Uruguay Business Investment Program

Uruguay welcomes foreign nationals who wish to live in the country. There are no immigration quotas, and applicants are not required to invest in the country. Permanent legal resident status is always granted if the applicant meets a few simple requirements. Furthermore, Uruguay has a favourable tax residency system: new tax residents receive a ten-year tax holiday and are only taxed on two types of overseas income: dividends and interest, both of which are taxed at 12%. To avoid double taxation, Uruguay credits any tax paid on that income paid anywhere.

Documents Required

• Certificate of Birth
• Certificate of Marriage (if married)
• Police records from the applicant's home country and all countries where he or she has lived. This document cannot be older than six months.
• The only real requirement for a foreigner wishing to reside in Uruguay is to demonstrate that they have sufficient funds to support themselves and their family. The amount you declare must be appropriate for your lifestyle.
• Medical examinations are simple and quick, and they can be performed in Uruguay.

URUGUAY TAX RESIDENCE

Days Test: The individual spends more than 183 days in Uruguay in a calendar year. Except for two "temporary absences," these days must be consecutive. Temporary absences count as a 21-day absence within a 30-day period and are permitted twice per year. After passing the day's test, a person can apply for a Tax Certificate, which allows them to leave the country.

Family Ties: If a person's activities or vital interests are centred in Uruguay, they can become a tax resident even if the days test is not met. For example, if a person's spouse and children live and attend school in Uruguay, that person may be eligible for tax residence.

Equity: To become a tax resident by having main economic interests in Uruguay, a person must invest in real estate or start a business and spend at least 60 days per year in Uruguay. The minimum investment amount accepted for real estate is $390,000. The minimum amount for an enterprise is $1.7 million, provided that the company also creates 15 jobs during the year.

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