649100 Financial leasing

This type includes the activities of financial leasing, a contract under which the lessor as legal owner of an asset conveys the risks and benefits of ownership of the asset to the lessee. Under a financial lease, the lessor is deemed to make, to the lessee, a loan with which the lessee acquires all the economic benefits and risks of the lease. Thereafter, the leased asset is shown on the balance sheet of the lessee and not the lessor; the corresponding loan is shown as an asset of the lessor and a liability of the lessee.

This type also includes:

• financial leasing of durable goods (e.g. vehicles)

This type excludes:

• operating leasing, according to type of goods leased, see division 77