As global travel rebounds and visa requirements grow more complex, demand for fast, reliable visa processing services is rising sharply. VFS Global CEO Zubin Karkaria is at the centre of that demand — leading a company that works with 68 governments across 3,450 centres in 151 countries to process millions of visa applications every year.
Founded in 2001, VFS Global has become the world's dominant visa outsourcing company. It provides end-to-end solutions: collecting applicant documents, managing biometrics, booking appointments, and handling courier services — taking administrative pressure off embassies while smoothing the experience for travellers.
VFS Global's Growth After the Pandemic
The company processed 24.1 million applications in 2023, representing 88% of 2019 pre-pandemic levels, and is on track for record-breaking volumes in 2024. Between January and May 2024, VFS Global has been handling approximately 100,000 applications every day.
Karkaria has projected double-digit growth across revenue, profit, and applicant numbers for 2024, and the company's three-year compound annual growth rate (CAGR) is forecast at 18% to 20%.
Security and Technology Investment
Data security and privacy are central to VFS Global's operating model. The company spends approximately 40 million Swiss francs ($44 million) annually on IT and cybersecurity. It runs one of the largest bug bounty programmes in its sector and works with technology partners including Microsoft and Fortinet.
VFS currently has 16 digital products deployed with governments worldwide. It is also opening AI hubs in the UAE, Berlin, Silicon Valley, and Mumbai, focused on predictive analytics, facial recognition, and fraud detection.
New Services in the UAE
As VFS Global grows its network, it is also broadening the types of services it offers. The company provides premium zones in its application centres where applicants can access expedited, personalised assistance for a fee.
In the UAE, VFS Global has launched a service called Medical At Your Doorstep, developed in partnership with AMH. The service allows expatriates to complete the medical tests required for visa renewal without visiting a clinic in person.
A 65% Untapped Market
Despite its scale, Karkaria sees enormous room for expansion. Around 65% of the global visa processing market is still handled in-house by governments rather than outsourced to specialist operators — a gap VFS Global intends to close.
The company is also diversifying into adjacent services, including passport renewal and expatriate medical testing, making fuller use of its existing facility network.
Tighter Borders Are Not a Barrier
Karkaria acknowledged that geopolitical pressures and increasingly complex cross-border regulations could be seen as headwinds, but he views them differently.
"Will visa-free increase? Not what I see. It looks like there'll be more visas than no-visas," he said.
He remains optimistic: the trend toward tighter border controls and more complex immigration rules increases demand for exactly what VFS Global provides. With innovation and efficiency as guiding principles, Karkaria believes the company is positioned to keep delivering efficient services to millions of international travellers for years to come.
