About Uruguay
The country
The Republic of Uruguay officially the "Oriental Republic of the Uruguay" (Spanish: "República Oriental del Uruguay"), is a country of Latin America. But it would be wrong to equate it to any of the Latin American countries, because nowadays Uruguay is characterized by enviable political stability and has extremely progressive social legislation. And, of course, the political stability is one of the decisive factors influencing the formation of reputation of the offshore jurisdiction.
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Uruguay is the third most reliable country in Latin America. Therefore, more and more entrepreneurs are tending to buy or register company in Uruguay.
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The geographical location of Uruguay is the Atlantic coast of South America. Uruguay shares its borders with such countries as Brazil (land border) and Argentina (the border passes through the Uruguay river). The country is poor in subsoil resources.
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The population of the republic (and it is more than 3 million people) is mostly immigrants from the European countries, such as Spain and Italy. There are French people, British people, and natives of Brazil.
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Spanish language has the status of the state language. At the same time, most Uruguayans use English and other European languages.
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The national currency is the Uruguayan peso.
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The capital of Uruguay in Montevideo is major financial and banking center of the country to date.
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The level of GNP per capita in Uruguay is one of the highest in Latin America.
The economy is based on agriculture (production and export of raw materials and finished goods).
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Key Issues for Investors
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Investor Friendly Country:
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Foreign investors and local ones: equal treatment
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No limitations to ownership of property by foreigners
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No restrictions to enter/exit the country
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Business rules are Investor Friendly:
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No currency exchange controls or forced conversion
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Foreign Currency can be used freely: Dollars, Euros, etc.
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Free flow of capital
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No capital/dividend repatriation issues
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Tax System for Businesses
•Applicable taxes:
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– Corporate Income Tax: 25% of net income (plus Dividend
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Distribution Tax: 5.25%) or:
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§ 12% of gross income, available for small businesses, or
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§ 0-2% of gross sales: available for small farms
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– Corporate Asset Tax: 1.5% (or less)
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§ Farmland: applicable only after 2,000 hectares, scaled *
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•Sale of goods and services: VAT of 22%
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•Import duties: variable