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Doing Business
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Doing Business in Uruguay


In the course of the past twenty years, Uruguay has been making its mark as a growing and authentic international financial centre. Uruguay is characterised by solid banking provisions, political stability, excellent communications, a pleasant climate and a favourable tax system. Uruguay is an excellent location to minimise taxes while doing business in the area.

Uruguay is a member of most international organisations and is a founding member of the Southern Common Market (Mercado Común del Sur or MERCOSUR).

Forms of Business Organisation

The most common business entities in Uruguay are: company limited by shares, limited liability partnership, a branch of a foreign company, free trade zone corporation, and joint ventures.

Company Limited by Shares

The incorporation of Sociedad Anónima (SA), also known as a company limited by shares, requires a minimum of two founding members. They can be local or foreign individuals or legal persons. The company limited by shares is free to hold assets and undertake business anywhere in the world, including Uruguay itself. Shares can be issued either in registered or bearer form. There are no minimum capital requirements and restrictions on the number of shareholders. However, one quarter of the capital must be paid up.

Limited Liability Partnership

The Limited Liability Partnership (SRL) is most often used by small and medium-sized business entities. The partners can have from two to fifty partners who are liable up to the amount of their capital contributions. There is no minimum or maximum authorised capital.

Branch of a Foreign Company

Branches of foreign companies are entitled to perform the same kind of activities as the head office. The head office is fully liable for the obligations of the Uruguayan branch. Because the branch is a foreign company, it is unable to transform itself adopting a different type of legal structure. The branch is obliged to keep separate accounting records for Uruguayan operations in Uruguayan peso and in Spanish.

Free Trade Zone Corporation

Free trade zone corporations are created with the objective of carrying out business activities within free trade zones. Free trade zone corporations may conduct a wide variety of industrial, trade, and service activities.

Joint Ventures

Joint ventures are common in Uruguay. They do not constitute companies or legal entities. Joint ventures are considered contracts of an associative nature.





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