek (approximately $13,000), you qualify to apply for this visa.
With relatively low requirements and a welcoming environment, Albania is an ideal destination for retirees seeking a peaceful and affordable haven in the heart of the Balkans.
Applicaiton Process:
Starting from May 2022, all applications for long-term residence permits in Albania, including retirement visas, can be completed entirely online.
Generally, if you want to apply for an Albanian retirement visa, you need to follow these steps:
1. Preparation Phase: Upon arrival in Albania, you must complete several pre-application tasks, including securing a local address, opening a bank account, and fulfilling any necessary investments.
2. Submitting the Application: After completing the necessary preparations, you should log in to Albania’s visa application platform within 30 days of your arrival (https://e-visa.al/apply). Create an account, select the “Visa For Pensioners” option under the long-term residence D category, fill out the form, and submit the required documents.
The required documents include:
- Applicant’s Identity Documents: Valid passport and passport-sized photos taken within the last six months.
- Application Form: Complete an online application form and submit a statement expressing your intention to live in Albania.
- Local Residence Registration: You can use a hotel or a friend/agent’s address as your registered residence.
- Financial Proof: Provide evidence, including retirement income certificates and bank statements from your main accounts for the past 12 months, to demonstrate that your retirement income meets the requirements.
- Proof of Funds Transfer: Transfer some funds to your Albanian bank account to demonstrate that you can freely transfer retirement income to Albania.
- Health Insurance Certificate: Purchase valid health insurance in Albania annually.
- Certificate of No Criminal Record.
Upon successful application, you will receive a congratulatory letter indicating that your visa application has been approved. It will also outline any remaining visa fees and additional procedures. The visa fee for the Albanian retirement visa varies based on the applicant’s nationality but is generally around 11,400 Albanian lek.
The entire processing time for the retirement visa typically does not exceed 25 days.
Dependents:
Regarding the Albania Retirement Visa, the main applicant’s spouse and financially dependent children can settle together in the country. However, family members must apply for a Family Reunification Visa separately.
Visa Validity:
The Albania Retirement Visa is initially issued for one year. Renewal options are as follows:
- First renewal: Renewable for one year
- Second renewal: Renewable for two years
- Third renewal: Renewable for five years or convertible into a permanent residency permit
Foreign nationals who have legally resided in Albania for a minimum of five years can apply for permanent residency.
Foreign nationals who have legally resided in Albania for a minimum of five years and are proficient in the Albanian language can apply for naturalization.