Tokenize Real Estate in Albania

Yes. Albania regulates tokenized securities under Law 66/2020 on Financial Markets based on Distributed Ledger Technology, in force since 2020. A digital token carrying ownership, profit or property rights is treated as a security token under the Albanian Financial Supervisory Authority (AFSA) and capital-markets rules. In 2023 the first tokenized apartment was sold to 32 investors in Vlorë.

Yes. Foreigners can freely own buildings, apartments and commercial property in Albania and can hold tokenized securities backed by them. Direct ownership of land is reserved for Albanian companies, so land-based projects are usually structured through a local company whose securities are then tokenized.

Law 66/2020 distinguishes security tokens (carrying monetary, profit or property rights and regulated as securities), asset tokens, payment tokens and utility tokens. DLT exchange licenses are granted in categories – Types A, B and C – according to which token types are traded. Real estate offerings are normally structured as security tokens.

The Albanian Financial Supervisory Authority (AFSA, also known as AMF) supervises DLT-based financial markets, alongside the National Agency for Information Society (AKSHI) on the technology side. The AFSA licenses DLT exchanges, token agents, innovative service providers and custodians, and in 2022 it approved the first crypto-asset licensing regime in the region.

Albania applies a flat 15% tax on the capital gain from selling real estate and a flat 15% personal income tax on net rental income, with annual property tax of roughly 0.05% of value. The exact treatment of a tokenized holding depends on how it is structured, so confirm your final liability with an Albanian tax advisor.

A property is typically held in a local company, and digital securities representing ownership or income rights are issued and distributed under Law 66/2020 with AFSA oversight. The first such deal – Heritage's Vlorë apartment in 2023 – split a single property into fractions held by 32 investors, showing the model works end to end.