Doing Business in Uruguay

Baker Tilly: Our services

Foreign Trade

Uruguay offers tax benefits both for the transfer of goods and services rendered and tax exemptions in different business areas, such as Software. We commit ourselves to create the best strategy for your business

Free Trade Zones and Free Ports

Uruguay is a great alternative as a Logistics Hub since it offers 3 different beneficial regimes for Foreign Trade: Free Ports, Free Trade Zones and Resolution 51/997. Through our network of contacts and services, we carried out the processes of setting up and starting up your business in our country, centralizing all necessary services for the client.

Tax Planning

We offer comprehensive consultancy for legal and physical persons in order to optimize the fulfillment of tax liabilities in different jurisdictions, thus, optimizing tax burden.

Investment projects in Latin America

Despite the political dynamism of the world’s biggest economies, South America is a secure and valid option to be deemed in depth. Uruguay aims to strengthen key economic sectors, such as infrastructure, energy, technology, mining, services and logistics, by granting tax benefits through Investment Projects. We can advise you in designing, presenting and following up these Investment Projects.

Residences

We provide advice both on Tax and Legal Residences. Tax residence is under a preferential regime by which Income from Movable Capital (Dividends and Interests)during 5 years is exempt from IRPF (Individual Income Tax).

The United States of America

USA has become the most attractive country for financial investments and businesses during last years. Baker Tilly Uruguay together with well-known American attorneys have created the firm VD&T International. VD&T renders services regarding Residences, Legal, Accounting, Tax and Real Estate matters.

Access to an expanded market

Uruguay is a gateway to Mercosur. Free access to Mercosur means access to a market with over 270 million people, which accumulate 56% of Latin America’s GDP. By joining Mercosur and the Free Trade Agreement with Mexico, Uruguay has reached a tariff-free access to a market of 400 million people, which signifies 68% of Latin America’s GDP, and to a flow of foreign trade that accounts for almost 74% of Latin America’s total. Uruguay is positioned as a regional logistics hub, with a remarkable location as regards the wealthiest cities in the region. The free trade zone, free port and airport and Customs warehouses regulations provide an ideal framework for the setting up of distribution centers to supply goods to said cities. To access Uruguay’s international goods, services, state procurement, investments and double taxation agreements you can check International Agreements in our Investor Guide.

Benefits for Investors

Foreign Direct Investment (FDI) received by Uruguay reached US$ 915 million in 2016. Thus, the last decade had the strongest FDI growth in the history of the country. One of the key features of the country’s growth in the past ten years is the dynamism of investment. FDI in Uruguay has reached record levels, which has allowed to position the country among the top recipients of FDI in South America in the last decade. Not only Uruguay is a significant recipient of FDI, but also it is the main country in terms of profit reinvestment in Latin America 60% of all FDI profits are reinvested in Uruguay. This reinvestment percentage shows foreign investors’ trust in our country, the profits obtained and the good business environment. Investment in Uruguay, both national and foreign, is declared of national interest by law. Thus, foreign investors are granted the same incentives as local investors and there is no tax discrimination among them. No prior authorization or registration is required to operate and there are no restrictions on the transfer of capital or profits derived from investments.

Uruguay has several incentives which adjust to different types of activities, from industrial to commercial and service activities intended to be performed within the country. Schemes provided for by the Investment Law, industry incentives, free trade zones, free port and free airport schemes, public-private partnership agreements, industrial parks and temporary admission are some of the main incentive schemes available in the country. For more information on Uruguayan incentive schemes refer to Investment promotional schemes in our Investor Guide.

Political, legal and social stability

For many years the country has shown a strong political and social stability, supported by a consolidated democracy and strong legal certainty. Nowadays, the political system has three major parties which have taken turns in Government, always keeping a strong respect for the rules of the game and the essentials of economic activity.

This is regarded by investors as a distinguishing feature when it comes to choosing Uruguay as a mainstay for trust generation in business environment. By way of example, Uruguay ranks among the top countries in Latin America (and is well positioned in the world) according to the main rankings prepared by major institutions which gather information on aspects of political stability and democratic soundness. These indicators show that Uruguay is a country with a strong democratic tradition, based on transparent government policy and broad economic freedom.

Immigration Law and Residences

Our Attorneys render consultancy services in immigration law, as well as assistance in our clients’ residence proceedings and in obtaining the Uruguayan identity card

QUEDAMOS EN CONTACTO

Nos puedes escribir para recibir más información
sobre nuestros servicios o enviarnos cualquier tipo de consulta.