{"id":7351,"date":"2016-11-09T11:00:01","date_gmt":"2016-11-09T16:00:01","guid":{"rendered":"http:\/\/www.escapeartist.com\/?p=7351"},"modified":"2020-08-28T07:54:04","modified_gmt":"2020-08-28T11:54:04","slug":"uruguay-favorite-investment-residency-citizenship","status":"publish","type":"post","link":"https:\/\/www.escapeartist.com\/blog\/uruguay-favorite-investment-residency-citizenship\/","title":{"rendered":"Uruguay: A Favorite for Investment, Residency, &#038; Citizenship"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Uruguay, a small South American country of European heritage, has been known for decades as a beacon of stability and safety. \u00a0And, in recent times, it has been increasingly attracting Americans and Europeans seeking new alternatives for safe investments, residency, and citizenship.<\/span><\/p>\n<p>Are you an <a href=\"https:\/\/www.bizlatinhub.com\/meet-the-team-craig-dempsey-entrepreneur\/\" target=\"_blank\" rel=\"noopener noreferrer\">entrepreneur<\/a>, looking to start a business in Uruguay? <a href=\"https:\/\/www.bizlatinhub.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">Biz Latin Hub<\/a>, from Colombia, helps companies maneuver through the legal aspects of making life in a new country a realty. Every country is so different, and Craig Dempsey and his team can help make Uruguay your new companies home.<\/p>\n<p>Here are the reasons to make Uruguay your new home!<\/p>\n<h2><strong>What makes Uruguay stand out?<\/strong><\/h2>\n<p><span style=\"font-weight: 400;\">For starters, it is the country with the highest GDP per capita in Latin America; it has a broad middle-class, modern infrastructure, and solid institutions. \u00a0Foreign and local investors receive equal treatment, private property is strongly respected, and there are no restrictions on the movement of capital in and out of the country.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Transparency International has consistently rated Uruguay as the least corrupt country in Latin America throughout the years. \u00a0\u00a0The Economist Intelligence Unit rates Uruguay as the most democratic country in the continent. The World Justice Project rates the country at the top of the list in terms of rule of law.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Uruguay\u2019s advantages can be summarized by:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">A solid and predictable legal system.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Political and economic stability.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Social stability, thanks to the existence of a middle class, relatively low levels of poverty, and the lowest ratio of income disparity in Latin America.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Low rates of corruption.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">An open economy, with free flow of capital (inward and outward) and free convertibility of currency.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Equal treatment for local and foreign investors, guaranteed by law.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">A solid banking system.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Generous tax incentives to investment projects, large and small.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">A dozen free trade zones, from which hundreds of global companies operate with offshore customers, tax-free.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">So, what does Uruguay offer? \u00a0Among the many attractions that the country has, this article will focus on those benefits that most expats seek:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">An easy residency, citizenship, and second passport program.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Farmland investments.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Real estate, either as an investment or a residence.<\/span><\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<h2><b>Easy Residency, Citizenship, and Second Passport<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Uruguay has a stated policy of welcoming foreign nationals who wish to live in the country. \u00a0There is no immigration quota, nor does Uruguay\u00b4s immigration authority discretionally reject applications.\u00a0 It is not required that the applicant invest in the country, either. \u00a0As long as the applicant meets some simple requirements, permanent resident status is always granted.\u00a0 <\/span><\/p>\n<p><span style=\"font-weight: 400;\">The documents that are required are: the applicant\u2019s birth certificate, a clean police record (which, for U.S. citizens, can be requested in Uruguay itself, at the local Interpol office), and proof of some source of income to support oneself.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The moment the application is turned in, the candidate is granted Temporary Legal Resident status and receives a Uruguayan identity document. \u00a0The file then travels through a series of verification steps and, usually within six to eight months, Permanent Legal Resident status is obtained.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Uruguay allows dual and triple citizenship, and the country\u2019s passport is a very reputable one. \u00a0So, if after residency, one also wishes to obtain Uruguayan citizenship (and a second passport), the applicant needs to wait three years (if married), or five years (if single). This period starts to run from the moment one first arrived in Uruguay to file for residency, and the person needs to spend six months out of each of those 3 or 5 years in the country to obtain citizenship. \u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The formal requirements to obtain citizenship are simple: two witnesses who can attest to the applicant\u2019s connection to the country and documents that show activity in the country (such as visits to a doctor or a dentist, payment of social security taxes on an employee, a work contract or ownership of a business).<\/span><\/p>\n<p>&nbsp;<\/p>\n<h2><b>Farmland Investments<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Farmland investing in Uruguay is one of the most attractive global investment options for the medium and long term. This is due to several factors:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The fact that Uruguay is one of the most suitable places in the world for farming, cattle breeding, and forestry developments. This is thanks to the country\u2019s climate, non-degraded soil, and water availability.<\/span><\/li>\n<\/ul>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Uruguay&#8217;s record on protecting foreign investment, its solid legal system, and its stability.<\/span><\/li>\n<\/ul>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The ease for a non-farmer to invest in farmland, given the country\u2019s widespread technical expertise, infrastructure, and farm management available.<\/span><\/li>\n<\/ul>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The transparency of the market. Every property\u2019s soil types and productivity rating is available online. This allows for a straightforward verification of a property\u2019s potential and the ability to compare it with others.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Uruguay offers three main options for farmland investors:<\/span><\/p>\n<h3><strong>Agriculture<\/strong><\/h3>\n<p><span style=\"font-weight: 400;\">Row crops, especially soybeans and wheat, and to a lesser extent corn, barley, and sorghum are the main crops being planted in Uruguay\u2019s agricultural heartland. The country\u2019s soil quality, climate, and infrastructure have placed it as a global player, and today the country is the 6th-largest global exporter of soybeans, 5th in dairy products, and 4th in rice.<\/span><\/p>\n<h3><strong>Cattle Breeding<\/strong><\/h3>\n<p><span style=\"font-weight: 400;\">Uruguay breeds mainly Hereford and Angus cattle, 90% of it on natural pastures, and the use of antibiotics and growth hormones is prohibited. It is the only country in the world with 100% traceability of its cattle herd, from birth to slaughter. The country has a high sanitary status, which grants it access to the top global markets (Uruguay&#8217;s beef exports, which account for 5% of global sales, reach over 150 countries).<\/span><\/p>\n<h3><strong>Forestry<\/strong><\/h3>\n<p><span style=\"font-weight: 400;\">Uruguay has the world\u2019s fastest rate of growth of eucalyptus for paper pulp. The industry was jump-started by a promotion law passed 25 years ago, and since then it has grown exponentially. In recent years, Finland\u2019s UPM and Sweden\u2019s Stora Enso installed the world\u2019s two largest and cleanest pulp mills in western Uruguay. Stora Enso will open a third one in 2018, and with it, Uruguay will become the second global exporter of short-fiber pulp. In addition, the country enjoys the highest sustainability FSC certification in the world: over 80% of its forests are certified.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Investing in farmland is simple, and thanks to the widespread technical expertise available, it\u2019s an easy turnkey investment to have.<\/span><\/p>\n<p>&nbsp;<\/p>\n<h2><b>Real Estate<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Foreign buyers of real estate are attracted by the diversity of options Uruguay offers, whether one is buying a full-time home or one to enjoy for part of the year.<\/span><\/p>\n<p><i><span style=\"font-weight: 400;\">Montevideo<\/span><\/i><span style=\"font-weight: 400;\">, the country\u2019s capital and most populous city, offers pleasant coastline neighborhoods and colonial architecture with pedestrian streets in the Old City. \u00a0Condos, single homes, and large estates are available within short distance. <\/span><\/p>\n<p><i><span style=\"font-weight: 400;\">Punta del Este<\/span><\/i><span style=\"font-weight: 400;\">, a seaside city 90 miles east of Montevideo is a favorite with foreign buyers. \u00a0South America\u2019s premier beach destination, also known as the Riviera of the south, Punta del Este offers unparalleled beauty and taste on a large stretch of diverse white sand beaches. \u00a0Sailing, golf, polo, and fine dining are widespread. \u00a0The lifestyle option that Punta del Este offers is ideal for buyers of all ages, whether they are moving permanently or spending a season in Uruguay. <\/span><\/p>\n<p><i><span style=\"font-weight: 400;\">Colonia<\/span><\/i><span style=\"font-weight: 400;\">, a 17<\/span><span style=\"font-weight: 400;\">th<\/span><span style=\"font-weight: 400;\">-century World Heritage town 120 miles west of Montevideo, comes in third among favorites with expats. \u00a0It\u2019s a small-scale town on a wide river, with cobblestone streets lined by cafes and restaurants and abundant colonial architecture.<\/span><\/p>\n<p><i><span style=\"font-weight: 400;\">Lifestyle farms<\/span><\/i><span style=\"font-weight: 400;\"> complete the list of most popular real estate options. \u00a0They abound around the cities of Colonia and Montevideo and especially in the hills just north of Punta del Este. \u00a0Usually 10 to 20 acres in size, they offer the farm lifestyle with the convenience of a modern home and proximity to a main city.<\/span><\/p>\n<p><strong>For information on going offshore, please read: <a title=\"The Ultimate Guide To Going Offshore\" href=\"https:\/\/www.escapeartist.com\/blog\/ultimate-guide-to-going-offshore\/\" target=\"_blank\" rel=\"noopener noreferrer\">The Ultimate Guide To Going Offshore<\/a><\/strong><\/p>\n<p><strong>If you&#8217;re ready to incorporate in a Latin American Country, call <a href=\"https:\/\/www.bizlatinhub.com\/company-formation\/\" target=\"_blank\" rel=\"noopener noreferrer\">Biz Latin Hub<\/a>.<\/strong><\/p>\n<p><strong>One of the biggest challenges is learning a new language. Most of the countries in South America speak <a href=\"https:\/\/learn.iwillteachyoualanguage.com\/spanish-beginnersfz5inudw?affiliate_id=1764132\" target=\"_blank\" rel=\"noopener noreferrer\">Spanish<\/a>, with Brazil as the only country that speaks Portuguese. To make the transition easier for you, I would suggest you reach out to our partners at <a href=\"https:\/\/expatmoneyshow.com\/languages\/\" target=\"_blank\" rel=\"noopener noreferrer\">ICanTeachYouALanguage<\/a> and sign up for their top notched language program. You won&#8217;t be disappointed. If you act now, I believe their is a $100 rebate when you use our link. Good Luck!<\/strong><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Uruguay, a small South American country of European heritage, has been known for decades as a beacon of stability and safety. \u00a0And, in recent times, it has been increasingly attracting Americans and Europeans seeking new alternatives for safe investments, residency, and citizenship. Are you an entrepreneur, looking to start a business in Uruguay? Biz Latin [&hellip;]<\/p>\n","protected":false},"author":308,"featured_media":7485,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"content-type":"","om_disable_all_campaigns":false,"footnotes":"","_jetpack_memberships_contains_paid_content":false},"categories":[1399],"tags":[71,388,396,442,451],"yst_prominent_words":[7726,9129,9121,16114,1716,7568,16113,17114,17116,1895,9130,16112,7567,7552,16110,1878,16111,16115,3605,17113],"acf":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/www.escapeartist.com\/wp-content\/uploads\/2016\/11\/uru.jpg","_links":{"self":[{"href":"https:\/\/www.escapeartist.com\/wp-json\/wp\/v2\/posts\/7351"}],"collection":[{"href":"https:\/\/www.escapeartist.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.escapeartist.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.escapeartist.com\/wp-json\/wp\/v2\/users\/308"}],"replies":[{"embeddable":true,"href":"https:\/\/www.escapeartist.com\/wp-json\/wp\/v2\/comments?post=7351"}],"version-history":[{"count":8,"href":"https:\/\/www.escapeartist.com\/wp-json\/wp\/v2\/posts\/7351\/revisions"}],"predecessor-version":[{"id":40201,"href":"https:\/\/www.escapeartist.com\/wp-json\/wp\/v2\/posts\/7351\/revisions\/40201"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.escapeartist.com\/wp-json\/wp\/v2\/media\/7485"}],"wp:attachment":[{"href":"https:\/\/www.escapeartist.com\/wp-json\/wp\/v2\/media?parent=7351"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.escapeartist.com\/wp-json\/wp\/v2\/categories?post=7351"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.escapeartist.com\/wp-json\/wp\/v2\/tags?post=7351"},{"taxonomy":"yst_prominent_words","embeddable":true,"href":"https:\/\/www.escapeartist.com\/wp-json\/wp\/v2\/yst_prominent_words?post=7351"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}