Smart investors acknowledge that Uruguay is a good destination for investments coupled with banking privacy. Here is a look at Uruguay:
- Uruguay has the highest income per capita in South America.
- It is actually South America’s top receptor of international direct investment (FDI) per capita (with 1.8 B dollars received in 2010).
In 2010, the Uruguayan economy raised 8.5% in the seventh consecutive year of continual development, and even after enduring the 2008 global crisis remarkably well (its gross domestic product maintained positive growth that year).
Which are the factors behind this overall performance?
Uruguay is popular with investors for several motives – such as:
- A stable legal system.
- Political and economic stability.
- Social stableness, due to the presence of a middle class, considerably low rates of poverty and also the smallest ratio of income imbalance in Sotuh America.
- Minimal rates of corruption.
- An open economy, along with free circulation of capital and free currency convertibility.
- Identical treatment (warranted by law) to local and international investors.
- A strong banking system together with banking privacy legislation.
- Substantial tax incentives to investment initiatives, large and small.
- A dozen free trade zones, from where hundreds of international businesses operate with foreign customers and clients free of taxes.
Source: Fischer & Schickendantz