The investment offer

Dear Sir/ Madam!



We would like to offer you to consider an opportunity to cooperate in the field of leasing. We are interested in attracting financial resources from potential partners on mutually beneficial conditions for funding leasing agreements.


Leasing activities are the ones related to purchasing a leasing object by one legal entity for one’s own or loan funds and its transfer to another economic entity for a term and for payment for temporary possession and its use with or without the right to repurchase.

Financial leasing operations as one of the types of investments carried out in the Republic of Belarus can be of interest for investors due to the fact that performance of such investment operations in conditions of the transitional economy allows to get a higher profit in comparison with the profit from similar operations carried out in the well-developed countries with a high level of stability, and it is characterized by a very low level of prime cost because there are no high material expenses when carrying it out and there is a high profitability level from the point of view of using one’s own equity.

A lessor transfers a leasing object to a lessee, who uses this leasing object in his/ her business activities under a bilateral leasing agreement with the following basic conditions: interest rate; contract cost of a leasing object; value of agreement; term of agreement; amount, methods and periods of leasing payments; conditions of operation and maintenance of the object, — which are determined on the basis of the conditions stipulated in a leasing agreement between a lessor and a lessee.

Attracting financial resources by a leasing company can be carried out both inside the republic in the Belarusian banking system by means of direct loaning or attracting loans of other resident-organizations, and by means of receiving loans from a foreign legal entity or natural person to fund purchase of leasing objects, and by means of full and partial commodity (commercial) credits when the equipment is sold and afterwards purchased by a leasing company for its further transfer to lease. The interest rate under a leasing agreement (a lease rate) is determined in each specific case depending on specific conditions of receiving financial resources and, correspondingly, on investment expenses of the leasing company.

The direct profitability of a leasing deal is determined by several major factors: cost of the resources employed (when they are used), available additional (except for expenses for purchase of a leasing item and interest rate for attracting outside resources) investment expenses, and ideally it reaches the amount of a leasing rate with complete minimization of a lessor’s investment expenses (except for the initial price of a leasing item).   At present it is (if continuous use of the attracted resources is ensured in the lessor’s activities) equal to 18-23 % annually (when setting the economically reasonable rates for the market, which will not a fortiori incur a lessee’s inability to pay).

Alongside with receiving a direct profit in the form of a leasing rate there is also a possibility to get additional profit due to the following:

— overrun of the contractual cost of a leasing item over the initial one (in the amount of overrun of cost and interest rate added to the overrun amount);

— use of peculiarities in taxation of leasing operations (in particular, VAT pays) – up to 1.6 % annually);

— effective drafting and implementing a leasing agreement at all stages (increase in profitability due to change of the ratio of investment expenses in part of the interest rates for the employed resources and interest rates paid by a lessee within the leasing rate) – up to 1.5 % annually;

— penalties paid by a lessee for unduly paying of leasing payments and other violations of the leasing agreement conditions.

Therefore, when carrying out leasing activities, the leasing company profitability with ultimate use of all tools for its increase and under conditions of ensuring continuous use of the resources attracted for the lessor’s activities can reach (without taking into account of interest rates paid to a loan-giver for use of the loan and additional profits at account of overrun of the contractual cost and penalties) 21-26 % annually.

Taking into account the payment of interest rates to a non-resident loan-giver in the amount of 9 % annually from the amount of the loan funds provided, the marginal profit of the company now is equal 12-17 % annually.

At the same time, beside the high profitability of leasing operations, the leasing company, which carries them out, allows to ensure ultimate protection of the investor’s interest, who provides loan resources to the lessor for purchasing a leasing object due to the following reasons:

— all work related to filling out a leasing agreement, execution of the required procedures connected with its implementation (supply of a leasing object, pledge, insurance of the leasing object and financial risks under the leasing agreement, drawing bank guarantees, interaction with supervising agencies, control over the conditions of the leasing object and the process of its operation) is done by the professional participant of the leasing services market, who knows perfectly well the legal base regulating leasing activities and peculiarities of leasing and accompanying operations in the specific conditions of the Republic of Belarus;

— when drawing up a leasing agreement, the leasing company performs a set of preventive measures to minimize tax payments paid from the amount of revenues received by a non-resident loan-giver for providing a loan in accordance with the legislation of the Republic of Belarus;

— opportunity to fast solution of problems related to bid security of an operation and selling, if required, of a pledge item as to compensate investment expenses related to purchase of a leasing object;

— opportunity of quick withdrawal of the leasing object and its transfer to another lessee, who is able to use it more effectively, in case of undue use of the object, failure to pay leasing payments and other violations of the leasing agreement conditions;

— opportunity of fast response at possible changes in monetary policy within Belarus, which can influence mutual settlements with a non-resident loan-giver, occurrence of solvency problems of a lessee. When these problems occur a professional leasing company can quickly change the form and procedure of mutual settlements with the user of a leasing object as to avoid financial losses of a non-resident loan-giver;

— opportunity to apply mechanisms to ensure the investor’s interest designed to minimize financial risks that occur in the process of investing, and namely: bank guarantees, pledge of high liquidity property; pledge of monetary funds, deposited on bank accounts; insurance of financial risks by insurance companies.

Attracting a professional leasing company as an operator in the leasing market is also reasonable due to the fact that, though there is quite a progress and balance in the legislation of the Republic of Belarus in its part regulating leasing activities that allow to ensure favorable environment for functioning for all participants of investment projects, leasing activities are quite a complicated type of legal relations, and ignorance of them and failure to take into account a lot of details can result in problems in taxation and in relations with supervising agencies, and, as a consequence, in essential downturn of general profitability in the process of investing.

In the process of leasing there are some advantages for a lessee, and their availability in comparison with other forms of investing: accelerated depreciation, flexible schedule of payments allowing to take into consideration the specifics of the lessee’s production process, inclusion of leasing payments in full volume into the composition of prime cost of products (works, services), — makes leasing more attractive for enterprises, which need to draw investments.

The situation in the market of leasing services in the Republic of Belarus at present is as follows: beside its essential capacity due to a high level of depreciation of the fixed industrial funds in the Republic of Belarus, and a real existing demand any profitable enterprise to expand its industrial base, there is an acute shortage of economically reasonable proposals for lessees from the part of leasing companies due to the fact that the banking system of the Republic of Belarus cannot supply the sufficient amount of available credit resources to this market segment. It provides an opportunity to get to the market with the offer of higher (within limits that do not cause mass failure of payments from lessees) interest rates.

Besides the existing treaties of the Republic of Belarus on establishment of the Union State with the Russian Federation and the Common Economic Space with the Russian Federation and Kazakhstan, providing free movement of capital and goods within the territory of three countries in virtually similar legal environment provide an opportunity to expand activities of a Belarusian leasing company to the markets of these countries. The available professional potential, business contacts and experience of the JLLC “Interconsultleasing” allow to perform this business expansion in the Russian Federation and Kazakhstan.

The situation and tendencies in the market of leasing services of the Republic of Belarus allow to ensure fast growth and the company’s profitability if sufficient financial funds are available.

 Information about the market of leasing services of the Republic of Belarus (according to the data provided by the National Statistic Committee of the Republic of Belarus): 

The capacity of the new business (cost of leasing agreements signed within a year) in 2012 was equal to 983.500.000  Euro.

The share of leasing in the total volume of investments in the fixed capital constituted 7.0%.

As for December 31, 2011 the total volume of liabilities of lessees was 1.497.331.000 Euro.  The growth by December 31, 2011 was 47%.

Within the recent 2 years the volume of international leasing has been growing fast. In 2012 the volume of international leasing agreements has grown within a year by 1,66 in comparison with the year 2011.


The founders of the enterprise Joint Limited Liability Company “INTERCONSULTLEASING” are two physical persons, who are residents of the Republic of Belarus, and one legal entity, which is a non-resident, economic subject registered in the Republic of Croatia.

The total amount of the authorized capital of the Joint Limited Liability Company “INTERCONSULTLEASING” is equal to 150 000 US dollars. The Belarusian founders own 15 %, and the Croatian founder has 85 %.

The leasing enterprise was established in December 2007 as a joint limited liability company.

The enterprise keeps its accounts and records and, therefore, it has its own accounting balance-sheet, which is annually submitted for further approval by the stockholders of the company at the Annual Meeting of the Joint Limited Liability Company “INTERCONSULTLEASING”. Also, an independent auditing organization carries out auditing check every year.

The annual turnover of the company in 2012 (the amount of the received leasing and rent payments) was 762 135 Euro. The growth by December 31, 2011 was 138 482 Евро (47%).

The Joint Limited Liability Company “INTERCONSULTLEASING” offers all types of financial (with the right of redemption) leasing. The items for leasing include the following: passenger and load-carrying vehicles, construction equipment and specialized equipment, manufacturing equipment, and real estate.

We offer office premises in the center of Minsk in a type “A” business-center for rent as well.

From the chart below you can see distribution of investments according to the leasing items in the leasing portfolio of the enterprise as for August 01, 2013.



Distribution of profits allocated from offers of leasing and rent of the company’s own real estate and from the leasing agreements in effect in the total amount of benefits in 2011, can be seen from the chart below:




Distribution of profits allocated from offers of leasing and rent of the company’s own real estate and from the leasing agreements in effect in the total amount of benefits in 2012


The following measures ensure receipt of financial flows under the signed leasing agreements in accordance with the schedule of leasing payments:

— A thorough individual approach to every customer (lessee) in part of his/ her financial standing.

— Use of security measures in every leasing deal, allowing to get a complete compensation of all incurred investment expenses under an agreement:

— receipt of advance payments from a lessee,

—  provision of a guarantee by a director or founders of a lessee,

— pledge of additional property,

— charge of penalties for late paying of leasing payments,

— possibility of unilateral termination of a leasing agreement accompanied by withdrawal of a leasing item from a lessee in case of failure to pay leasing payments more than twice in succession.

—  Operations are only with those leasing items that have high liquidity in the secondary market.

— Permanent monitoring of the financial standing of lessees within the period when a leasing agreement is in force, and duly and adequate responses if the standing gets worse.


The above mentioned measures allow minimizing and total excluding of losses related to dishonest execution by a lessee of his/ her obligations stipulated by the leasing agreement. Within the period of 4 years of operations by the enterprise in the leasing market of the Republic of Belarus there were practically no any cases of systematic failure to follow the schedules of leasing payments on part of the lessees.


In the short-term period the strategy for development of the enterprise provides the following:

1.Keeping to the trend of the enterprise directed at a highly qualitative level of the customer database as a guarantee of dynamic and progressive advance of the enterprise. For this purpose the enterprise permanently improves the control system over the leasing agreements in force and the lessees, which also includes the system for financial monitoring of lessee-entities and perspective customers, consulting service in the field of theoretical and practical leasing aspects for the customers, marketing tools in the market when purchasing property designed for leasing as to prevent cases of overpricing and for survey of the perspective market in case of possible withdrawal of leasing items from lessees.

2.Expanding the database of customers of the enterprise due to the target advertising and the following advantages over the competitors:

—            the amount of effective leasing rate reflecting the price of leasing services provided by the enterprise is lower than average in the republic and is equal to 11-12 % of the annual appreciation. Information for comparison: the average rate of the leasing companies according to the marketing surveys carried out by the enterprise is equal to 13-16 % of the annual appreciation;

— optimized set of documents submitted by lessees, which allows perspective customers to fill it out within a short period of time;

—   short terms of review of lessees’ applications – from 3 calendar days;

—       high professional competence of the company’s staff (practical job experience in the field of leasing operations is no less than 10 years);

—     operational independence on a resource database from the Belarusian banks and, when carrying out the main activity, use of only those monetary funds, which are received from foreign investors under long-term loan agreements, which allows to be independent on the state of financial market of the republic in its part of available monetary funds as to carry out leasing activities;

—       high level of requirements to the lessees’ financial standing and to the level of drafting business-plans of projects proposed to finance;

—    a comprehensive approach to the customers, i.e. permanent monitoring of the leasing agreements in force;

—     available sufficient own fixed assets and a high rate of net assets, which increase the financial sustainability of the enterprise.


3.Expanding the resource database of the enterprise by means of attracting new investors, both from the republic and from abroad, to financing the current activities carried out by the enterprise.

4.Increase in use of commercial loaning when purchasing the property designed to leasing.

5.Further expanding of the range of services provided by the enterprise, accompanying or related to leasing activities (rent, legal, consulting and engineering services).

6.Increasing own fixed assets.

7.Development of the leasing trends, which will be new in the republic, in particular, providing real estate objects being under construction for leasing under the terms combining the advantages of both shared construction and leasing. This will allow to get profit both from selling of the real estate objects and from carrying out leasing operations.


We would propose the following possible forms of cooperation with prospective investors:

— establishing a leasing company with the partner company on principles of parity;

— providing our company with a loan of monetary funds at interest for investments in the main activities on security of the funded leasing items and with use of other tools of guarantee on a mutually beneficial basis.

Our company has a brilliant reputation in relations with its creditors and a four-year experience of attracting loans. Within the period of January 2008 till August 1, 2013 the JLLC “Interconsultleasing” received loans only from foreign creditors from various European countries for funding leasing activities at the amount of 1,150,000 Euros. And strict execution of its obligations and liabilities under the signed loan agreements was ensured – within the whole period of agreements there was no a case of overdue payment of interest rates for use of loans and return of the amount of the main debt.

According to the rating of leasing companies of the Republic of Belarus in 2011-2012 the JLLC “Interconsultleasing” was recognized as a leader of the rating in the financial sustainability indicator.

The reasonable terms of loan agreements include the following: 

— the rate for use of a loan – 9 % annually;

— the interest rate payment schedule — quarterly;

— repayment of a loan – one-time payment after termination of the agreement.


Faithfully yours,


CEO of the Joint Limited Liability Company “Interconsultleasing”

Mr. Kirill Shimanovich