Starting Car Rental Business

Summary

To start a car rental business in Dhaka, register your business name, obtain a trade license, and secure insurance for your vehicles. Acquire a Tax Identification Number (TIN) for tax purposes. You can use your existing TIN if its under your name, but a separate TIN for the business is advisable. Banks may require business plans, trade licenses, and TINs for loans. Insurance provides benefits like damage compensation and third-party liability coverage. Without it, you risk financial loss and legal issues. Car accidents can lead to legal cases, depending on the damage and injuries involved. Jail time is possible if traffic laws are violated. Consider the risks and benefits, such as potential income and market demand, before starting your business.