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ARTICLE · 05 JANUARY 2024

Financial Leasing

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While there was no separate legislation on financial leasing in Turkish law before, a legal basis was established with the adoption of the Financial Leasing Law No. 3226 in 1985.

TurkeyFinance and Banking
Gözde Esen Sakar
Gözde Esen Sakar
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Introduction

While there was no separate legislation on financial leasing in Turkish law before, a legal basis was established with the adoption of the Financial Leasing Law No. 3226 in 1985. Later, this law was repealed and the Financial Leasing, Factoring, Financing and Savings Finance Companies Law No. 6361 ("FFFL") was adopted.

If the financial lease is to be made from abroad, the principles determined by the Association of Financial Institutions ("Association") pursuant to Article 21 of the FFFL should also be taken into consideration.

I. Definition of Financial Leasing and its Difference from Operational Leasing

The definition of financial leasing is given in FFFL 3/1/ç. According to the relevant provision, a financial leasing is a leasing transaction that provides any of the following conditions: the lessor transfers the ownership of a good to the lessee at the end of the lease term for the purpose of providing financing, provided that it is based on a

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