Financial Leasing for Italian companies
If you are managing a company that has just been started or if you want to relocate in Italy or increase your business and you are looking for financing, Italian law rules about the Financial Leasing for companies.
This kind of lease grants the company applying for it with a financial institution with the money needed in exchange for the obligation to repay the same amount plus interests over a determined period of time. The capital lent and the interests are generally divided into monthly, semi-annual or annual instalments, according to the terms and conditions of the leasing contract.
Usually, the characteristics of the leasing are similar to those of property mortgage. However, commercial loans normally have a maximum repayment term of less than 20 years.
In order to obtain such financing, the bank requires a series of documents aiming to guarantee the general solvency capability of the lender and his particular ability to repay the sum plus interest in due time.
The main requirements of financial leasing are:
- Income tax declaration;
- An Italian bank account and the relevant bank statements of the company’s previous years;
- An appropriate security package;
VGS Lawyers will take care of all the paperwork required by the bank and to negotiate, in your best interest, the security package which is less onerous for our client.