Virtuzone Chairman: The UAE’s KYC, due diligence and tax-efficient structure will attract Israeli businesses

20 November 2020
Israeli business in UAE

Gulf News, one of the UAE’s leading English daily newspapers, covered the recent webinar of the UAE-Israel Business Council (UIBC), where Virtuzone Chairman and Co-founder Neil Petch was one of the speakers.

During UIBC’s informative discussion, Neil emphasised that the UAE’s leading Know Your Customer (KYC) and due diligence processes, as well as tax-efficient structure, will draw Israeli entrepreneurs to set up their companies in the country.

“A lot of successful Israeli companies have been structured in Cyprus, Malta and Gibraltar - and those jurisdictions don't offer the benefits Dubai has,” said Neil.

“By registering here, they are availing of the use of English common law through DIFC (Dubai International Financial Centre).”

“Every single dollar that comes in can be reinvested in growing that company, whereas if they were structuring it in Israel, that's not the case.”

Read the full article here.

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