The Uruguayan government is seeking to encourage fiscal residents of other countries to move to Uruguay. With this aim, the President has issued a Decree and sent a bill to Parliament. Some of the upcoming changes are as follows:
- Reducing from 183 to 60 the days in the year required for interested parties to be in Uruguay.
- Substantially decreasing the minimum investment required in some cases to obtain the fiscal residence.
- Extending the “fiscal vacation” from 5 to 10 years.
The Uruguayan Congress has just approved the extension of the so-called “fiscal vacation” from 5 to 10 years; although finally, this benefit applies only to those people who acquire tax residence in Uruguay as of 2020 and not to those who have obtained the exercise in the past, as the Executive Power wanted.
With these changes, Uruguay is hoping many foreigners will move in their assets and companies. In connection with this, let’s review this article in which Martín Litwak, our CEO, speaks about the upcoming changes.
If you have any questions about the possibilities and benefits of acquiring the legal or fiscal Uruguayan residence, do not hesitate to contact our team.