Uruguay is one of the leading countries in Latin America, and a presidential republic. The capital and the largest city is Montevideo. Spanish is the official language.
Advantages of using Uruguay as your jurisdiction of choice:
1. Political stability and progressive social-oriented law system
2. Well-educated workforce
3. Liberal tax legislation
4. Special tax regimes in free zones
5. Traditionally strong banking sector (including offshore banks)
6. High level of confidentiality and banking secrecy
7. Company financial and tax reports are not available to the public
8. Absence of currency control
Sociedad Anónima (SA)
• Does not do business within the territory of Uruguay
• Is allowed to issue bearer shares
• Is allowed to have corporate shareholders
• Company shareholders’ liability is limited by the value of their investment
• The value of the stated capital is not defined
• No residency requirements for company directors and shareholders
An SA may act as an investment corporation or an international trading company. It may be engaged in asset protection, commercial loans provision, or consulting. It may also act as a holding company and own intellectual property rights.
An SA is managed by a board of directors (at least one) appointed by the shareholders at the annual meeting, which can be convened anywhere. The use of proxies is permitted.
The register of shareholders is closed and is stored by the Central Bank of Uruguay.
A bank account can be opened in any currency. The account holder should provide a passport, address confirmation, bank reference letter, income confirmation and professional activity data.
Taxation and statutory requirements at a glance
The standard corporate tax rate in Uruguay is 25%. If the company income of an SA is not derived locally, it is not the subject of taxation in Uruguay.
An SA company in Uruguay should pay an annual fixed management duty (Impuesto de Control de las Sociedades Anónimas (ICOSA)).
If an SA holds a corporate account in a local bank, or other assets, it has to pay annual tax at a rate of 1.5%.
Accounting, audit and filing requirements
An SA company should maintain accounting records, prepare and file an annual report and prepare tax returns.
There are no audit requirements.
Please do not hesitate to contact us if you are interested.
Please note that we will require personal information in order to complete registration.