Why do so many foreigners choose Uruguay as their place to live and invest?
Let’s take a look at some of the reasons why a growing number of people decide to invest and live in Uruguay.
You can buy property: A foreigner can buy property in Uruguay. The process for buying a property in Uruguay is the same for permanent residents and for foreigners.
Private Property rights are strongly protected: There has been no history of expropriations.
Investor Friendly Country: Foreign investors and local ones are treated equally. There are no limitations to ownership of property by foreigners.
Strict banking secrecy and tax secrecy laws: Uruguay has a long-established tradition of bank secrecy. Client information at financial institutions is protected.
Easy relocation: The process for getting the residency is very simple. (I will dedicate a blog post explaining this) It takes approximately one year to obtain resident status. After 3/5 years, one can apply for citizenship/Passport.
Low cost of living: Uruguay has a great infrastructure and low prices. A lot of foreigners say that living in Uruguay is like living in Europe without paying European prices.
Tax free Income: Currently international incomes do not fall under the taxation system in Uruguay, so expatriates can receive their foreign income or pensions.
Pleasant Climate: Uruguay’s climate, although not tropical, is free from extreme temperatures. Summers are warm and enjoyable; winters (though cold) don’t have snow. Uruguay is free from natural disasters such as earthquakes and hurricanes which are common in other parts of the world.