By digitizing key aspects of business shaping and compliance, this collaboration contributes to the nation's goals of promoting innovation, entrepreneurship and sustainable economic development.
Mastercard Joined forces with IFZA one of the fastest growing free zones in the UAE, and the Global Tax Assistant an international consulting company, embarking on a fully digital, AI-driven business registration journey in the UAE. The collaboration aims to accelerate the growth of the country's small and medium-sized enterprises (small and medium-sized enterprises) and pave the way for the expansion of the entire Eastern Europe, the Middle East and Africa (EEMEA) market.
Small and medium-sized businesses account for more than 94% of all UAE companies and contribute more than 50% of GDP. The National Agenda for Entrepreneurship and Small Businesses is set to establish the United Arab Emirates as an entrepreneurial nation. By 2031 it will be one of the top three countries in the Global Entrepreneur Index. The collaboration is one of the region's first digital AI-powered business registered pilots, reflecting a unique sector collaboration through Advanced Endeme.
“The thriving SME economy forms the heartbeat of the UAE's diverse business environment. At IFZA, SME is the prototype for tomorrow's global enterprise, driving innovation, job creation, exports and new business models. Infrastructure.”
– Jochen Knecht, CEO of IFZA
From document submission to license issuance, the end-to-end onboarding process is driven by AI to enable faster and more efficient processing. Automation beyond form completion, document validation, and communication workflows can help reduce entrepreneurs' setup time and operational overhead.
As part of the collaboration, MasterCard business card holders will access simplified and discounted business setup services, further reducing friction and costs for UAE startups and small businesses.
“The collaboration with IFZA and Global Tax Assistant will increase the value we offer to our business customers and support the vision of the UAE's digital economy. SMEs are crucial for regional growth. This initiative demonstrates our commitment to empowering small businesses through technology, partnerships and financial inclusion. Medium-sized enterprises in digital economy.”
– Onur Kursun, Commercial and New Payment Flow, EEMEA, MasterCard
This collaboration is closely aligned with the UAE's broader digital transformation agenda and its commitment to strengthening the SME sector. This is two important pillars of the country's economic diversification strategy. By digitizing key aspects of business shaping and compliance, this collaboration contributes to the nation's goals of promoting innovation, entrepreneurship and sustainable economic development.
“Global Tax Assistant is dedicated to helping small business owners unlock new opportunities. We are excited to participate in a collaboration with MasterCard and IFZA, which aims to create an entrepreneurial enablement environment for UAE by promoting faster and simpler digital access to business setups. The technology that underlies the bank's customer journey will flow.”
– SMBAT Alikhanyan, CEO, Global Tax Assistant
Home to startups in over 160 countries, IFZA is one of Dubai's leading free zone communities, with world-class infrastructure, cutting-edge facilities and business-friendly regulations.
With over 10 years of international expertise, Global Tax Assistant provides accounting, legal, financial audit and tax consultancy services to over 350 clients in the UAE, Oman, Kuwait and Qatar.
