Laws related to Aircraft leasing operations in various countries:

1. China :
https://www.nortonrosefulbright.com/en-cn/knowledge/publications/d79e4dd9/free-
trade-zones-in-the-worlds-fastest-growing-aviation-market---lessor-and-lender-
considerations

2. Singapore:
Aircraft licensing scheme: https://www.edb.gov.sg/content/dam/edb-en/how-we-
help/incentive-and-schemes/ALS%20Brochure.pdf
On 20 February 2017, the Singapore government announced an updated Aircraft
Leasing Scheme (ALS), extending it for five years longer than expected, to 31
December 2022. Any approved aircraft leasing company can benefit from the
following incentives:
 a concessionary tax rate of 8% on income derived from the leasing aircraft or
aircraft engine and qualifying ancillary activities
 a withholding tax exemption on interest and qualifying related payments on
loans obtained for the purchase of aircraft or aircraft engines.
Aviation finance and leasing in Singapore:
https://www.lexology.com/library/detail.aspx?g=681a1047-370a-463f-a46c-
50964d7196f5
Singapore has grown as a global transportation centre and a leading international
maritime centre, largely due to the general features of the tax system, extensive
double tax treaties with more than 75 countries, as well as the targeted tax
incentives such as the Aircraft leasing Scheme (ALS).
Under the ALS incentive, an approved aircraft leasing company may be granted a
concessionary tax rate of 5% or 10% on qualifying income (headline rate is 17%)
and an automatic withholding tax exemption for interest and qualifying payment on
loans obtained before March 31, 2017 to finance the purchase of aircraft or aircraft
engine.  Furthermore, depreciation of aircraft can be made over any number of
years from of 5 to 20 years.
However, as the ALS is a concessionary scheme up to 31 March 2017, it will be
interesting to see whether the scheme will be extended or further enhancement will
be made.
 3. Hong Kong:
Hong Kong holds the prominent position of international financial, trading and
transportation centre, with a well-developed legal system. With its unique
relationship with China, Hong Kong is well positioned for aircraft leasing
companies to set up operations.
Currently a Hong Kong-based aircraft lessor is generally taxed on any lease
rentals derived from the lease of aircraft entered into. The lessor is not entitled
to claim tax depreciation on the cost of the aircraft, if it is leased to non-Hong
Kong-based airlines.  Therefore the Hong Kong lessor is taxed on its gross
rentals rather than profits arising from the leasing transaction at a rate of 16.5%,
which is deemed to be unattractive.
However, Circular No. 108 (Opinions on Accelerating the Development of the
Aircraft Leasing Industry issued by the State Council of the People’s Republic
of China in 2013) provides specific policy measures to promote the
development of the Chinese aircraft market. It is expected that the government
will revise the tax rules and create conditions more conducive to the
development of aircraft leasing, financing and investment businesses in Hong
Kong.
Shortly after Singapore’s enhancement, on 10 March 2017, the Hong Kong
Inland Revenue introduced a legislative bill for a proposed dedicated tax
regime, including:
 a concessionary tax rate of 8.25%, which is 50% of the current profits tax
rate of 16.5%, for both qualifying aircraft lessors and qualifying aircraft
leasing managers 
 as compensation for the loss of depreciation allowances, the deemed
taxable amount in respect of income derived from the leasing of aircraft
to a non-Hong Kong aircraft operator by a qualifying aircraft lessor will
be equal to 20% of the tax base of the lessor concerned, i.e. their gross
rentals less deductible expenses, but excluding tax depreciation.
Developing Hong Kong into an Aircraft Leasing and Finance Centre:

https://www.lexology.com/library/detail.aspx?g=8e2cfce2-7b4d-41f1-800f-ab6039690818

Aviation Finance & Leasing in Hong Kong: https://www.lexology.com/library/detail.aspx?

g=1119fe4b-6736-44de-9e15-8cc00753d293

Comparing Hong kong with China and Singapore:

https://www.pwccn.com/en/migration/pdf/aviation-leasing-hk.pdf

4. Dubai:

https://www.difc.ae/business/areas-business/prescribed-companies/