MEAM UAE Business Awards 2018

MEAMARKETS / 2018 UAE Business Awards 83 typically within five minutes from a Google search or hit on their website or one of its many bespoke landing pages. Secondly, Virtuzone provides accurate, professional and concise consultative advice to customers seeking to navigate through the 44 free zone and numerous onshore/offshore options available in the UAE. This is made possible through a combination of great recruitment (you are only as good as your staff), constant on-the-job training, a highly personalised and robust lead-to-sale CRM system and an office location next to Burj Khalifa that offers free parking. The world’s largest mall with thousands of restaurants, shops and entertainment opportunities as well as premium five star hotels are on Virtuzone’s doorstep, allowing international visitors to become UAE residents before their trip to Dubai is over. Thirdly, unlike the vast majority of formation agencies in the UAE, Virtuzone’s government partners have outsourced customer service to Virtuzone, allowing the firm to establish long term relationships with customers. Therefore, it can afford a near zero margin Y1 with company and customer growth aligned. The traditional model, dependent on one transaction for the entire profit encourages inaccurate advice led by commission rather than what is best for the customer. Thanks to this approach, Virtuzone is not only better value for money but even more importantly generates more leads from customer referral than any other source. Fourthly, trust and confidence are at the centre of the firm’s service offering. Whether clients judge Virtuzone by its global partnerships with Aramex, KPMG, Regus and Beehive, and initiatives with Google, Etisalat, and Shopify, or view its content in the entrepreneurial and start-up environment (perhaps best seen at vz.ae/blog or presence on LinkedIn, Enterpreneur.com and arabianbusiness.com to name but a few), they know that when they connect with Virtuzone they will enter a mutually beneficial ecosystem. Fundamentally, company formation agencies share near identical KYC and due diligence with banks, insurers and all aspects of financial support, and work hand-in-hand with government agencies to ensure the right people and the right money drive FDI in the UAE. Virtuzone also depends upon customer service, especially ensuring ease of application and speed of processing to grow its business. This twin role, firstly allows a customer to establish their company from their home on the other side of the world with maximum speed and minimal cost. It secondly ensures new levels of security that automatically search global databases to ensure UBOs (ultimate beneficial owners) are who they say they are, so that the government agency can provide these structures safely. Virtuzone is ideally placed to show both parties how the likes of blockchain, video retina and facial recognition, uber-secure digital signatures and cross- ministry-cross-country database search analysis can provide more secure setups, faster. Looking ahead, a huge growth opportunity for the UAE and Virtuzone is the ease at which an individual or a corporate can establish a legal commercial presence and thus residence in the UAE without some of the arduous residence regulations and thus costs seen in the likes of Monaco, Singapore and Malta. The UAE’s low tax regime with zero income and corporation tax and only 5% VAT can provide a massive injection to a structure’s ability to channel all its revenues into growth, whether that be an international branch of parent company or new hub for a start- up. This opportunity has been surprisingly under-promoted to-date and as with all first mover advantages it must be very clearly navigated. Virtuzone is ideally positioned to facilitate this for a whole new swathe of customers. Virtuzone’s slogan is #beyourownboss , and to achieve this both internally and for its clients, the firm is determined not to rest on its laurels. The UAE’s unique pro-business environment combined with its existing loyal customer-base ensures that the team can and must do ‘more of the same’ allowing us to invest more than anyone in the support structure and offer lower cost financial models for new and returning customers. The team must also continue to innovate, seek new markets, find ways to reach the same market and new solutions better suited to the constantly changing requirements of the global marketplace. Company: Virtuzone Contact: Ms. Louise Paris, Company Formation Specialist Address: Office 404, Al Saaha Offices – B, Souk Al Bahar, Burj Khalifa District, Dubai, UAE Phone: +971 4 457 8200 Website: https://vz.ae/ Email: [email protected] Company Formations Experts of the Year 2018