Understand the Jurisdictions Setup Requirement Before Proceed Your Uruguay Company Formation
There is no doubting that Uruguay is rife for business. It is among the fastest growing economies in Latin America, and as such, a natural magnet for foreign investors keen on expanding into the region’s markets. The lucrative mining environment, incredible businesses opportunities in renewable energy and the business-friendly incentives by the government are some of the reasons for the astonishing growth in the country’s economy. If you are one of the investors with plans of setting up shop in Uruguay, we are here to provide you with affordable, reliable and customized Uruguay company formation services. Regardless of the business entity, you are interested in, we are confident that with our team of expert lawyers, accountants, and tax experts. When you work with us, your company formation will be a major success.
Why Incorporate a Company in Uruguay
There are so many things going well for Uruguay’s economy. Starting a business here now seems like a natural thing to savvy investors with the means to do so. If you’re wondering why Uruguay is a good destination for your investments, here are some of the reasons to consider:
Easy Access to Argentina and Brazil – Uruguay provides a great platform for business, given that it has easy access to the region’s economic powerhouses – Argentina and Brazil. This means that you will also easily access these markets for maximum growth and profitability.
Strong Service Sector – the service sector in Uruguay is among the best in LATAM. It means that you will not have to worry about hiring foreigners because you will find the right experts without leaving the borders of the country.
Equal Treatment for Foreign Investors – the government has no preferences when it comes to how it treats foreign investors in Uruguay. Every investor gets the same treatment and has the same environment so that they can grow their businesses in the best way they know how.
Competitive Tax Rates – the tax rates in Uruguay are relatively lower compared to other countries in the region. This is another reason why so many investors are interested in Uruguay company formation, and not investing in any of the other Latin America countries.
Types of Legal Entities in Uruguay
There are various legal entities you may choose for investing in Uruguay. Your choice will primarily depend on the nature of your business and the amount of capital you have. Feel free to contact us for a careful analysis of your business activity proposal. We can then advise you on the best entity to go for. Here is a look at some of the legal entities you may consider-:
- Public Liability Company
- Limited Liability Company
- Branch Office
- Free Trade Zone Company
The Process of Company Formation in Uruguay
The steps to follow in registering your company in the country are the following:
- Drafting and signing the power of attorney
- Creating the company bylaws
- Registering the company with the relevant national and state authorities
- Obtaining the company id and tax numbers
- Subscribing the initial company capital
- Opening and activating the company’s business accounts
At 3E Accounting, we can help you through the above steps of Uruguay company formation. Contact us today and let’s talk about the way forward to helping you incorporate a new company in Uruguay.