Foreign company- Tag Archives - Business News and Updates

With a population of only around 3.5 million, South America's Eastern Republic of Uruguay is an often overlooked investment destination. With the likes of Brazil and Argentina acting as very noisy neighbours, it is understandable why some look elsewhere, but Uruguay is, in fact, one of South America's most stable and hospitable environments for foreign investment. With favorable trade and international investment laws, those who do include it as the nation as one of their operational homes reap all the benefits of the highly-educated workforce, a stable investment environment and beautiful climate - all provided by the growing economy that is Uruguay.   Why Should I Set Up my Business in Uruguay? One of the more stable economies in Latin America in many aspects, Uruguay has a world of benefits available to the wondering investor. Some include: 1) Powerful Annual Growth History. One of the leaders of the region where stability is concerned, stemming from attempts by recent governments’ focus on build an Uruguayan economy more robust against economic downturns. During the period from 2003 until 2016 in which the rest of the world averaged growth under 3%, the country managed to maintain an average annual growth of 4.5%. Uruguay's impressively consistent growth has been fueled mostly by the commerce, hospitality, transportation and communication sectors. 2) High Regional Per Capita GDP & Development. Uruguay's 2017 per capita GDP of around USD$16,250 placed it 4th in the region (including the Caribbean) - this places it ahead of the bigger economies in the region. This...

Sitting comfortably as one of the highest per capita GDP nations in South America, Uruguay is a, sometimes overlooked nation, with much to offer both its native and foreign population. Uruguay, after Chile, has the second highest level of human development in the region. This is in no small part down to the tireless work of government's past and present throughout the last 50 years to make effective change for the majority through social policy - and make effective change, they have. Where foreigners are concerned, one of the most appealing things about the Uruguayan economy among other traits is its openness to foreign business and investment, providing willing investors from abroad with relative ease in moving their operations to the country. This article will walk you through the general processes of establishing a local business and opening a corporate bank account in Uruguay.   Getting started on Establishing a Business in Uruguay The overall process of establishing the company in the country takes around between 2-3 months after having entered the "One-Stop Shop" (Empresa en el día) system. The following steps must be followed: 1) Enroll in the Public and General Registry of Commerce (Registro Nacional de Comercio) and present the following: a - the company social contract which specifies the corporate purpose, detail information about the partners, notarial signatures of the owners of the company.  b - the resolution of the company to establish itself in the country.  c - the indication of the company's address in Uruguay.  d - the designation of the person/s who...