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Stable South American country with territorial tax system
Region
SOUTH AMERICA
Corporate Tax
25%
Setup Time
3 weeks
Currency
UYU
Uruguay, a small South American nation between Argentina and Brazil, offers exceptional stability and progressive policies. The country's company registration framework supports business setup for those valuing predictability.
With a population of 3.5 million, Uruguay offers pleasant living with strong social services. Spanish is official. The climate is temperate with four distinct seasons.
Healthcare is good through public and private systems. Safety is excellent by regional standards. The cost of living is moderate.
The beaches, estancias, and progressive social policies attract lifestyle migrants.
Corporate tax rate stands at 25%. Personal income tax reaches 36%. VAT applies at 22% standard rate. Free zones offer exemptions.
The Uruguayan peso is freely traded. The economy features agriculture, services, and IT. Free zones have attracted logistics and shared services.
Company registration through the Registro Nacional de Comercio is established. S.A. (stock corporation) and SRL (limited liability) are common. Foreign ownership is unrestricted.
Company formation takes approximately 2-4 weeks. Minimum capital varies by structure. Annual compliance includes filing requirements.
Uruguay has not established specific crypto license frameworks but has been relatively progressive on fintech. The Central Bank has studied CBDC development.
Gambling is state-controlled through Dirección General de Casinos. Online gambling licensing for private operators is limited.
The small market requires regional focus or export orientation. Geographic position creates logistics considerations. Professional services are developing.
Banking access is available. Uruguay's stability premium is its key differentiator in the region.
Uruguay suits businesses valuing South American stability, agricultural operations, and regional logistics for their business setup.
Local: SRL
Local: S.A.
| Corporate Tax Rate | 25% |
| Personal Income Tax Rate | 36% |
| VAT / Sales Tax | 22% |
| Capital Gains Tax | 12% |
| Withholding Tax | 0% or 7% |
| Reduced Corporate Tax Available | Yes |
| Non-Resident Withholding Exempt | No |
| Tax Treaty Network | Yes |
| Banking Access | HIGH |
| Financial Privacy | MEDIUM |
| Currency Controls | NONE |
| Local Bank Account Required | No |
| Non-Resident Bank Account Allowed | Yes |
| Physical Presence for Banking | Yes |
| Banks Restrictive (High Risk) | No |
| AML Officer Required | No |
| MLRO Required | No |
| Compliance Officer Required | No |
| Data Protection Officer Required | No |
| Bookkeeping Frequency | Annual |
| Local Bookkeeping Required | Yes |
| Mandatory Audit | No |
| License Required | Yes |
| Local Director Required | No |
| Local AML Director Required | No |
| Local Legal Address Required | Yes |
| Local Physical Office Required | No |
| Capital Maintained in Account | No |
| Compliance Program Required | Yes |
| Travel Rule Compliance | FATF Travel Rule (framework under development) |
| Business Plan Required | Comprehensive business plan required with operational details |
| Personnel Required | Compliance officer, AML officer required |
| Insurance Required | No |
| Remote Incorporation Possible | Yes |
| 100% Foreign Ownership | Yes |
| Min. Shareholders | 2 |
| Min. Directors | 1 |
| Shareholder/Director Same Person | Yes |
| Registry Public | No |
| Registry Access | Central Bank of Uruguay maintains confidential VASP registry |
| Renewal Period | Annual |
| Accounting Filing Required | Yes |
| Accounting Filing Frequency | Annual |
| Financial Statement Required | Yes |
| Financial Statement Frequency | Annual |
| Accounting Audit Mandatory | No |
| Compliance Audit Mandatory | No |
| Technical Audit Mandatory | No |
| Corporate Income Tax Applicable | Yes |
| Dividend Tax Applicable | Yes |
| Capital Gains Tax Applicable | Yes |
| Territorial Tax Regime | Yes |
| VAT Applicable | Yes |
| Regulators | Central Bank of Uruguay (BCU) through Superintendency of Financial Services (SSF) |
| Licensing Fee Details | Fees under development - regulatory framework published August 2025 |
| Permitted Business Models | Exchange, Custody, Wallet services, Mining |
| Permitted Activities | Trading, custody, transfer of virtual assets, financial services related to virtual assets |
| Cross-Border Service Allowed | Yes |
| Physical Inspection Required | No |
| Derivatives Allowed | No |
| RWA Tokenization Allowed | No |
| App Store Listing Allowed | Yes |
| Crypto Custody Allowed | Yes |
| License Required | Yes |
| Local Director Required | Yes |
| Local AML Director Required | No |
| Local Legal Address Required | Yes |
| Local Physical Office Required | Yes |
| Capital Maintained in Account | No |
| Compliance Program Required | Yes |
| Travel Rule Compliance | N/A for gambling |
| Business Plan Required | Comprehensive business plan required |
| Personnel Required | Local management required |
| Insurance Required | No |
| Remote Incorporation Possible | No |
| 100% Foreign Ownership | No |
| Min. Shareholders | 2 |
| Min. Directors | 1 |
| Shareholder/Director Same Person | Yes |
| Registry Public | No |
| Registry Access | National Directorate of Lotteries and Quinielas maintains operator registry |
| Renewal Period | Annual |
| Accounting Filing Required | Yes |
| Accounting Filing Frequency | Annual |
| Financial Statement Required | Yes |
| Financial Statement Frequency | Annual |
| Accounting Audit Mandatory | Yes |
| Compliance Audit Mandatory | Yes |
| Technical Audit Mandatory | Yes |
| Corporate Income Tax Applicable | Yes |
| Dividend Tax Applicable | Yes |
| Capital Gains Tax Applicable | Yes |
| Territorial Tax Regime | Yes |
| VAT Applicable | No |
| Regulators | National Directorate of Lotteries and Quinielas, General Directorate of Casinos |
| Licensing Fee Details | State monopoly on online gambling; land-based casino concessions available in Tourism Zones. New online gambling regulation expected 2026. |
| Permitted Business Models | Land-based casinos (private licensees in Tourism Zones), State-operated online sports betting only |
| Permitted Activities | Land-based casino games, sports betting (state operator La Banca only for online) |
| Restricted Activities | Online casino and poker games banned for private operators; only state-authorized entities permitted for online gambling |
| Cross-Border Service Allowed | No |
| Physical Inspection Required | Yes |
| Player Fund Segregation | Yes |
| B2B/B2C Separate Requirements | No |
| License Required | Yes |
| Local Director Required | Yes |
| Local AML Director Required | Yes |
| Local Legal Address Required | Yes |
| Local Physical Office Required | Yes |
| Capital Maintained in Account | Yes |
| Compliance Program Required | Yes |
| Travel Rule Compliance | FATF compliant |
| Business Plan Required | Comprehensive business plan with 3-year projections required |
| Personnel Required | Local management, Compliance Officer, AML Officer, qualified directors |
| Insurance Required | No |
| Remote Incorporation Possible | No |
| 100% Foreign Ownership | Yes |
| Min. Shareholders | 2 |
| Min. Directors | 1 |
| Shareholder/Director Same Person | Yes |
| Registry Public | Yes |
| Registry Access | Central Bank of Uruguay authorized financial institutions list - https://www.bcu.gub.uy |
| Renewal Period | Annual |
| Accounting Filing Required | Yes |
| Accounting Filing Frequency | Annual |
| Financial Statement Required | Yes |
| Financial Statement Frequency | Annual |
| Accounting Audit Mandatory | Yes |
| Compliance Audit Mandatory | Yes |
| Technical Audit Mandatory | No |
| Corporate Income Tax Applicable | Yes |
| Dividend Tax Applicable | Yes |
| Capital Gains Tax Applicable | Yes |
| Territorial Tax Regime | Yes |
| VAT Applicable | Yes |
| Regulators | Central Bank of Uruguay (BCU) - Superintendency of Financial Services (SSF) |
| Licensing Fee Details | Authorization from Executive Power required with prior favorable report from BCU. Fees vary by institution type. |
| Permitted Business Models | Financial Institutions, External Financial Institutions, Financial Intermediation Cooperatives, Electronic Money Issuers |
| Permitted Activities | Financial intermediation, payment services, electronic money issuance (with specific authorization), foreign exchange |
| Restricted Activities | Collecting deposits from residents and demand deposits requires full banking license |
| Cross-Border Service Allowed | Yes |
| Physical Inspection Required | Yes |