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Asset and portfolio management
FinTechs belonging to this category offer asset and portfolio management services via an internet platform or software programs and usually manage and dispose of the assets of their customers long or short term according to their specifications without actually holding the property or the possession of those assets. FinTechs, which provide information about and access to overnight or time deposit accounts at national and foreign banks and which execute the transactions to these accounts, also belong to this category.  Some FinTechs however only act on request of the customer.

Aside from that some FinTechs offer software or internet solutions enabling users to manage and plan their personal finances on their own by providing graphics, overviews and compilations of their financial data and sometimes indicating financial risks or opportunities, but without actually managing the assets.


Attitude of the country towards modern asset and portfolio management services

Asset and portfolio management is a relatively new concept in Albania, despite the adoption of laws and bylaws regulating this sector. Recently, also following the perspective of joining the EU, Albania adopted the Law on Collective Investment Undertakings no. 56/2020, which is partly approximated with Directive 2009/65/EC, Directive 2011/61/EU and amending Directives 2003/41/EC and 2009/65/EC of the European Parliament and Regulations (EC) No 1060/2009 and (EU) No 1095/2010. However, this area of business remains in development and obscure to companies and people.

Legal affairs

Obligations and requirements to provide asset and portfolio management, or ancillary services described above

According to the Law on Collective Investment Undertakings, asset and portfolio management is done through an incorporated entity, the regular business of which is the management of publicly offered collective investment undertakings including undertakings for collective investment in transferable securities licensed under Albanian law or an equivalent foreign law.

The paid-in capital of the management company shall be no less than 15,800,000 ALL – approx. EUR 130,300 and must always have own funds as provided in the Law on Collective Investment Undertakings. 

With regard to license, the application is filed with the Albanian Financial Supervisory Authority (the Authority) and consists of information on the company, structural organisation, stockholders, business plan etc., and filing fee at the amount of 20,000 ALL – approx. EUR 170. Upon receiving the Authority’s decision on granting the license, the company is required to pay the registration fee at the amount of 250,000 ALL – approx. EUR 2,100. 

Additional comments regarding the legal situation for asset and portfolio management services or what FinTech’s must be aware of in this business area

A Fund Management Company shall conduct its service by not less than two (2) natural persons in compliance with fit and proper requirements provided by applicable laws. In addition, the company shall not act as a depositary, nor can be an owner of a depositary.

The company may transfer its activity to another licensed company after receiving the approval from the Authority. Furthermore, the company shall be subject to the Authority’s supervision and shall pay the supervision tariff which may be reviewed on a yearly basis by the Authority.

Economic conditions

Market size for asset and portfolio management services and biggest companies in this business area

The market is relatively small and undeveloped. There is no publicly available information about the number of customers of companies operating in the sector of asset and portfolio management services. Currently, there are five (5) companies operating as a fund man
agement company, which can be found at this link.

Additional comments regarding the economic situation for asset and portfolio management services or what FinTech’s must be aware of in this business area





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