South American Real Estate News

Uruguay offers more inducements to attract new immigrates

Post available in: English

In June 2020: Uruguay reduced the real estate investment to $378,000 to gain residency with just a minimum of 60 days stay in the country each year.

Having beaten the virus impact with minuscule death toll compared to most other countries, the country is eager to welcome new residents and investors. The minimum is based on a local index, UI, or Unidad Indexada which currently equates to under USD 400,000. 

Click here for the PDF of the new residency plan dated June 2020 is now in place (Spanish). (There is a separate option for starting a business and providing 15 jobs instead which requires a higher investment than the real estate only option.) 

A partial translation and interpretation of the relevant parts of the Spanish version are:

Option 1: An immigrant must purchase real estate of a value greater than 3,500,000 IU (approx USD 389,000), after the 1st of July 2020 but be prepared to live in Uruguay for a least 60 days of the year.

Option 2: By employing full time 15 or more local Uruguayan, directly or indirect, in a new company with a cost greater than 15,000,000 IU (fifteen million Units lndexadas) per year, provided that it is made from the 1st July 2020.

President LaCalle Pou Luis

These measures are in addition to the many other incentives that Uruguay offers investors.

Contact us if you are looking for a law firm recommendation to help navigate these new rules.

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Gateway to South America was established in 2006 as a single office in Buenos Aires. The company has since expanded into a vibrant regional network, servicing the Southern Cone clients in Argentina, Brazil, Chile, Paraguay, Peru and Uruguay with professional real estate marketing services. If you enjoy reading our news site please share it on your social media below.

Post available in: English


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