According to global surveys, one of the industries to develop by 2021 is the car rental and leasing industry. The automotive industry is currently one of the most powerful at worldwide levels thanks to the latest developments which includes innovation.
The UAE is no stranger to the automotive industry, especially when considering Dubai which is home to some of the richest men in the world who own impressive car fleets. A particularity about Dubai is the increasing number of tourists who prefer to rent cars when travelling here, while those relocating here for work enter into leasing contracts when buying cars.
If you want to start a rental and leasing business in the emirate, you must comply with various requirements our Dubai company formation consultants can explain.
The business plan is one of the most important aspects related to starting a car leasing and rental business in Dubai. Choosing the right place for the parking lot which offers good visibility and the marketing of the business are only two of the aspects to consider.
Then, the legal requirements must be met:
The insurance is mandatory when opening a rental and leasing company in Dubai.
Among the services which can be offered by car rental companies in Dubai are:
In the case of leasing companies, these can also target their services towards individuals or companies seeking to buy cars in Dubai.
Dubai car rental and leasing companies must have rental offices, as required by the Road Transportation Authority. Then, companies must take into account the following rules:
For assistance in setting up a rental and leasing company, please contact our company incorporation advisors in Dubai.