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When Do You Need a Legal Representative in Uruguay?

When Do You Need a Legal Representative in Uruguay?

Countries in Latin America and in the rest of the world see Uruguay as an exemplary country in the region for business. Uruguay is socially, politically and economically stable with legal security and a good investment grade. Regardless of the type of legal entity you choose when incorporating your company, you will require a legal representative in Uruguay. The role of the legal representative in Uruguay Each type of legal entity requires a legal representative in Uruguay. Legal entities must appoint a legal representative to declare the company’s will. This is where the legal representative comes into play. The legal representative in Uruguay is the one who acts in front of third parties to express the company's will and celebrate consequent legal deals. As a result, the company is bounded by the acts and contracts presented in these deals. Therefore, the legal representative in Uruguay will assume commitments and make decisions attributed to the company. A legal representative in Uruguay carries the following main responsibilities: Sign contractsCarry out procedures before public and/or private entitiesRepresent the company in court, either as an actor or a defendant, duly assisted by a lawyerPerform administrative activities. In summary, the legal representative has the broadest powers and responsibilities regarding the administration and representation of the company. This person must carry out all business, acts, and contracts that are aligned with the corporate purpose. Which companies need a legal representative in Uruguay? The three most common types of legal...

Top Sectors for Investment in Uruguay

Top Sectors for Investment in Uruguay

Uruguay has a strong democratic tradition, characterized by its political and social stability. It has an open and growing economy, with reliable and high-level institutions and a modern and attractive investment regime. To the credit of its developing business environment, it’s one of the fastest-growing countries in Latin America. The significant growth of the country in the last decade is associated with a sharp increase in investment. In Uruguay, Foreign Direct Investment (FDI) has reached record levels, allowing the country to position itself among the main recipients of FDI, in terms of GDP in South America. We explore the main economic sectors that stand out for investors looking to form a company in Uruguay. Why invest and do business in Uruguay? Uruguay is a country with a positive track record and trajectory for political, democratic and social stability, and macroeconomic solidity. This combination creates a highly advantageous environment for foreign investment and developing successful business ventures. Uruguay offers a very favorable environment for company expansion and incorporation in various sectors of the economy. Its various commercial incentives – such as its world-renowned Free Trade Zones - attract a wide variety of companies from different sectors. While many of Uruguay’s emerging sectors remain largely unsaturated, foreign investors should consider their market entry strategies now. Agriculture and agribusiness development is crucial Uruguay is still an essentially agricultural country, and there are valuable opportunities in this sector....

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