To open a corporate bank account in Uruguay, a country whose financial market is in a moment of high growth, liquidity, and profitability, should be one of the first steps when incorporating a company or expanding your business. The main financial entities operating in Uruguay have investment grade at a national and international level, which reflects the strength of the Uruguayan financial system, constantly supervised by the Central Bank of Uruguay. Furthermore, governmental and non-governmental institutions are constantly promoting foreign investment in the country, now considered as one of the best places to do business in Latin America. In this article, we explain how to open a corporate bank account in Uruguay to support your business transactions. Requirements to open a corporate bank account in Uruguay Financial system in Uruguay is made up of public, private and non-banking entities. The Uruguayan financial system is made up of 2 public banks, 9 private banks, and a wide variety of non-banking institutions that have consolidated in the country. Each entity will request the documentation it deems relevant for opening a corporate bank account. However, the required documentation is usually the same. When opening a corporate bank account in Uruguay, most banks will request the following documents: Articles of Incorporation or association of the companyProof of registration in the Commercial RegistryOfficial Journal publicationsFinal beneficiaries communication for the Central Bank of Uruguay Proof of registration of the company before the tax and social security...
