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Email: info@mevconsultants.com
Email: info@mevconsultants.com
Register a company in Uruguay
Company incorporation, bank accounts, accounting services in Uruguay
Registration packages
Services
Essential
Standard
Premium
Company registration (SRL)
Annual registered address
Notary services and company seal
Remote corporate bank account
Accounting services
Start your company in Uruguay
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How you can register a company in Uruguay with us
Submit shareholder and director information to our firm with a signed power of attorney
Settle a payment for registration and banking assistance
Receive corporate documentation of the registered company and access to the corporate bank account of your company
Key details about Uruguay
Uruguay is located in the southeastern region of South America. Uruguay has a territory of 181,034 square kilometers. Uruguay borders Argentina and Brazil and has access to the Atlantic Ocean. The capital city of Uruguay is Montevideo, the largest city and the location of key government institutions. Uruguay has a population of 3,52 million people.
Corporate taxation, VAT taxation, Personal taxation
- Corporate income tax - 25%. Tax returns are filed on an annual basis. Advance income tax payments are made each month
- Dividend withholding tax - 7% for payments to non-residents, payments to residents are tax exempt
- Interest withholding tax - Standard tax rate 12%
- Royalties withholding tax - 12%
- Capital gains tax - 25%
- VAT - Standard tax rate 22% or reduced rate of 0% and 10% or tax exempt. Tax returns are filed on a monthly basis for the majority of commercial enterprises
- Personal income tax - from 0% up to 36%.
The following are the most common types of companies to incorporate a company in Uruguay as:
- Limited liability company (Sociedad Comercial de Responsabilidad Limitada - SRL)
- Public limited company (Sociedad Anónima - S.A.)
- General partnership (Sociedad Colectiva - S.C.)
- Limited partnership (Sociedad en Comandita Simple - S. en C.S.)
- Partnership limited by shares (Sociedad en Comandita por Acciones - S. en C. por A.)
- Simplified Corporation (Sociedad por Acciones Simplificadas - S.A.S.)
- Branch office (Sucursal).
- Individuals or legal entities that are intending to register a company in Uruguay can either be resident or non-resident in Uruguay.
- A resident or a non-resident individual can be a company director in Uruguay. It is, however, required to set up a company in Uruguay with at least with a resident legal representative.
- At least 2 shareholders are required in order to register a company in Uruguay if such company is incorporated as a SRL (a limited liability company). An individual shareholder can simultaneously become a director of this company.
- It is not required to create substance (resident employees, office space) in Uruguay in order to establish a company in Uruguay or to conduct business in the country.
- No minimum share capital is established to start a company in Uruguay as a SRL (a limited liability company).
- SRL registration takes between 15 and 20 business days with the bank account taking up to 20 business days.
- Details of company founders, shareholders and directors after company registration in Uruguay is complete is publicly available in the state corporate register.
- With our service you can register a company and open a corporate bank account completely remotely in Uruguay upon a power of attorney.
Official currency of Uruguay is Uruguayan peso (UYU).
Uruguay has an export oriented economy with the largest export coming from agricultural sector. Uruguay is a regional hub for international finance and tourism. Most of its electrical grid has been converted to sustainable energy sources: solar, wind and hydro. Uruguay has a well-educated workforce along with high levels of social spending.
In terms of foreign trade the largest exports of the country are meat products, soya beans, wood, milk and cream, cheese, rice, malt, product packaging.
Imports of Uruguay consist of energy, petroleum, oil, natural gas, electrical machinery and equipment, cars and vehicles, electric conductors, consumer goods, medicaments, insecticides, rodenticides, fingicides, herbicides, disinfectants, mineral or chemical fertilizers.
Primary trading partners of Uruguay are Argentina, Brazil, Peru, Mexico, China, Algeria, Angola, the USA, India, Netherlands, Turkey, Germany, Spain, Italy.
The GDP of Uruguay grew by 4.4% in 2021 and amounted to USD 59,32 billion. Tertiary sector makes up 63% of the GDP of the country, followed by industry sector at 18% and agriculture at 7.5%.
Uruguay has an export oriented economy with the largest export coming from agricultural sector. Uruguay is a regional hub for international finance and tourism. Most of its electrical grid has been converted to sustainable energy sources: solar, wind and hydro. Uruguay has a well-educated workforce along with high levels of social spending.
In terms of foreign trade the largest exports of the country are meat products, soya beans, wood, milk and cream, cheese, rice, malt, product packaging.
Imports of Uruguay consist of energy, petroleum, oil, natural gas, electrical machinery and equipment, cars and vehicles, electric conductors, consumer goods, medicaments, insecticides, rodenticides, fingicides, herbicides, disinfectants, mineral or chemical fertilizers.
Primary trading partners of Uruguay are Argentina, Brazil, Peru, Mexico, China, Algeria, Angola, the USA, India, Netherlands, Turkey, Germany, Spain, Italy.
The GDP of Uruguay grew by 4.4% in 2021 and amounted to USD 59,32 billion. Tertiary sector makes up 63% of the GDP of the country, followed by industry sector at 18% and agriculture at 7.5%.
Foreign entrepreneurs expand to Uruguay and seek to incorporate a company in Uruguay in order to conduct business in the following sectors:
- ICT
- forestry and timber
- business services
- manufacturing
- pharma and life sciences
- wholesale and retail trading
- film industry
- tourism.
Benefits of registering a company in Uruguay
Business climate
- Uruguay is a member of the MERCOSUR agreement with Argentina, Brazil and Paraguay which established a free market between these states. This free market provides multiple benefits to companies registered in Uruguay
- Geographic location of Uruguay allows to establish maritime trade with North, Central and South American states, EU states, as well as with Asian states, Australia and New Zealand
- Foreign investment promotion
- Free port and free airport regimes
- Gateway to Latin America markets
- Well-developed infrastructure
- Political stability
- Secure legal and justice systems
- Comprehensive protection of property rights
- Comprehensive personal security
- Investment protection
Tax incentives
- Only Uruguay-source income is taxed which currently does not include capital invested abroad
- Free trade zones that provide corporate tax incentives
- Double tax treaties with several jurisdictions
Ease of doing business
- Both the company and the bank account can be opened completely remotely
- No minimum share capital requirement for a SRL in Uruguay
- No foreign exchange controls
Register your company in Uruguay
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