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Ortac International Accounting opens Dubai office

With its favourable tax policies and investor-friendly ecosystem, Dubai is extremely attractive to entrepreneurs worldwide, drawing attention from both Turkish and British investors

Published: Mon 6 May 2024, 5:57 PM

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With over 27 years of taxation experience, Ortac International Accounting has extended its services to Dubai, offering tailored solutions in company establishment, tax consultancy, and accounting.

Murat Ortac, founding partner of Ortac International Accounting, underscored Dubai’s appeal, stating, "Dubai's tax advantages and business-friendly environment set it apart from most EU countries. Its cosmopolitan ambiance and skilled workforce continue to prove attractiveness to entrepreneurs from across the globe."

Dubai: A pivotal hub for business

Following initiatives from government and business, economic ties between Türkiye and the UAE have witnessed a surge in foreign trade volume, spurred by strategic agreements inked in recent years. The UAE has emerged as Türkiye's 9th largest trading partner in 2023, with bilateral trade soaring to $5,253 billion.

The signing of the Memorandum of Understanding in September 2023 has further cemented the commercial bonds between The UAE and Turkey, amplifying interest in Dubai as a pivotal hub for business. With its favourable tax policies and investor-friendly ecosystem, Dubai is extremely attractive to entrepreneurs worldwide, drawing attention from both Turkish and British investors.

Turkish companies are flocking to Dubai

Ortac emphasised that the tax rate and tax regime are of great importance for businesspeople who plan to establish a company abroad and said: "The UAE, including Dubai, stands out among the countries that offer the lowest rates worldwide, with a corporate tax rate of nine per cent according to the tax law enacted by the beginning of 2024. Entrepreneurs who want to stay away from the high taxes and complex bureaucracy of the European Union prefer Dubai."

Dubai’s appeal resonates strongly with Turkish enterprises, as evidenced by a notable uptick in their presence within the Dubai Free Trade Zones, marking a 17 per cent increase in 2023 alone. Ortac highlights Dubai’s multifaceted appeal, stating, “Dubai offers not only a thriving business landscape but also an exceptional quality of life. Its Free Trade Zones provide modern living and business spaces, coupled with efficient company establishment processes,” he added.

Expanding opportunities with strategic partnerships

The MoU aims to bolster non-oil trade to $40 billion, with a five-year target of $25 billion. Ortac commented, “This agreement cements trade ties between Türkiye and the UAE, positioning Türkiye as a key trade partner in the Gulf region.”

Ortac International Accounting, in collaboration with the International Free Zone Authority (IFZA), expedites company establishment procedures, enabling clients to secure their investor visas within a week. Ortac explained "Our strategic alliance with IFZA streamlines the establishment process, making Dubai an even more attractive destination for global businesses."

Navigating foreign trade with experts at your service

Navigating foreign trade laws necessitates specialised expertise, a gap Ortac International Accounting seeks to bridge. Ortac emphasised the significance of working with seasoned professionals, stating, "Our team of experts overcomes bureaucratic hurdles, empowering businesses to achieve their expansion goals swiftly and efficiently."

Contact: Murat Ortac, dubai@ortacglobal.com



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