Meet the company making MILLIONS from your visa applications

If you've ever applied for a visa, chances are you've interacted with VFS Global, the world's largest visa and passport services provider.

At the helm of this colossal enterprise is Zubin Karkaria, a visionary entrepreneur who transformed the cumbersome visa application process into a streamlined global operation.​ In the 1990s, while working with the Swiss travel company Kuoni in India, Karkaria observed significant inefficiencies in the visa application process.

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Applicants endured long waits at embassies, often travelling across cities and queuing overnight to submit their documents. Embassy staff were equally overwhelmed with administrative tasks, leading to delays and frustration on both sides. ​

This birthed VFS Global. Mr Karkaria was determined to find a way to make the process more efficient and systematic. So he approached the US embassy in Mumbai and for 18 months tried to convince them to outsource the administrative part of the work to his company. He went to the head of the visa section at that time and said:

Let's work out a process where you still remain in control of the decision-making. But the way we do it is we scan everything and do all the administrative parts of your work... your visa officer gets the documents one day before, we do appointment scheduling that means you know who's coming at what time … so you spend 90 per cent of your time in decision making.

The proposal worked, and VFS began operations in 2001, still a part of Kuoni, to support embassies with their administrative tasks including collecting documents, scheduling appointments and managing the logistics of delivering passports.

The company did not charge the embassy for its services but created a business model of receiving a service fee from individuals to make the entire process more efficient. The process was far from easy due to the complexities involved in terms of security, privacy and government approvals But having the US embassy as a client helped VFS bring other governments on board.

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To build trust, Karkaria implemented robust security measures and demonstrated VFS Global's capability to manage complex processes across diverse cultures. He made significant investments in technology to ensure that the visa application process became more accessible and secure for applicants worldwide. ​

He explained that after the person at the counter collects the documents from the applicant, there’s a huge process that takes place at the back end. He said:

We have to make sure that every passport goes with the right documentation. Every upload that has happened has to be 99.9 per cent accurate because there cannot be a mistake – even if your passport number, there’s a slight mistake, when you're entering a country, you might be asked to go back. So, we can't take a single risk.

From a single center in Mumbai, VFS Global experienced exponential growth over the next two decades. As of 2024, the company operates 3,558 centres across 158 countries, processing approximately 100,000 visa applications daily. To date, VFS Global has handled over 303 million applications and partners with 69 governments globally. ​

VFS Global's success attracted significant investment interest. In October 2021, Blackstone Inc., a leading global investment firm, acquired a majority stake in the company. By 2024, VFS Global was valued at approximately $7 billion, underscoring its dominant position in the visa services industry. ​

Despite its impressive growth, Karkaria sees substantial potential for further expansion, noting that 65% of visa processing is still not outsourced. To capitalize on emerging technologies, VFS Global plans to establish Artificial Intelligence hubs in the UAE, Mumbai, Berlin, and Silicon Valley, aiming to enhance and innovate the visa application experience. ​

Mr Karkaria is confident that the market potential is massive. He says at this point, outsourcing visa services is “no longer an option” for governments.“

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