Uruguay is located in Southern South America, and borders the South Atlantic Ocean, between Argentina and Brazil. Uruguay’s economy is characterised by an export-oriented agricultural sector, a well-educated work force, and high levels of social spending. Despite the recent global financial crisis, the country has managed to avoid a recession and keep positive growth rates, mainly through higher public expenditure and investment, and GDP growth reached 8.5% in 2010 and 6% in 2011. Uruguay offers an opportunity to register an offshore company in a Free Trade Zone which is exempt from all national taxes. Licensehub.in can assist you in setting up a company in Uruguay.
Setting up a company in Uruguay – what are the main features?
- Uruguay is a stable, secure jurisdiction with a sophisticated legal system and developed economy
- Uruguay is politically and economically stable, making Uruguay company formation a good long-term solution
- 100% foreign ownership is permitted
- A minimum of one director and one shareholder is required, who can be of any nationality and need not be resident in Uruguay
- Corporate shareholders are permitted
- Following the incorporation of a SAFI, shareholders’ and directors’ details are not available for public viewing
- If properly structured, a SAFI is legally exempt from corporation tax provided certain conditions are met. One such condition is that the company is not permitted to conduct business in Uruguay
- International entrepreneurs use the Uruguayan SAFI for the following activities: i) investing in securities, bonds, shares, notes, debentures ii) real estate investment and iii) legally tax-exempt international trade.
- A Uruguayan limited liability company is subject to a profits tax of 30% on international and local income
- A Uruguayan company is also required to register for value added tax (VAT), currently levied at 23%
Contact Licensehub.in for more information on setting up a company in Uruguay.