What is Financial Leasing (Leasing)

Leasing is a modern way of financing that allows a business or a freelancer to acquire the use (and ultimately the ownership) of movable and immovable investment goods. In Greece, financial leasing started with the implementation of Law 1665/86, as amended by Laws 2367/95 and 2682/99 and is still in force today.

Attica Bank, through a finance lease, grants to the lessee (business or freelancer) the use of movable equipment or real estate for a specific period of time in return for a rental fee.
The lessee pays the Bank a rent for a specific period of time (at least 3 years for mobile equipment and 10 years for real estate) and upon expiry of the contract the lessee acquires ownership of the asset for a pre-agreed price.

Throughout the duration of the leasing contract, the Bank retains ownership of the asset and the lessee retains possession and use of the asset.

Forms of leasing


Leasing of mobile equipment
The Bank purchases equipment of the company’s choice (from Greece or abroad) and then leases it to the company for an agreed rental fee.


Direct leasing of real estate
The Bank purchases the property at the request of the company and then leases it to the company for an agreed rent.


Sale & Leaseback of real estate and equipment
The Bank purchases the movable equipment or commercial real estate from the company and leases it back to the company on the terms agreed upon.


Vendor Leasing
The Bank may collaborate with vendors of fixed equipment such as vehicles, project machinery, medical equipment, etc., to promote leasing to interested businesses.

Leasing – FAQs

  • Freelancers
  • Individual businesses
  • Legal entities under private law (S.A., E.P.E., I.K.E., E.E., O.E. etc.)
  • Public legal persons

  • Production, project or office machinery
  • Medical and diagnostic machinery
  • Vehicles and motor vehicles of all kinds
  • Office, hotel, educational, factory and warehouse equipment, computers
  • Wind and photovoltaic parks
  • Buildings for business/professional activity
  • Aircraft of any kind or any other investment goods

Ships and watercraft



Maintenance work

Provision of services

Operating licenses and software


Why opt for leasing


Financed up to 100% of the value of the asset and VAT.


Leasing avoids tying up capital and increases the liquidity of the company.


Link with investment programs
Lease financing may be combined with the inclusion of the leasing in a Development Law, in accordance with the conditions laid down in the Development Law.


Real estate leasing is exempt from transfer tax at maturity. A company that transfers real estate to the Bank when entering into a sale and leaseback agreement is exempt from transfer tax. Interest on leases and depreciation of the lease are considered operating expenses, which are deductible from the gross income of the lessee.


Lease terms and conditions
Competitive lease terms compared to bank lending.


Repayment terms in accordance with the financial possibilities of the company (seasonality, forward or backward leasing).


Other characteristics
Speed and flexibility in the implementation of the investment
Generation of liquidity from the existing assets of the company
Possibility of early termination of the lease and acquisition of ownership of the asset

Tax and Accounting Framework
According to the Law 4172/2013, the lessee is obliged to depreciate all contracts signed after 01/01/2014

With the enactment of Law 4223/13 (article 26), for contracts signed until 31/12/2013, the lessee is obliged to depreciate after 01/01/2019

Finally, under Law 4308/14 (article 18), leased fixed assets are recognised in the balance sheet of the lessee and depreciation is carried out in accordance with the relevant tax legislation. At the same time, an equal liability to the lessor is recognised, which is treated as a loan and the rent paid is separated into debt and interest. In the income statement, the interest on the lease and the depreciation of the lease are deducted from the lessee’s gross taxable income.