Why Live and Invest in Uruguay?
Uruguay’s coastline is characterized by stretches of pristine unspoiled beaches, lakes and countryside. The country is also renowned for its vast wide open spaces, with the highest agricultural land space per person in the world. Clover-fed beef cattle are farmed on the lush evergreen pastures, and Uruguayan organic meat, like Argentinean, is known to be the best in the world. The air is incredibly clean and the natural environment is highly respected.
The pleasant oceanic climate and southern hemisphere seasons makes Uruguay an ideal holiday destination during the European winter, and a particularly attractive place to build a second home, retire, invest or simply to diversify. Uruguay is free from extreme climatic conditions, such as earthquakes, tidal waves, hurricanes, sand and snow storms, and extreme temperatures. Challenging to picture it, but in Uruguay one can find both palm trees and penguins.
High quality of life
Uruguay has the best overall infrastructure in the region with quality housing, good transport services, world-class medical care, and free education for its citizens. Uruguay was the first country in the Americas to digitalize its entire telecommunications network, and has full mobile-phone and high-speed internet coverage. With a high-quality lifestyle at affordable prices, the cost of living in Uruguay is 40 to 60% lower than in the USA and the European Union, particular due to the low-cost service sector.
Uruguayans are a warm and sociable people, always ready to lend a helping hand. They place a high value on family and friendship. Uruguayans are largely of European descent, following emigration in the 19th Century. Uruguay has a history of high literacy, and education is constantly expanding in the country. As such many Uruguayans also speak English as a second language.
Safety and stability
Uruguay has a history of being the safest and most politically and economically stable country in Latin America, and is also top ranking in the continent for transparency and lack of corruption. Social stability is also established, with the presence of a middle class and the lowest income gap in South America. Uruguayans are a peaceful people, and live in harmony with their neighbours and other countries of the world. Uruguay is a safe place to live and invest in.
Growing real estate market
In the last five years, the Uruguayan real estate industry and property development has experienced a significant growth, with a steady rise in the value of properties. Country properties have fantastic investment potential for inexpensive hectares of land, including small farms, vineyards, orchards, and ranches. Bargain prices can also be found for many beach chalets or apartments, and these have excellent rental potential during high season, especially in Punta del Este.
The benign income and wealth tax laws are not onerous for non-residents and are designed to encourage foreign visitors and investors to become Uruguayan residents. There is also free repatriation of profits upon the resale of property (no restriction or taxes when money is transferred into and out of the country).
Robust financial market
Uruguay has established secrecy regulations and accounts can be opened in international currencies (Euros, Dollars etc…), which can protect from fluctuations in the local Uruguayan currency. Currency exchange is not restricted. The domestic financial market is strong and Uruguay has withstood well the major economic crises which affected neighbouring countries in recent years.
Both residents and non-residents can invest freely with secure land registry titles, regardless of nationality, and with high capital appreciation potential. The country is an excellent testing-ground for innovative products and ideas, which can then be extrapolated internationally. In fact, large multinational corporations, including IBM, Sabre, Tata Consultancy Services and Xerox, have established operational platforms in Uruguay, due to the country’s strategic location, low operating costs and well-qualified Uruguayan population.
Solid legal system
All individuals are treated equally by the legal system which is highly reputable for its respect of contracts and private property laws. The impartiality of Uruguay’s jurisdiction and the Government bodies creates an ideal framework for investing in rural and urban real estate.