Credit- and financing institutions have always played an important role in developing Estonian market economy. Rapid growth of leasing market can be explained by comparatively liberal tax and legal conditions to practice leasing in Estonia. EU membership has helped to harmonize the legislation and to fuse into European economy. The active operation of leasing companies in equipment leasing has also brought out the need for self-improvement and communication with foreign leasing companies and associations. Here the Estonian Association has been a great help to its members.
In Estonia the operations of leasing companies are greatly influenced by the banks. Despite being independent legal corporate bodies most of the leasing companies are financed by parent banks.
The primary goals of the Association are:
- to represent members when communicating with fiscal and state authorities;
- to develop and maintain best possible environment for the leasing industry;
- to participates in the development of leasing linked legislation on state level;
- to organize training and advanced training for the employees of member companies;
- to arranges statistical data processing making periodical analysis of the leasing market;
- to communicate with public and media;
- to communicate with EU authorities;
- to communicate with Leaseurope, Eurofinance, Europafactoring etc.
In order to clarify and interpret various problems, work groups made up from the representatives of different member companies has been set up by the Association.
One of the outstanding achievements is also the making of reviews and analysis of the leasing market, which was not possible without the help of the Association.
Estonian Leasing Association is a member of Leaseurope.