The Economic and Foreign Trade Commission ruled in favor of the Financial Leasing Law, which establishes the legal framework for entities such as banks and financial companies, to include leasing as part of its product portfolio.
This bill, which still has to be analyzed and approved by the Congress, aims to contribute with the development of the national economy as it expands financing options in all sectors, especially for small and medium entities, providing financing to income-producing assets without having to disburse large amounts of money from the beginning. It will offer financial, operational and tax advantages that will help them to be more productive and to be more competitive in both the domestic and international markets.
The lease agreement, which has the nature of a commercial contract, is the one by which a company obtains the usage and enjoyment of a property for a specified period of time, in exchange of a rent payment. On the expiry of the contract, the lessee may exercise its right to purchase the property, paying the value agreed in the contract.
This financing model is not new in Guatemala, this is a model that has been used and is still used by companies for the purchase of income-producing assets. The aim is to regulate the leasing activity in Guatemala and give greater legal certainty to the operations under this system.