Leasing operations in Romania

I would like to undertake leasing and the presentation of some information about it would be useful. What, more exactly, is a leasing operation in Romania?

Parts of leasing operations are called locator / financier and lessee / user. Through the leases, the lessor / lender sends the lessee / user, for a specified period and at the request of the latter, the right to use a property whose property is the first in return for a periodic payment called a leasing installment.

 At the end of the specified period, the lessor / lender has the obligation to observe the option of the lessee / user to purchase the asset, to extend the lease without changing the nature of the lease or terminating the contractual relationship.

The lessee / user has the possibility to buy the asset before the end of the leasing period, but not earlier than 12 months, if the parties so agree and if all the obligations that have been assumed by the contract are fulfilled.

On what types of goods can the right of use be obtained under a leasing operation in Romania?

According to the legal framework of the leasing operations, respectively the Government Ordinance no. 51/1997 on leasing and leasing companies, are immovable property by their nature or which become immovable through their destination, but also movable goods which are in the civil circuit.

Non-leased assets are theater plays, patents, audio or video tapes, manuscripts, intangible assets and copyrights.

However, computer usage rights may also be leased as proprietary rights in computer programs, but copyright is required to have authorized the operation.

As a legal person, can I take part in such leasing operations in Romania?

Of course. The leasing operations may include, as lessee / user, any natural or legal person, whether Romanian or foreign.

The locator / financier in such operations is owned by a leasing company, Romanian or foreign legal person.

How are leasing operations carried out?

The first step in conducting a leasing operation in Romania is the submission of a request by any natural or legal person to state which is the good that will be the object of the lease. The application so submitted shall be communicated to the leasing company together with the documents proving the financial situation of the requesting person in order to obtain a financial offer from the company.

It is the user who will have to choose the good and contact the supplier for this purpose.

The leasing company will then make the financial verification of the natural or legal person on the basis of the documents submitted on request and, if it agrees, the company will conclude the lease and purchase the asset by paying the full value to the supplier. The supplier has the obligation to deliver the good.

There are two types of leasing contracts, namely the finance lease and the operating lease.

The finance lease must meet certain conditions such as:
Residual value is the amount at which the transfer of the right to ownership of the good to the user is made after all the lease rates and other amounts due under the contract have been paid by him.
This value shall be determined by the Contracting Parties.
 
The entry value of the good is its purchase cost.

What are the leasing companies in Romania and how are they organized?

Leasing companies are Romanian legal entities that are set up and operate in accordance with Law no. 31/1990 on societies. They have as their main object the leasing operations.
 
It is necessary that such leasing companies have a minimum share capital that is subscribed and paid in full cash at the moment of establishment and its ceiling is 200,000 euros or the equivalent in lei of this amount.
 
With regard to the categories of leases which leasing companies may conclude, these may be contracts having as their object:
   
Leases are complex operations whose deployment requires thorough information in this area. Darie, Manea & Associates are at your disposal in this regard. Do not hesitate to contact one of our lawyers for more information on leasing and leasing contracts as well as for specialized legal advice regarding the establishment of a leasing company.