Leasing with a standard period of use of the object is called. Types of leasing

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Subjects of leasing

lessor- an individual or legal entity that, at the expense of attracted and (or) own funds acquires property during the implementation of a leasing agreement and provides it as a leased asset to the lessee for a certain fee, for a certain period and under certain conditions for temporary possession and use with or without transfer of ownership of the object to the lessee leasing .

Lessee - an individual or legal entity that, in accordance with the leasing agreement, is obliged to accept the object of leasing for a certain fee, for a certain period and under certain conditions for temporary possession and use in accordance with the leasing agreement.

Salesman- an individual or legal entity that, in accordance with a purchase and sale agreement with a lessor, sells to the lessor within a specified period of time the property that is the subject of leasing . The seller is obliged to transfer the object of leasing to the lessor or lessee in accordance with the terms of the purchase and sale agreement. The seller may simultaneously act as a lessee within the same leasing relationship. Any of the subjects of leasing can be a resident Russian Federation or a non-resident of the Russian Federation.

Leasing companies (firms) — commercial organizations(residents of the Russian Federation or non-residents of the Russian Federation) performing in accordance with the legislation of the Russian Federation and with their founding documents functions of lessors. Foundersleasing companies (firms) may be legal entities, individuals (residents of the Russian Federation or non-residents of the Russian Federation).

Types of leasing

According to the composition of the participants and the way they interact:

· Direct leasing - in which the owner of the property independently leases the object (bilateral transaction).

· Indirect (classic) leasing - The most common form of leasing transaction, when the transfer of property occurs through an intermediary (tripartite or multilateral transaction).

· Leaseback - A special case of direct leasing is leaseback, the essence of which is that the leasing company acquires equipment from the owner and leases it to him.

· Subleasing - A type of sublease of a leased asset, in which the lessee, under a leasing agreement, transfers to third parties (lessees under a subleasing agreement) the property previously received from the lessor under a leasing agreement for possession and use.

· Leveraged Leasing - Leasing with the attraction of funds from several lessors. Occurs when leasing transactions due to their scale cannot be financed by one or even two lessors.

By type of property are distinguished:

• leasing of movable property;
• leasing of real estate;
• leasing of property that was in operation.

According to the degree of payback, there are:

• leasing with full payback, in which during the term of one contract there is a full payment of the value of the property;
• leasing with incomplete payback, when during the term of one contract only a part of the cost of the leased property is paid off.

According to the terms of depreciation, there are:

• leasing with full depreciation and, accordingly, with full payment of the cost of the leasing object;
• leasing with incomplete depreciation, i.e. with partial payment.

According to the degree of payback and depreciation conditions, there are:

• financial leasing, i.e. during the term of the lease agreement, the tenant pays the lessor the entire cost of the leased property (full depreciation). Financial leasing requires large capital investments and is carried out in cooperation with banks;
• operational leasing, i.e. the transfer of property is carried out for a period less than the period of its depreciation. The contract is concluded for a period of 2 to 5 years. The object of such leasing is usually equipment with a high rate of obsolescence.

The scope of service is:

• pure leasing, if the lessee undertakes all maintenance of the leased object;
• leasing with a full range of services - full maintenance of the object of the transaction is assigned to the lessor;
• leasing with a partial set of services - the lessor is entrusted with only certain functions for servicing the leased asset.
• General leasing (most represented abroad) - Allows, with the constant cooperation of the lessor with the lessee, to conclude a general agreement on the provision of a leasing line, according to which the lessee, if necessary, can take additional property without concluding a new contract each time.

Depending on the sector of the market where transactions take place, there are:

• domestic leasing - all market participants represent one country;
• international leasing - at least one of the parties or all parties belong different countries and also if one of the parties is a joint venture.

External leasing is divided into export and import leasing. With EXPORT leasing foreign country is the lessee, and in case of IMPORT leasing - the lessor.

In relation to tax and depreciation benefits, there are:

• fictitious leasing - the transaction is speculative in nature and is concluded in order to extract the greatest profit by obtaining unreasonable tax and depreciation benefits;
• Valid Lease – The landlord is entitled to tax benefits such as an investment allowance and accelerated depreciation, and the tenant can deduct rental payments from taxable income.

By the nature of leasing payments, there are:

• leasing with cash payment – ​​all payments are made in cash;
• leasing with a compensation payment - payments are made by the supply of goods produced on this equipment, or in the form of a counter service;
• leasing with mixed payment.

Existing forms of leasing can be combined into two main types: operational and financial leasing.

OPERATIONAL LEASING is a lease relationship in which the lessor's expenses related to the acquisition and maintenance of leased items are not covered by rental payments during one lease contract.

Operational leasing is characterized by the following main features:

• the lessor does not expect to recover all its costs through the receipt of lease payments from one lessee;
• a leasing contract is concluded, as a rule, for 2-5 years, which is much less than the period of physical deterioration of the equipment, and can be terminated by the lessee at any time;
• the risk of damage or loss of the object of the transaction lies mainly with the lessor. The leasing agreement may provide for a certain liability of the lessee for damage to the property transferred to him, but its amount is significantly less than the original price of the property;
• lease payment rates are usually higher than in financial leasing. This is due to the fact that the lessor, without having full guarantee cost recovery, is forced to take into account various commercial risks (the risk of not finding a tenant for the entire volume of available equipment, the risk of a breakdown of the transaction object, the risk of early termination of the contract) by increasing the price of their services;
• the object of the transaction are mainly the most popular types of machinery and equipment.

With operational leasing, the leasing company purchases equipment in advance, without knowing the specific tenant. Therefore, operating leasing firms must have a good knowledge of the market for investment goods, both new and used. Leasing companies in this type of leasing themselves insure the leased property and provide its maintenance and repair.

At the end of the lease agreement, the lessee has the following options for terminating it:

• Extend the term of the contract on more favorable terms;
• Return the equipment to the lessor;
• Buy equipment from the lessor if there is an agreement (option) to purchase at fair market value. Since at the conclusion of the contract it is impossible to determine in advance the residual market value object of the transaction at the end of the leasing contract, then this provision requires leasing firms to have a good knowledge of the market conditions for used equipment.

With the help of operational leasing, the lessee seeks to avoid the risks associated with owning property, for example, obsolescence, a decrease in profitability due to changes in demand for manufactured products, equipment breakdowns, an increase in direct and indirect non-production costs caused by repairs and downtime of equipment, etc.

Therefore, the lessee prefers operational leasing in cases where:

• the expected income from the use of the leased equipment does not pay off its original price;
• equipment is required for a short period of time (seasonal work or one-time use);
• equipment requires special maintenance;
• the object of the transaction is new, untested equipment.

The listed features of operational leasing determined its distribution in such industries as agriculture, transport, mining, construction, electronic information processing.

FINANCIAL LEASING- this is an agreement that provides for the payment of lease payments during the period of its validity, covering the full cost of depreciation of equipment or a large part of it, additional costs and profits of the lessor.

Financial leasing is characterized by the following main features:

• participation of a third party (manufacturer or supplier of the object of the transaction);
• the impossibility of terminating the contract during the so-called main lease term, i.e. the period necessary to reimburse the lessor's expenses. However, in practice this sometimes happens, which is stipulated in the leasing agreement, but in this case the cost of the operation increases significantly;
• a longer period of the leasing agreement (usually close to the service life of the transaction object);
• the objects of transactions in financial leasing, as a rule, are of high cost.

Just like with operational leasing, after the expiration of the contract, the lessee can:

• buy the object of the transaction, but at the residual value;
• conclude a new contract for a shorter period and at a reduced rate;
• return the object of the transaction to the leasing company.

The lessee informs the lessor about his choice 6 months or in another period before the expiration of the contract. If the contract provides for an agreement (option) to purchase the subject of the transaction, then the parties determine the residual value of the object in advance. It usually ranges from 1 to 10% of the original cost, which gives the lessor the right to charge depreciation on the entire cost of the equipment.

Since financial leasing is similar in economic terms to long-term bank lending of capital investments, a special place in the financial leasing market is occupied by banks financial companies and specialized leasing companies closely associated with banks. In a number of countries, banks are only allowed to engage in financial leasing. The legislation of these countries establishes the requirements that lease relations must meet in order for them to be classified as financial leasing.

We have considered two main types of leasing. In practice, there are many forms of leasing transactions, but they cannot be considered as independent types of leasing operations.

The forms of leasing transactions are understood as well-established models of leasing contracts. The most widespread in international practice are the following forms of leasing operations:

LEASING "STANDARD". Under this form of leasing, the supplier sells the object of the transaction to a financing company, which, through its leasing companies, leases it to consumers.

At LEASE BACK the owner of the equipment sells it to a leasing company and at the same time leases this equipment from him. As a result of this transaction, the seller becomes a tenant. Leaseback is used in cases where the owner of the object of the transaction is in dire need of Money ah and with the help of this form of leasing improves their financial condition.

LEASING TO "SUPPLIER". In this case, the seller of the equipment also becomes a lessee, as in a leaseback, but the leased property is not used by him, but by other tenants, whom he is obliged to find and lease the object of the transaction to them. Sublease is prerequisite in contracts of this kind.

BACKUP LEASING. With this form of leasing, rental payments are made by suppliers of products manufactured on equipment that is the object of a leasing transaction.

RENEWABLE LEASING. The leasing agreement under this form provides for the periodic replacement of equipment at the request of the tenant with more advanced models.

FINANCIAL LEASING. This form of leasing provides for the lessor to receive a long-term loan from one or more creditors in the amount of up to 80% of the leased assets. Creditors in such transactions are large commercial and investment banks which have significant resources attracted on a long-term basis.

Financing of leasing transactions by banks is carried out mainly in two ways:

• loan. The bank lends to the lessor, providing him with a loan for one leasing operation or, more often, for a whole package of leasing agreements. The loan amount depends on the reputation and creditworthiness of the lessor;
• acquisition of liabilities. The bank buys from the lessor the obligations of its customers without the right to recourse (reverse claim), while taking into account the reputation of the lessees and the effectiveness of the project. This method is used for large one-time transactions involving reliable borrowers. When organizing project financing with the participation of a leasing company, banking institutions also act as guarantors. The collateral for a bank loan when it is received by the lessor (without the right to reclaim the lessee) are the objects of the leasing transaction and lease payments.

Leasing with fundraising is also called investment-type or third-party leases. To reduce the risk of payment, the lessor's creditors include a special clause in leasing contracts that provides for an absolute and unconditional obligation to make payments in deadlines and in cases of equipment failure due to the fault of the lessor. Payments are not suspended, and the lessee makes claims to the lessor.

When leasing large-scale objects (aircraft, ships, drilling platforms, towers), group (shareholder) leasing is most often used. In such transactions, several companies act as the lessor.

CONTRACT HIRE- this is a special form of leasing, in which the lessee is provided with complete fleets of machines, agricultural, road-building equipment, tractors, vehicles.

GENERAL LEASING– the right of the lessee to supplement the list of leased equipment without entering into new contracts. In practice, there is a combination various forms contracts, which increases their number.

The rapid growth of leasing operations is explained by the presence of a number of advantages.

The advantages of the lessee are:

• financing of the deal at fixed rates;
• the possibility of expanding production and adjusting equipment without large costs and attracting borrowed funds;
• the cost of purchasing equipment is evenly distributed over the entire term of the contract. Funds are released for other purposes;
• protection against obsolescence (obsolescence) - leasing contributes to the rapid replacement of old equipment with more modern ones, reduces the risk of obsolescence;
• not involved borrowed capital; the balance sheet maintains an optimal ratio of equity and debt capital;
• lease payments are linked to the profitability of using equipment received under leasing;
• maintenance and repairs can be undertaken by the lessor;
• the ability to upgrade equipment without significant costs;
• tax incentives and investment incentives;
• purchase of equipment at the end of the contract;
• in case of operational leasing, the risk of equipment destruction lies with the lessor;
• high flexibility, leasing allows you to quickly respond to market changes;
• lease payments are not included in a country's external debt indicator.

The advantages of the lessor (bank) in a leasing transaction include:

• expansion of the sphere of application of banking capital;
• relatively less risk than providing bank loans;
• tax incentives;
• the possibility of establishing closer contacts with equipment manufacturers, which creates additional terms for business cooperation.

For the supplier, the benefits of leasing come down to expanding sales opportunities and getting cash.

Renting

Renting is a short-term lease of property without the right of its subsequent acquisition by the tenant.

The main classification features and types of leasing are shown in Table 1.

Table 1. Classification of types of leasing

	Classification signs	Types of leasing
	Form of organization of the transaction	Direct, indirect, returnable, leasing to a supplier, subleasing
		Leasing of movable property, real estate leasing
	Trade duration	Operational, renewable, revolving, financial, leverage leasing, group
	Service scope	Clean, Packaged, Partial, General
	Market scope	Internal External
	Depreciation terms	With full depreciation, with incomplete depreciation
	Type of lease payments	Cash, compensation, combined
	Attitude towards tax credits	fictitious, real

Direct leasing- a type of leasing, in which the functions of the supplier and the lessor are performed by one person, that is, the manufacturer himself, without intermediaries, leases the object.

Indirect leasing- a type of leasing in which there is an intermediary between the supplier and the recipient - the lessor. Most transactions are based on indirect leasing.

Return lease- a type of leasing, in which the functions of the supplier and the recipient are combined, that is, the owner company sells the object to the lessor and immediately takes this object back into leasing. As a result, the lessor, as it were, gives a loan secured by the object to the original owner.

Subleasing- this is “a type of sublease of the leased asset, in which the lessee, under the lease agreement, transfers to third parties for possession and use for a fee and for a period in accordance with the terms of the subleasing agreement the property previously received from the lessor under the lease agreement and constituting the subject of the lease”. When transferring property to subleasing, the consent of the lessor in writing.

At real estate leasing the lessor acquires or builds real estate on behalf of the future lessee and transfers it to him for commercial purposes.

Leasing of movable property assumes as objects of leasing machine tools and equipment, vehicles, computers.

Operational leasing- a type of leasing, in which the object is transferred to the lessee for a period significantly less than the standard service life of the object. Allocation of operational leasing in separate view leasing in the conditions of Russia is estimated ambiguously. In civil law there is no definition of operational leasing. In the latest edition of the Federal Law "On Financial Leasing (Leasing)", operational leasing is excluded as a type of leasing. Operational leasing is very similar to simple lease relations and is regulated by the general rules of the Civil Code of the Russian Federation on lease, which are not related to leasing.

Revolving lease- a type of leasing in which the lessee is granted the right, after a certain period of time, to exchange the property received under leasing for another one that he needs.

Revolving lease involves the periodic replacement of property at the request of the lessee with new, more advanced models.

Leverage leasing- a type of financial leasing, the peculiarity of which is the combination of several credit organizations to finance large leasing projects.

Leasing in a package is a type of leasing that provides for a comprehensive system of maintenance, repair, and insurance offered by the lessor.

Internal leasing involves leasing transactions between residents of the same country.

Fictitious leasing is speculative in nature and is designed to use tax and other benefits in force in the country, while in its economic essence it is not a leasing transaction, but rather a transaction for the purchase and sale of property in installments.

Leasing operations are equated to credit operations and are governed by the same rights and norms as credit operations. However, leasing differs from a loan in that after the end of the leasing term (agreement) and the payment of the entire amount stipulated by the agreement, the sale of leasing remains the property of the lessor (unless the agreement provides for the redemption of the leasing object at the residual value or transfer to the ownership of the lessee). With a loan, the bank reserves the right of ownership of the object as a pledge of the amount.

General scheme leasing transaction and financial flows is shown in fig. one.

Rice. 1. General scheme of the leasing transaction and financial flows

There are two types of leasing:

- internal, when the lessor, lessee and seller (supplier) are residents of the Russian Federation;

- international, when the lessor or lessee is a non-resident of the Russian Federation.

If the lessor is a resident of the Russian Federation, i.e. the subject of leasing is owned by a resident of the Russian Federation, then the international leasing agreement is regulated by the Federal Law "On Leasing" and the legislation of the Russian Federation.

If the lessor is a non-resident of the Russian Federation, i.e. the subject of leasing is owned by a non-resident of the Russian Federation, then the international leasing agreement is regulated by federal laws in the field of foreign economic activity.

The main types of leasing include long-term leasing, carried out for three or more years, medium-term leasing, carried out for one and a half years, and short-term leasing, carried out for one and a half years.

Main types of leasing: financial, returnable and operational.

Financial leasing is characterized by a long contract term (from 5 to 10 years) and depreciation of all or most of the cost of equipment. In fact, financial leasing is a form of long-term purchase credit. After the expiration of the financial leasing contract, the tenant can return the leased object, extend the agreement or conclude a new one, and also buy the leased object at the residual value (usually it is purely symbolic).

In addition, according to the objects of transactions, leasing is divided into leasing of movable (road, air and sea transport, wagons, containers, communications equipment) and immovable (commercial and office buildings, industrial premises, warehouses) property. In real estate leasing, the lessor builds or buys real estate on behalf of the tenant and provides it to him for economic and industrial use. Just as in transactions with movable property, the contract is usually concluded for a period less than or equal to the depreciation period of the object. The tenant bears all risks, costs and taxes during the term of the contract. The risk of accidental loss or accidental damage to the leased property passes to the tenant. The responsibility of the lessee for these risks occurs at the moment of transfer of the leased property to him, unless otherwise provided by the financial lease agreement.

In relation to the leased property, one can single out a pure leasing agreement, when the tenant assumes additional costs for servicing the leased property, and a full leasing agreement, if maintenance, repair, insurance, etc. lie with the lessor. In this case, one speaks of leasing, which includes additional obligations.

The subject of this type of leasing is, as a rule, invested specialized equipment, some types of construction equipment, etc. Financial institutions and banks rarely use this type of leasing, as they do not have the necessary technical base.

Based on the peculiarities of the organization of relations between the borrower and the leaser, direct leasing is allocated, when the manufacturer or owner of the property acts as a person leasing it, and indirect, in which leasing is carried out through a third party.

According to the method of financing, there is a difference between fixed-term leasing, in which a one-time lease is carried out, and renewable (revolving), in which the leasing agreement continues after the expiration of the first term of the contract.

In practice, other types of leasing are also used.

returnable leasing is a type of financial leasing, in which the seller (supplier) of the leased asset simultaneously acts as a lessee. At the same time, leaseback federal law"On leasing" is called one of the main independent types of leasing. It consists in the sale by the owner ( industrial enterprise) equipment of the leasing company with the simultaneous conclusion of a leasing agreement for this equipment as a user. There are only two participants in such an operation: the tenant of the property (the former owner) and the leasing company (the new owner). As a result, the original owner receives the full cost of the equipment from the leasing company, retains ownership and periodically pays for the use of the equipment. Such a transaction allows the enterprise to receive funds through the sale of means of production, without stopping their operation, and use them for new capital investments. The profitability of this operation will be the higher, the income from new investments
more than the amount of rent. Leaseback operations cause a decrease in the balance sheet of the enterprise, as they lead to a change in the ownership of the property.

Such a deal can also be resorted to when the company has a rather low level of income and, therefore, it cannot fully benefit from the benefits of accelerated depreciation and profit taxation. It makes a deal, and the leasing company receives its tax benefits. In response, she lowers the rent.

Operational Leasing involves the transfer to use of reusable property for a short and medium term, usually shorter than the economic life of the property (depreciation period). In this case, the tenant, subject to a certain period of the contract, has the right to terminate the contract.

After the expiration of the term, the equipment may become the object of a new leasing contract or be returned to the lessor. Usually, construction equipment (cranes, excavators, etc.), transport, computers, etc. are rented out for operational leasing. Quite often, the leasing company undertakes the maintenance of the leased object, i.e. routine maintenance, insurance. Thus, it carries out full-service leasing or partial-service leasing (the contract stipulates the separation of obligations).

In addition, a leasing agreement is distinguished with a full payment and a partial one. In full payment leasing, the leasing company recovers its cost of the equipment during the contract, i.e. the amount of periodic payments is calculated in such a way as to compensate for the cost of equipment and bring profit. Financial leasing is usually carried out with full payment.

Leasing with partial payment implies the return by the leasing company of only part of the cost of the equipment during the period of the contract. An operating lease is an example of a partial payment lease. The same equipment is rented out by the leasing company for temporary use several times and as a result all expenses of the company are compensated.

The Federal Law "On Leasing" (Article 15) names two more types of leasing - complex and mixed, but they are not defined.

Since often a leasing company does not have enough own funds to carry out leasing operations, it can attract them from outside. Such an operation has learned the name of leasing with additional attraction of funds - leverage (credit, share, separate). It is estimated that in the West over 85% of all leasing transactions are fundraising leasing, i.e. based on leverage-leasing. The lessor takes out a long-term loan from one or more lenders for up to 80% of the value of the leased assets (non-recourse to the lessee), with the rent and equipment serving as collateral for the loan. The main lessor receives a preferential right to receive rental payments. The contract usually stipulates that in the event of bankruptcy of the third link (intermediary), the rent will go directly to the main landlord. Such transactions are called subleasing.

So subleasing is special kind relations that arise in connection with the assignment of the rights to use the subject of leasing to a third party, which is formalized by a subleasing agreement. In case of subleasing, the person carrying out this operation accepts the object of leasing from the lessor under the leasing agreement and transfers it for temporary use to the lessee under the subleasing agreement. In this case, the consent of the lessor in writing is required. Assignment by the lessee of its obligations to pay payments to a third party is not allowed.

With international subleasing, the transfer of the leased asset across the customs border of the Russian Federation is possible only for the duration of the subleasing agreement.

A variety of leasing are double-din transactions used in the international sphere. Their meaning lies in the combination of tax benefits in two or more countries. For example, in the early 80s. the acquisition of a number of aircraft was credited "double din" between the US and the UK. The benefits of tax credits are greater in the UK if the landlord has title to the property, and in the US it is greater if the landlord has only title to the property. A leasing company in the UK buys an aircraft, leases it to an American leasing company, which in turn leases it to local airlines.

IN Lately the practice of including an agreement between equipment manufacturers and leasing companies has become widespread. In accordance with these agreements, the manufacturer, on behalf of the leasing company, offers customers financing for the supply of their products through leasing. Thus, the leasing company uses trading network supplier, and the supplier expands the boundaries of product sales. These are deals that have come to be known as “sales assistance.”

With constant and close cooperation between enterprises and leasing companies, it is possible to conclude agreements on the provision of a "leasing line". These agreements are similar to bank lines of credit and allow the tenant to borrow optional equipment leasing without concluding a new contract each time.

Hello! In this article, we will talk about what leasing is and how to use it. In a difficult economic situation, when banks demand exorbitant interest on loans, and rent as a type of transaction is not suitable for a number of reasons, enterprises or individual entrepreneurs are increasingly turning to leasing companies. The goal is to purchase equipment, transport, real estate on favorable terms. What is leasing for individuals and legal entities? What are the types of leasing? What are the benefits of such a deal? You will learn about all this in this article!

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What is leasing in simple words

Leasing It's the same rent. (Translated from English "lease" - "rent"). But there are a number of significant differences.

Let's look at the scheme with an example:

The enterprise or entrepreneur does not have enough funds to purchase equipment. You can take a loan with high interest, or you can ask to buy necessary equipment leasing company. She, in turn, considers the proposal, evaluates the profit for herself. If approved, the lessor leases the acquired property to the enterprise under a special agreement.

Under the terms of this agreement, the lessee pays the company every month a certain amount (leasing payments), as for rent. After a certain period, you can buy equipment, real estate or a car by paying the residual value.

As can be seen from the example, three parties are involved in the leasing process:

• Property recipient- a person (individual or legal), to whom the object of leasing is leased for some time, with the possibility of its full redemption;
• Leasing company– the party acquiring the equipment: real estate, vehicles, equipment or the whole enterprise.
• Salesman– the party that sells the above valuable property.

Sometimes two parties are enough if the owner of the property acts as a lessor. In many cases, you will need another party - the insurance company.

The purpose of leasing for the enterprise- expand production, modernize technologies, which will lead to an increase in profits.

The lessor, on the other hand, benefits from the difference between the market price of the property and its value after the leasing operation. The seller of equipment, real estate, vehicles gets the opportunity to quickly sell expensive equipment, real estate, vehicles, and so on.

According to the law of the Russian Federation, it is possible to lease (broadcast) property:

• Automobile transport;
• Real estate;
• Equipment;
• Enterprises.

Some objects are prohibited, for which special conditions of use are applicable by law, for example, military items. It is impossible to lease such property:

• Without an individual or serial number (for example, when the vehicle does not have a VIN);
• Withdrawn from circulation;
• Natural resources and land plots.

Leasing companies set their own limits. They depend on the policy of the lessor and on the items themselves. There are also parameters common to all for objects that are not provided for leasing:

• Having low liquidity;
• Unreliable manufacturer;
• A used item for a period of more than 5-7 years.

The basic rule is that all leasing items are purchased in order to use them in the process of any commercial business.

Types of leasing

In accordance with the timing and economic entity contracts, there are three main types of leasing:

• returnable;
• Operating;
• Financial.

There are also leasing of real estate, equipment, vehicles and others.

According to the degree of risk, leasing transactions are divided into three types:

1. Guaranteed– risks are distributed among several parties – guarantors of the transaction;
2. unsecured- the lessee does not provide any guarantees for the fulfillment of its obligations;
3. Partially secured- having an insurance contract.

Description of the main types of leasing

Return lease

This is a special kind of deal. In this case, the lessee and the seller of the property are one person. The enterprise enters into an agreement with a leasing company on the transfer of its property into ownership for a certain amount and immediately acts as a lessee. At the same time, the production process does not stop - the equipment is not withdrawn. The company received a large amount, which can immediately be used to increase profits or for other needs. At the same time, he pays small payments every month. Such a transaction looks like a loan secured by property, but there is no interest in the bank.

Leasing back is beneficial for businesses that need additional funds for development. After all, there is an opportunity to receive money from the leasing company and at the same time the equipment will not be lost, and the production process will continue.

But there is a significant downside. Special attention is focused on leaseback transactions tax services. They may consider such agreements as one of the ways to avoid taxes. But if the transaction is carried out in accordance with all financial and legal rules, and the agreement is justified by economic feasibility, then the fiscal authorities will not have a basis for a fine.

The tax service compares the terms of leasing and a possible loan. If it turns out that a loan is more profitable for an entrepreneur, then the Federal Tax Service suspects tax evasion.

Here are the terms of transactions that attract the attention of fiscal authorities:

• The leaseback agreement is signed by two mutually dependent parties. By law, this is possible, but in practice the Federal Tax Service does not pay VAT refunds precisely for this reason;
• The parties to the transaction used promissory notes, checks and other non-cash methods for settlement;
• One of the parties to the agreement had previously been seen in the unfair payment of tax.

Operational leasing

This is a transaction in which the term of use of the property is much longer than the drawn up term of the contract. The rate is higher than in the case of financial leasing. As a matter of fact it is possible to draw a parallel with ordinary rent.

The leasing company bears full responsibility for the subject of the contract. In other words, repair maintenance and insurance. The recipient of the leased asset does not bear any responsibility. All risks associated with the death or loss of the leased asset are borne by the company.

The recipient of the object of leasing may terminate the contract with the company if an unusable object has been presented.

At the end of the operating lease agreement, the lessee may:

• Change the object to another;
• Leave the property to the lessor;
• Conclude another contract;
• Buy property and become its owner.

Operating leasing has a positive effect on the dynamics production process. After all, the equipment is updated.

The concept of financial leasing

financial leasing – means of raising money for a specific purpose. The terms of use of the leased asset are equal to the terms of the contract. By the end date of the agreement, the value of the property is close to zero. More often the lessee wishes to receive such property in the property, especially by the end of the lease it costs practically nothing.

The main features and conditions of financial leasing:

• The lessor purchases property specifically for leasing it, and not for its own use;
• The buyer chooses the property and the seller;
• The seller is aware of the existence of a leasing agreement, but the subject of the agreement is delivered to the buyer, and he takes it into operation;
• The lessee sends all claims regarding the quality of equipment, machinery, transport to the seller, bypassing the lessor;
• In case of damage to the subject of leasing, it passes to the buyer after signing the act of acceptance and commissioning.

Stages of concluding a leasing transaction

Despite the fact that the process of obtaining an object for leasing is considered a simple transaction, you need to carefully consider all stages of its implementation.
Key steps to a successful leasing deal:

1. Choosing a leasing company . Better give preference large organizations, which are subsidiaries of well-known financial institutions. We advise you to use Europlan on favorable conditions leasing.

2. Studying all the proposed terms of the contract . Before signing the contract, it is necessary to find out: the initial and monthly payment amount, the payment schedule, the conditions under which the transaction is terminated, as well as the characteristics of the transferred property.

3. Drawing up a contract . Before that, the leasing company may require the following documents from the client:

• statement of intent to lease a certain object;
• an extract from the bank on the turnover of the enterprise for the last time;
• financial statements for the last 4 months;
• copies of documents of the head of the business;
• agreement with the supplier;
• documents confirming the insurance of the leasing object.

The lessor may require other documents and papers - it depends on the type of transaction and the company itself.

4. Then comes the first installment . After this operation, the enterprise receives the object of the contract for use.

- one of the most profitable ways that allows the company to increase production without high costs, build new workshops, update technologies through the purchase of technical innovations.

You can buy everything you need for the operational work of the office, computer equipment. IN agriculture buy new machines for harvesting, collecting milk, butchering meat. IN restaurant business purchase the necessary equipment for trade. Such leasing is also beneficial for the woodworking, gas, and oil refining industries.

The main advantages of using equipment leasing :

• Allows the enterprise or individual entrepreneur to develop, even if they have part of the money to buy new equipment;
• Payments are evenly distributed over the months according to a personal schedule, there is no need to pay the entire cost at once;
• The objects of leasing are received for use immediately, and after signing the contract they can participate in the production process;
• Monthly payments are covered by profits that will come from the use of new equipment, workshops;
• Payments are related to cost, which results in a lower income tax base;
• Savings by reducing property tax payments. This is due to accelerated depreciation. After the term of the contract, it turns out that the object of leasing costs almost nothing.

Car leasing

Buying a car on lease can be both legal and individual. It's comparatively the new kind transactions for the population of Russia, but for last years rapidly progressing in its distribution.

Let us examine in more detail the question of what is leasing for individuals. In fact, any citizen of the Russian Federation can purchase a car, as if for rent. One difference is that you can become the owner of the vehicle at the end of the contract.

The motorist gets the opportunity to use vehicles after the transaction is completed and the first installment is made. Such procedures can be drawn up not only by special leasing companies, but also by banks and car dealerships.

What is the procedure for leasing a car?

1. The client provides an identity card and a driver, fills in the necessary documents;
2. An agreement is concluded between the parties: the future car owner and the lessor. The document gives the right to use transport with its subsequent redemption. A contract of sale is also concluded between the seller (transport supplier) and the company (bank) that has assumed the obligations of the lessor;
3. The recipient of the rental car pays the first 20-30% installment from total cost under contract;
4. The subject of leasing (car) must be insured under two packages: OSAGO and CASCO;
5. The leasing company assumes the costs and hassle of registering a car with the traffic police and carrying out maintenance;
6. After all the above points, the transport passes into the use of the lessee, but not into possession. The owner is a leasing company, which can be a car dealer, bank and other financial institution;
7. The car user pays monthly amounts, and after the expiration of the contract, the vehicle can be taken over. You can also exchange for a new car.

Advantages of car leasing

1. You can buy not only a car, but also trucks, special equipment;
2. It doesn't matter if a used car or new cars were purchased on lease from a dealership or from a private person;
3. The minimum package of documents for a leasing transaction;
4. The level of requirements for the client is lower than when applying for a loan;
5. The lease term is up to 5 years, after this period the client can become the owner, for this you need to pay the remaining amount;
6. You can return the object of leasing - a car ahead of schedule;
7. You can immediately use the car after the transaction.

Cons of car leasing

1. Interest for car leasing agreements is higher than for a loan, especially for vehicles of an average price category;
2. In case of violation of the leasing payment schedule, the car is withdrawn;
3. The car is not property and it cannot be rented out, used as collateral without the consent of the official owner - the leasing company;
4. For periodic inspection you need to provide the car to the leasing company.

Before deciding on the method of purchasing a car, you need to carefully study all the factors, weigh all the pros and cons, and find out all the profitable offers of banks.

Real estate leasing is a cross between a lease and a mortgage. The essence of the process is the same as with other types of leasing. The company buys the property chosen by the client. Then, the leasing organization leases this living space to him. The client is obliged to pay monthly amounts for the use of leasing.

Real estate leasing for individuals

An apartment on lease for the general population has not yet become widespread. Maybe the fact is that people want to see real estate in their possession immediately, and not in 15-20 years. Psychologically, it is much calmer when the apartment becomes the property immediately, as, for example, with a mortgage.

When registering real estate on credit, the buyer gets the opportunity to use and own square meters, the right to dispose will come after the last payment. With leasing, a person has only one right - to use the living space. All other rights will come into force after the expiration of the contract and payment of the residual value.

Purchasing a house or apartment on lease has a number of other disadvantages. in:

• Most often, a mortgage agreement is cheaper than a leasing agreement;
• Two transactions are made: one of them is for the sale and purchase between the leasing company and the seller, the second is between the citizen and the leasing company. As a result, more funds are spent on clearance. These costs are most often borne by a person who wants to purchase an apartment.

What are the benefits of leasing real estate for individuals?

It's all about the reliability of the transaction for the parties to the contract. With a mortgage for a bank, there is a risk that the client will not fulfill all obligations. Then you have to accept additional measures which bear the cost of financial institution. Whereas the leasing company is already the owner of the living space and does not lose anything in the event of the client's insolvency. Therefore, she is more loyal to delays in payments and considers all options for payments that an individual offers her.

Leasing companies do not care about the credit history of her client. Therefore, this type of apartment acquisition is suitable for citizens who have been denied a bank loan.

The acquisition of housing on lease is also attractive to those people who do not want to cover their property in ownership and pay taxes on it. For example, this option can be considered if the couple is in an unstable relationship and one of the parties is afraid of losing part of the property during the division.

There are many scammers among real estate leasing companies, so an ordinary citizen should carefully choose an organization. It is best to pay attention to leasing companies that are subsidiaries of a large bank.

Real estate leasing for legal entities

The situation is different with the leasing of commercial real estate for persons engaged in entrepreneurial, financial activity. This type of transactions has existed for a long time and is in demand. This is primarily related to profitable schemes taxation.

Not putting real estate on the balance sheet is always beneficial for any enterprise, in particular for the following reasons:

• You can count on a refund of value added tax;
• The accounting department considers leasing payments as expenses, thus profit is not underestimated and the corresponding tax is reduced;
• Property tax may not be paid at all - the property is not listed on the balance sheet of the enterprise and does not belong to it.

That is why the acquisition of square meters with the help of leasing is much more attractive for the enterprise than a commercial mortgage agreement.

Leasing or credit - which is more profitable

For clarity, we present comparison table with the same comparative characteristics on loans and leasing.

Comparison of credit and leasing

Characteristics for comparison	Leasing	Credit
Who can use	legal entity, natural person engaged in commercial activities(IP)	any natural or legal person
Who is the owner	during the term of the contract, the owner is the lessor, at any time he can withdraw the property	after the transaction, the owner of the acquired property is immediately the enterprise or individual entrepreneur
Payments	- monthly payments: — payment of the margin of the leasing company; — insurance premiums; — tax on leased property; – advance payment is 20-30% of the cost	- payments on the loan (interest on the loan, insurance); – payment for maintenance of a loan account, property valuation is possible; - there may be no initial payment
Past histories of property acquisition	it is not necessary to have any (positive, negative) history of leasing property	positive credit history
Depreciation	the possibility of applying accelerated depreciation (except for cars worth more than 300 thousand rubles and minibuses - more than 400 thousand rubles - a coefficient that reduces depreciation is applied for them)	normal depreciation plan
taxes
VAT	VAT is included in lease payments	Money received on credit is not subject to VAT. The tax imposed by the supplier can be deducted by the lessee after he acquires the property
Property tax	the property is on the balance sheet of the leasing company, therefore it cannot be subject to property tax. if the property is on the balance sheet of the enterprise, then the property tax is reduced due to the rapid depreciation provided for leasing	the property is immediately the property of the enterprise, which means that it is taxed

The advantage of leasing over a loan is not always obvious. Each specific case must be considered separately from all sides. without legal and financial assistance not enough.

On a specific example, we will analyze the leasing of a car of a famous brand. The conditions offer payments 30% less than for a loan. But there is one more point - in order to receive such a favorable offer after the term of the contract, the car must be returned to the seller. If you buy it out completely, then the overpayment will be higher than for the proposed loan.

Taxes and depreciation

When determining the income tax base, the enterprise (lessee) classifies lease payments as expenses. This is described in detail in article 264 of the Tax Code in paragraph 1 of subparagraph 10.

It is possible, under the terms of the agreement, to attribute property to the balance sheet of the enterprise, then the amount of depreciation is deducted from the amount of leasing payments.

When the property is not on the balance sheet of the enterprise, then it is taken into account by the lessor. In this case, the cost of the object of the contract is deducted from the sum of all expenses for payments for leasing. According to the law, the income tax base does not take into account the costs of acquiring property subject to depreciation. This is the redemption value of the leased asset, and it is written off gradually with the help of depreciation.

There are cases when the amount of the redemption value is not clearly stated in the contract. Specialists of the Ministry of Finance in this case propose to include in the initial cost all amounts of leasing payments. After the property rights are transferred to the enterprise, accrue payments as expenses through depreciation.

An enterprise or individual entrepreneur can challenge this position, because there is no mention of a redemption price in the law and the Tax Code. Article 264 of the Tax Code states that all lease payments are classified as other expenses. An exception is depreciation accrued by the enterprise.

There is also a special procedure for calculating the cost of depreciable property in leasing operations. This is indicated in article NK 257. The initial cost of property includes the cost of delivery, construction, acquisition, bringing to a state suitable for use. This means that for the parties to the leasing agreement, the initial cost of the leased asset will not differ.

It turns out that if the lessor fully repays the value of the property through depreciation, then by the end of the contract he transfers the subject of the contract to the enterprise with zero residual value.

If the property is not fully depreciated, then it passes to the other party to the contract at the cost that will remain after depreciation is charged. This part will be written off as expenses from the enterprise through depreciation. Therefore, if the lessee accumulates the redemption value, then he will not be able to write it off, since depreciation is not charged on it.

It turns out that it is more profitable not to divide the lease payment, but to fully attribute it to other expenses.

Depreciation

Accelerated depreciation rates apply to property acquired on lease. In politics for tax accounting the company must specify the method of calculating depreciation.

Leasing payments include VAT, so in the future the company can offset it from the budget in accordance with Articles 171-172NK.

When buying on credit, the cost of VAT will be less than with a leasing transaction. This happens because in case of leasing, the basis for calculating VAT includes not only the value of the property, but also the price for the services of the lessor.

Renting and leasing - similarities and differences

Leasing is just like renting from the outside. Leasing is often referred to as a finance lease. In fact, in both cases, the main subjects of the transaction are two clients. One needs a certain expensive item, but there is no whole amount to buy it. Another customer has the funds to purchase the item and can rent it out at a premium for a profit.

However, this is only the outer side. In fact, these two operations have many differences.

The main difference is the ability to take into account equipment during leasing, both on the balance sheet of the leasing company and on the balance sheet of the enterprise. When renting, the object is shown on the off-balance accounts of the recipient of the object.

Differences and Similarities Between Leasing and Renting

Characteristics for comparison	Leasing	Rent
Timing	usually a long term deal. The term is equal to the useful use of the leased asset	provision of a leased item for a short period that is not related to its useful life
Ability to use land	not provided	maybe
Redemption of the item at the end of the contract	can	it is forbidden
Type of property right	use
Legal regulation	Chapter 34 of the Civil Code - "Rent"; Article 2 of the Federal Law	Chapter 34 of the Civil Code
Responsibility for the risk of accidental breakage, loss or damage to the subject of the transaction	direct responsibility on the lessee	tenant is not responsible
Providing documents confirming solvency	held comprehensive assessment enterprises for solvency	not required, only account details are required
Who chooses property	lessee (company)	landlord
Subject of the transaction and its quality	means new equipment	the object may be the property that was rented several times, defects and malfunctions are not excluded

Lease payment schedules

Regular payments on leased property can be regressive, seasonal, annuity.

Regressive premiums mean that the monthly payment decreases with each subsequent payment. The same amount (fixed) is meant by annuity payments. As the name implies, seasonal payments depend on the season. Many businesses make a profit in a certain season, so a leasing company may consider special conditions payments.

What is subleasing

Often there are such cases: the lessee no longer needs the received property or he cannot use it. And then thoughts arise, but is it possible to rent out the object of leasing? This will be considered subleasing.

This type of transaction is legalized and at the same time an appropriate subleasing agreement is drawn up. Its participants are the new acquirer of the property - the subtenant, the former lessee who no longer needs the subject of the contract.

The lessor is the organization that owns the property. written agreement or a ban on the transaction.

Conclusion

Now you know what leasing is, types of leasing and how to lease a car, equipment, etc. If you have questions, ask in the comments below. And also read other articles on our website!

A variety of subjects, objects, subjects, terms and other conditions of leasing transactions allows us to make their extensive classification.

The main forms of leasing regulated by the Leasing Law are domestic leasing and international leasing.

Internal leasing takes place when the lessor, the lessee and the seller (supplier) are residents of the Russian Federation.

International leasing takes place, as a rule, when the lessor or lessee is a non-resident of the Russian Federation. The main reason for leasing to enter the international arena is the general desire of the leading countries of the world to create conditions for stimulating the export of investments from industrial companies.

Depending on who the lessor is - a resident or a non-resident of the Russian Federation, various branches are used to regulate leasing activities. Russian legislation. If the lessor is a resident of the Russian Federation, the Law on Leasing and other related laws of the Russian Federation apply; if the lessor is a non-resident of the Russian Federation, the legislation of the Russian Federation in the field of foreign economic activity is applied.

International leasing, depending on the location of the parties involved in leasing operations, is divided into export leasing if the leasing company acquires the subject of leasing and then transfers it to a foreign lessee; import leasing - a transaction in which the supplier is located on the territory of a foreign state, and international transit leasing - a transaction in which all subjects of leasing are located on the territory of different states. Recently, the so-called indirect international leasing has become more widespread - when all three participants in a tripartite transaction are legal entities one country, and the financial institution that finances the transaction by providing a loan to a leasing company is located in another country.

The type of leasing is determined by the period for which the leasing transaction is concluded:

• long-term leasing - leasing carried out for three or more years;
• medium-term leasing - leasing carried out within one and a half to three years;
• short-term leasing - leasing carried out for less than one and a half years.

The type of leasing is determined by the terms of the leasing transaction. The generally accepted parameters for differentiating leasing by type are: the period of use and the associated depreciation of property (recoupment of leasing), the scope of obligations of leasing participants, the method of acquiring the property transferred for use and the composition of the participants in the transaction, the type of property, the nature of leasing payments.

The main types of leasing regulated by the Law on Leasing are: financial, leaseback and operational leasing. In practice, there is a wider variety of types of leasing: classic financial leasing, producer leasing, clean leasing, wet leasing and other types of leasing.