DUBAI – Following the signing of the Abraham Accords and the increase in interest from Israeli companies looking to do business in the United Arab Emirates (UAE), Virtuzone, the UAE’s leader in company formation and corporate services, has formed a joint venture with APEX Holdings, the owner and operator of a number of businesses in the UAE focusing on Israel/UAE trade, to help them navigate the process of setting up their business in the UAE.
The new joint venture, “Virtuzone Israel,” will help Israeli entrepreneurs and companies to seamlessly access the UAE market and Virtuzone’s broad suite of company formation and business support services. These services include company registration, jurisdiction selection, bookkeeping, work permits, visas, VAT handling and related essential services for onshore and offshore companies operating in the UAE.
“With our long track-record of registering over 40,000 UAE-domiciled companies and our partnership with APEX Holdings, we are uniquely positioned to help Israeli companies enter the UAE market and to provide the support services they will need for a seamless arrival,” said Virtuzone Chairman and Co-Founder Neil Petch. “We’ve created a dedicated team who understands Israeli business culture and will help support their move to the UAE, which has its own set of unique laws and regulations that foreign corporations will be best served by the right local advisor.”
“We have seen such a huge uptick of interest as a result of the Abraham Accords, which bring with it an exciting opportunity for the business community in both the UAE and Israel. Through our new joint venture, we are excited to help the thousands of Israeli companies who are looking to create business operations in the UAE,” said Apex Holdings Executive Director and Co-Founder James Brenig.
As one of the Middle East’s largest economies, the UAE offers significant tax benefits to businesses, including 0% tax on corporate and personal income. It also offers leading world-class business infrastructure and a strategic geographic position for businesses in Israel that want to expand their reach to the Middle East and Asian markets. Direct flights from Tel Aviv to Dubai will only take around three hours, making it very commutable.
Virtuzone Israel is working closely with the UAE-Israel Business Council, which helps to build ties that promote trade, innovation and cooperation between the two nations, to identify companies who are looking to move into the UAE market.
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