10th July 2026, Skopje - Increased transparency, stronger protection of the citizens, more effective supervision and regulatory framework modernized in line with the European standards are the key novelties introduced by the amendments to the Law on Financial Leasing. Adopted by the Parliament, these amendments comprise one of the eight steps the Ministry of Finance undertakes within the Reform Agenda.
The new legislative provisions set out the requirements for establishment and operations of the financial leasing providers, corporate governance, supervision mechanisms, transparency in operations and protection of the users of financial leasing. The new rules introduce better-defined contracts, allow for early repayment without additional costs, strengthened supervision over the operations of the leasing companies and higher standards on user protection. “
In order to increase transparency and enhance user protection, the amendments specify the mandatory elements that every financial leasing contract must include, also clearly stating any fees tied to the financial leasing. Moreover, the amendments allow for financial leasing contracts to be concluded in an electronic form, provided that the requirements under the regulations on electronic documents, electronic identification and trust services are met, along with the regulations on anti-money laundering, personal data protection and other relevant legislation.
Under the amendments, a possibility is introduced for financial leasing users to repay their remaining liabilities, whether in full or in part, at any time under the repayment schedule, without incurring any additional costs. Thus, the right to reduction of the total costs for the remaining duration of the contract is guaranteed.
Additionally, user protection is strengthened by stipulating that financial leasing providers may not use the leased asset as collateral without a prior written consent of the user. The consent must be executed before a notary public, in a separate document - a statement, apart from the financial leasing contract and the general terms and conditions, clearly referencing the legal implications of such consent.
Financial leasing providers will be obliged to publish their annual financial statements, accompanied by the auditor’s report and opinion, on their official websites. Hence, both natural persons and legal entities, as leasing users, will have the possibility to gain better insight into the operations of the leasing companies before entering into a business relationship.
Under the amendments, supervision is strengthened by tightening the misdemeanour provisions, while the financial stability of the financing leasing providers is enhanced by raising the minimum core capital requirement from Denar 6,000,000 to Denar 30,000,000.
To the end of strengthening the integrity of the entitles engaged in providing financial leasing, the amendments also incorporate the recommendations of the MONEYVAL Committee within the Council of Europe in the area of combating money laundering and financing of terrorism. Eligibility and reputation criteria are also introduced, which the founders and the members of management bodies at the financial leasing providers are to fulfill.
