The local and foreign investors who want to set up a car rental company in Romania must follow a few legal steps for incorporation and they should know that the procedure has been simplified in the last years. The Trade Register functions as a “one-stop” registration office and the incorporation procedure lasts only a few days once all the required documents are submitted.
The entrepreneurs must first decide the type of company they want to open in order to offer car rental services in Romania. The most common types are limited liability company (SRL) for small businesses and joint stock company (SA) for large ones. A foreign investor who wants to set up a company in this field can give the power of attorney to a local lawyer who will be in charge with all the company formation aspects and will provide legal assistance for starting the business. The local attorney will inform you about the special license or permits necessary for your company.
The car rental industry in Romania has developed in the last years and it is expected to grow as the economy is on a positive trend and the number of foreign tourists coming to Romania has increased year after year. Car rental sector increased by 12% in 2015 compared to the previous year due to the large number of foreign tourists who visited our country. A part of the businessmen who invested in this field have targeted also the local citizens interested in renting cars in major Romanian towns. The prices for this service are low comparatively to other European countries or exotic destinations like Dubai (http://www.rentluxurycarindubai.com), so this business has a high potential of growth in the next years.