South American Real Estate News

Proposed New Visa Rules Make Uruguay a Haven to Watch for 2020

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Stable and secure Uruguay is set to get even more attractive for Americans looking for a sophisticated, good-value escape abroad. That’s according to the editors at International Living, who explore the strong possibility that new visa and tax rules will make it easier and faster to get residence and provide new incentives to attract business.

“Uruguay makes a lot of sense for retirees and other expats in the market for a safe, stable, good-value, First World experience,” says IL Contributor, Jeff Opdyke, who recently returned from there. “And word on the street is that the country’s newly elected center-right government plans to simplify bureaucratic requirements and dramatically speed up the process for gaining residence.

“Right now, that takes about a year and requires six months of living in the country—not such a bad deal already, given Uruguay’s attractiveness as a place to live. But the new approach would make it even easier to stay there.”

Even though Uruguay is a small country, it offers a great variety of lifestyle options. Choose among places like Montevideo, the capital city with an active cultural scene; Punta del Este, the continent’s most sophisticated beach resort;

Uruguay is also among the top countries in the region when it comes to infrastructure. Here, you’ll find less economic disparity than anyplace else in Latin America.

Uruguayan culture is noted for tolerance and inclusiveness. Expats who are respectful of Uruguay’s culture and make an effort to learn some basic Spanish report feeling comfortable and accepted here.

And now, visa changes are afoot that could make it even more attractive than ever.

In November 2019, a new, center-right government won the Uruguayan presidency after 15 years of leftists—and that bodes well potentially for Americans (and others) looking for a place to gain residence.

Though details have not been fleshed out, the new, pro-business government says it wants to attract residents, business, and investment to this small, stable, democratic, middle-class South American nation wedged between Brazil and Argentina.

According to sources on the ground, the plans include simplifying bureaucratic requirements and dramatically speeding up the process of gaining residence, which currently takes about a year and requires six months of living in the country.

The incoming government will also look to provide new tax incentives to attract residents and businesses to the country, sources say, expecting to address the topic this spring.

Source: International Living

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Post available in: English


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