Financial Leasing

Subject to a financial leasing agreement, the transfer to the lessee, at the end of the lease term, of ownership of an asset by a lessor authorised under Law No. 6361 on Financial Leasing, Factoring and Financing Companies or the relevant legislation for financing purposes; the grant to the lessee of a right to purchase the asset at the end of the term at a price below its market value; the lease term covering more than eighty per cent of the economic life of the asset; or the present value of the lease payments amounting to substantially the whole of the value of the asset.