What is leasing?
It is a financial lease with the option to buy fixed assets, capital resources, items of transport, equipment, etc. for the self-employed and entrepreneurs.
The owner of the good is the Bank, who at the customer's request, buys it from the supplier chosen by the customer and at the price agreed to between them.
The leasing contract includes an option to purchase the good upon maturity normally for the price of one instalment.
What are the benefits of leasing?
Tax benefits: The VAT of the instalments is deductible according to the customer's tax regime, allowing an early repayment of the good in the corporate tax or personal income tax and a 100% deduction of interest as a financial expense. Furthermore, with property leasing, the customer almost always saves on the Property Transfer Tax, which is up to 7% of the investment.
Economic benefits: Offers the possibility of financing up to 100% of the purchase price, as well as being able to request customised structures, such as: high, increasing, decreasing or cyclical first instalments. The financial/tax effect of the leasing generates savings compared to other forms of financing, which vary depending on the customer's tax situation and the type of good.
What types of leasing are there?
Leasing of Movable Goods: For financing of capital resources: machinery, items of transport, installations, office furniture etc.
Property Leasing: For financing any type of property intended for the development of the activity (warehouses, shops, offices, including property under construction).
Import Leasing: Used to finance production equipment purchased aboard, and includes certain procedures that the Bank can take care of: foreign payments, payment of VAT or IGIC [General Indirect Tax in the Canary Islands], import declarations (INTRASTAT), etc.