Albania legalizes medicinal cannabis to boost tax revenue

“Applicants seeking licenses must have at least three years of experience in at least three main activities related to the production, cultivation and circulation of the cannabis plant for medical purposes”, reports Dario Sabaghi from Forbes Lifestyle.

In addition to that, Sabaghi reports that applicants are also required to own at least 51% of their companies shares, along with providing the newly formed National Cannabis Control Agency a “good manufacturing practices” certificate for a period of at least three years. Companies must also be involved in the production of cannabis and cannabis derivatives for at least five years within OECD territory, the Organization for Economic Cooperation and Development, of which Albania became the newest member on July 24th, 2023. 

It comes as no surprise that, as of the moment, no local company from Albania can fulfill the requirements imposed by Edi Ramas’ new National Cannabis Control Agency, the purpose of this legislative bill most likely being the attraction of foreign companies operating within the medicinal cannabis sector in Albania in order for the state to capitalize on legalization and exponentially increase tax revenue.

AUTHOR: DANIEL CIUREA
PHOTO : jcomp / FreePik

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