Tokenize Real Estate in Albania

Yes. Law No. 66/2020 on Financial Markets Based on Distributed Ledger Technology provides a clear legal framework, effective since September 1, 2020. The Albanian Financial Supervisory Authority (AFSA) licenses and regulates all DLT-based financial activities through five distinct license categories. Heritage completed Albania's first tokenized property transaction in 2023, proving the framework works in practice

No. Property title transfers are still registered at the Albanian cadastre (State Cadastre Agency — ASHK). Tokens represent ownership interests in the SPV or fund that holds the property, not direct land title. ASHK is currently digitizing cadastral records, which improves title verification for tokenization but does not change the underlying ownership registration process

Yes. Foreign investors can participate through multiple routes: directly via AFSA-licensed platforms for local STO tokens, through EU fund structures (Luxembourg RAIF, ELTIF 2.0) for cross-border access, or via offshore-issued tokens referencing Albanian assets. There are no nationality restrictions for token holders in compliant fund structures. T-Blocks' Trio Fund specifically targets global institutional investors through its Luxembourg MiFID II structure

Timeline depends on the route: 4–8 weeks for a local STO under Law 66/2020, 8–12 weeks for an EU fund structure through Luxembourg RAIF, and 2–4 weeks for an offshore issuance with geo-blocking. Tokenizer.Estate handles AFSA licensing, ALREG registration, SPV formation, and legal documentation in parallel to minimize the total timeline

Minimum investment depends on the token structure set by the issuer. Heritage's first tokenized property in Vlorë allowed participation from €1,000+. The T-Blocks Trio Fund targets institutional investors with higher minimums. Offshore token structures offer flexible minimums set by the issuer. There is no regulatory minimum imposed by Law 66/2020 for token purchases

Law 66/2020 is Albania's dedicated legislation for DLT-based financial markets. It covers the issuance, trading, and custody of digital tokens and virtual currencies. The law requires businesses to obtain specific AFSA licenses — including DT Agent, DLT Bourse, Innovative Service Provider, Third-Party Portfolio Custodian, and Automated Collective Investment Enterprise licenses. It is one of the first dedicated DLT securities frameworks in Europe

ALREG is the Albanian Securities Register — the country's central depository for non-government securities. It registers dematerialized shares and notes in electronic form, which can then be mirrored as blockchain-based tokens. This provides a regulatory bridge between traditional securities and digital assets, giving tokenized instruments a recognized legal foundation within Albania's financial infrastructure

Albania applies a 15% flat capital gains tax on digital asset gains for individuals, effective since January 1, 2024. Corporate income from crypto activities is taxed under standard corporate tax rules. Mining and staking income is taxed as ordinary income at rates from 0% to 23%. There is no VAT on cryptocurrency transactions, aligning with the European Court of Justice ruling on digital asset tax treatment

Tokenizer.Estate manages the full AFSA licensing process through local legal partners. This includes preparing the application, compliance documentation, AML/KYC procedures aligned with Albanian and EU standards, and ongoing reporting requirements. The platform does not provide legal advice directly — it connects issuers with licensed Albanian professionals who handle regulatory filings

Albanian tokenized securities can be issued on major blockchain networks including Ethereum, Polygon, and other EVM-compatible chains. The choice of network depends on the issuer's compliance requirements and target investor base.