50 most admired companies
Tue 27 Feb 2018 12:46 PM

Headquarters Dubai

Year established 2009

Sector Enterprise solutions

Virtuzone was the first private company formation specialist in the UAE, pioneering the provision of an affordable solution to offer 100 percent ownership, minimal start-up fees and a reduction in red tape in order to allow business owners to focus on their business – and not the business of setting it up. Virtuzone operates a B2B solution that provides outsourced support to top legal, accounting and financial firms whose customers require speedy and cost effective offshore, midshore and onshore structured solutions.

Virtuzone has exemplified the UAE’s use of outsourcing to professionals focused on providing customer service, rapidly building a supportive ecosystem so important to helping a startup survive the difficult early years. Partners include Etisalat, Aramex, KPMG, Shopify, Regus, and Beehive, as well as various in-house divisions such as VirtuVest, VirtuDesign, VirtuTech, VirtuMail, VirtuPRO, VirtuLink and VirtuAccounts.

Companies set up through Virtuzone can derive huge advantages in being able to spread their costs over a year; obtaining and financing the latest telecoms and IT hardware; immediate logistics support; accounting and VAT support; access to office space in 3,100 global locations; a turnkey e-commerce solution; investor funding; telephone answering and end-to-end administrative support.

Powering growth

This highly supportive environment has resulted both in an industry-leading renewal ratio of 76 percent since 2009 and a customer lifespan of 3.8 years, which is exceptional in the startup space. As a result, Virtuzone has overseen the formation of nearly 14,000 companies and an average annual growth rate of 36 percent over the last two years at a time when key markets and sectors are all under pressure.

Virtuzone offers 24-hour, seven-day support from its highly-trained consultancy team. It has also recently launched VirtuElite, a division that provides typically more complex company solutions to ultra-high net worth individuals; Virtuzone Mainland, which provides corporate sponsorship to LLCs using the DED structure; and Next Generation Equity, a citizenship-by-investment company for 14 jurisdictions.

With more than 100,000 new companies due to set up in the UAE in the next three years, put simple, Virtuzone will help a much greater percentage of them succeed.