Benefits of Investing in Uruguay
By Natalia Silva Isasmendi, Carle & Andrioli Contadores Públicos
Uruguay is part of the most important commercial axis in South America, which includes Brasilia, Río de Janeiro, Sao Paulo, Santiago de Chile, Montevideo, and Buenos Aires. The axis has the largest urban concentration with 400 million people and 68% of Latin America’s GDP.
Foreign Direct Investment
The country offers political, economic, judicial, and institutional stability, guaranteeing security for foreign investments. National and foreign investors receive the same treatment. Moreover, there is no limit for foreign capital endowment in companies and no restrictions regarding their activities. This has positioned Uruguay as one of the countries with the most investment flows in relative terms within the region.
Uruguay has no restrictions on capital inflows or outflows. It also has freeexchange market and no issues with opening accounts on several currencies or remittances to foreign countries. Nevertheless, it is the country in Latin America that presents the lowest level of risk in terms of asset laundering and terrorism financing, according to international rankings.
The country has several fiscal incentives to promote investment, which are legally backed by investment promotion laws. These regulations are available for both national and foreign investors, and ever since their entry into force they have been widely used by foreign companies settled in Uruguay. According to offcial data, 44% of the investment amount in the 2009–2018 period was made by foreign companies. In 2018 it was around 30%.
Uruguay receives investments in the infrastructure area, in services (tourism, logistics, communications), in agricultural activity, software industry, meat processing industry, and forestry industry, among others.
Natalia Silva IsasmendiGGI member firm
Carle & Andrioli Contadores Públicos
Advisory, Auditing and Accounting, Corporate Finance, Tax
T: +598 24019911
Carle & Andrioli Contadores Públicos was established in 1991 and became an independent member of GGI in 2001. It offers consulting, audit, tax, and accounting advisory services. The firm currently has 40 employees and provides services to companies in the industrial, agricultural, commerce, and services sectors. Since 2010, all services provided are certified according to the ISO 9001:2015 norms by UNIT and the Spanish Association for Standardisation and Certification (AENOR).
Natalia Silva Isasmendi is a Managing Partner of consulting, accounting, and tax advice at Carle & Andrioli. She is a Public Accountant with a degree from Universidad de la República, Uruguay. She also holds an Advanced Management Programme Diploma from the ESADE Barcelona-Universidad ORT. Natalia is a lecturer at Universidad ORT.
Published: Trust & Estate Planning Newsletter, No. 05, Spring 2020 l Photo: Curioso.Photography - stock.adobe.com