CON 2026-22 - Local Legal Consultant – Financial and Corporate Frameworks

Introduction

Established in 1951, IOM is a Related Organization of the United Nations and the leading UN agency in the field of migration. Working closely with governmental, intergovernmental and non-governmental partners, IOM promotes humane and orderly migration for the benefit of all. It saves lives and protects people on the move, drives solutions to displacement, and facilitates pathways for regular migration, while providing services and advice to governments and migrants.

IOM is committed to fostering a respectful, inclusive and supportive workplace where all employees can thrive professionally and feel valued. By creating such an environment, IOM aims to better harness the full potential of migration and strengthen its support to people on the move.

IOM invites candidates from diverse backgrounds to apply and provides reasonable accommodation throughout the recruitment process when required. Learn more about IOM’s workplace culture at IOM workplace culture | International Organization for Migration

Project Context and Scope

IOM is seeking a Legal Consultant (Local) for Financial and Corporate Frameworks to assess the Albanian legal, regulatory, and institutional environment relevant to remittance-linked investment mechanisms for the design of the proposed Diaspora Investment Mechanism (DIM). The assignment will identify the national legal parameters, market constraints, and compliance considerations that should inform the DIM’s structure, feasibility, and operational model.

The purpose of this consultancy is to provide legal and regulatory expertise in three core areas: (i) analysis of Albanian financial regulatory frameworks relevant to remittance flows and investment-related financial services; (ii) assessment of legal and institutional barriers affecting the establishment and operationalization of diaspora investment mechanisms; and (iii) review of the regulatory environment of the Bank of Albania (BoA) and the Albanian Financial Supervisory Authority (AFSA) as it relates to the feasibility and compliance requirements of the DIM framework.
- Support analysis of Albanian financial regulatory frameworks relevant to remittance flows and the design of remittance-linked investment mechanisms.
- Assess legal and institutional barriers affecting the feasibility, structure, and operationalization of diaspora investment mechanisms in Albania.
- Support analysis of the BoA and AFSA regulatory environment for financial services relevant to the proposed Diaspora Investment Mechanism.

This consultancy will take place within the IOM Albania project, “Diaspora Investment Mechanism” funded by the UK Foreign, Commonwealth & Development Office (FCDO). Through a strategic partnership with the British Chamber of Commerce in Albania (BCCA), the initiative will develop a Diaspora Investment Mechanism (DIM) that draws on lessons learned from similar models in Albania, the wider region and beyond. The DIM is designed to address the needs, interests, and challenges of both remittance senders and receivers, thereby supporting the diaspora's economic contribution to Albania's sustainable development. The project will foster economic opportunities in Albania, particularly for communities in the northern regions, by supporting local development initiatives that will help address structural factors currently contributing to emigration.

Albania's diaspora, comprising over 1.2 million citizens-more than 44 per cent of the population, of whom 68,814 living in the United Kingdom, represents a vital economic asset and a key driver of sustainable development. In 2024, annual remittance inflows reached approximately EUR €1.045 billion (4.4% of GDP), making them a significant external financial source, though still below foreign direct investment (FDI) of EUR €1.58 billion. According to the World Bank in 2024, USD $205,314.88 were sent in personal remittances from the United Kingdom to Albania. Persistent barriers such as regulatory ambiguities, limited institutional support, insufficient incentives, and inadequate rural infrastructure hinder full diaspora engagement. Diaspora engagement is further constrained by structural, financial, and geographic factors. Bureaucratic complexity, lack of sector-specific incentives, and administrative burdens limit collaboration and investment, while restricted access to reliable market information impedes informed decision-making.

Additionally, 39 per cent of remittances are sent through informal channels, reducing transparency and the potential for formal economic development. Investment is heavily concentrated in Tirana, leaving rural areas underdeveloped and lacking essential infrastructure. In addition to this, Northern Albania has experienced sustained out-migration, including irregular movements to the United Kingdom. Many villages in the north face fragile local economies, heavily reliant on remittances, with some communities vulnerable to criminal networks. To address these issues, this project seeks to strengthen engagement between the UK-based Albanian diaspora and communities in Northern Albania, fostering sustainable development, creating legal alternatives to emigration, and opening pathways for investment, knowledge exchange, and collaboration that benefit both the diaspora and local populations.

Under the direct supervision of the Lead Consultant and overall supervision of the IOM Albania programme management, the Legal Consultant (Local) for Financial and Corporate Frameworks is expected to carry out the following tasks in support of the Scope of the Assignment:
- Support analysis of Albanian financial regulatory frameworks relevant to remittance flows.
- Assess legal and institutional barriers affecting diaspora investment mechanisms.
- Support analysis of the BoA and AFSA regulatory environment for financial services.
- Review relevant Albanian legislation, regulations, and institutional mandates governing financial services, remittances, investment vehicles, and related corporate structures applicable to the proposed DIM.
- Identify legal, compliance, and market considerations that may affect the structure, feasibility, and operational model of the Diaspora Investment Mechanism.
- Provide legal and regulatory input to the Lead Consultant and IOM Albania on options, constraints, and enabling conditions relevant to the design of the DIM.
- Contribute to the preparation of written analytical inputs and recommendations summarising legal, regulatory, and institutional findings relevant to the assignment.

Organizational Department / Unit to which the Consultant is contributing

The consultancy engagement will contribute to the successful implementation of the project Diaspora Investment Mechanism, TK0113.

Responsibilities

Tasks to be performed under this contract

• First deliverable – Regulatory and Legal Framework Analysis – An output presenting the analysis of Albanian financial regulatory frameworks relevant to remittance flows, financial services, and remittance-linked investment mechanisms, including implications for the design of the DIM. (Deliverable by email potentially by 31 July 2026.)
• Second deliverable – Assessment of Legal and Institutional Barriers – An output identifying key legal barriers affecting the feasibility and operationalization of diaspora investment mechanisms in Albania. (Deliverable by email potentially by 07 August 2026.)
• Final deliverable – Regulatory Review and Recommendations – A final output summarising the regulatory environment for relevant financial services, together with practical recommendations to inform the structure, feasibility, and operational model of the Diaspora Investment Mechanism. (Deliverable by email potentially by 18 August 2026.)