Cases

FATCA regulation and leasing companies

One of our clients put a question to the lawyers of the Law Office regarding the scope of application of the FATCA regulation to leasing companies.

Regarding the literal wording of the provisions of the agreement made between the Government of Poland and the Government of the United States of America on FATCA regulations it should be indicated that leasing companies do not fulfill the definition of a financial institution.

Additionally, in the case of leasing operation the condition to carry an individual account for the lessee by the lessor is not being met. This is because there is no trust element or element of depositing funds by the lessor in the lease agreement.

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