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29 Nov 2016

URUGUAY AHEAD OF ITS NEIGHBORS

The New York Times – Thomas L. Friedman.

“In outsourcing, Uruguay has leapt ahead of its neighbors by being the first to understand what could be done -that in today’s world having an Indian company led by a Hungarian-Uruguayan servicing American Banks with Montevideo’s Engineers managed by Indian technologists who have learned to eat like Uruguayan’s is just the new normal.”

Thomas L. Friedman. The New York Times.

 

Few Resorts in South America compete in glamour with Punta del Este, Uruguay

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Uruguay is one of the fewest countries in the world that attracts more tourists than its total population.

TOURISM IN URUGUAY

A favorable business climate, with fiscal stimulus for the investor, makes that the tourism represents 7% of the Uruguayan GDP and generates more than 110,000 direct jobs.

The number of foreign tourists exceeded 3 million in 2015, which added to the strong growth of domestic tourism, led to position the sector as one of the main productive activities of the country.

The country offers very attractive natural conditions for various kinds of tourism located a few kilometers away from each other. The traditional tourism of sun and beach and urban tourism are joined by tourism of rural and nature, thermal and relaxing, nautical, destination of congresses and events, social tourism, among others.

Significant advances in infrastructure, connectivity and associated services in recent years generate favorable conditions for tourism and multiply opportunities.

The sector has significant tax benefits, including income tax exemptions, based on regulations for the promotion of the tourism sector and a specific investment promotion for Condo-Hotels.

Why do so many foreigners choose Uruguay as their place of residence?

uruguay-as-their-place-of-residence

  • Investmentgrowth and protection
  • Mild weather sunshine
  • Safe environment
  • Lower cost and better quality of living
  • Smaller communities
  • Stable democratic governments
  • Access to affordable healthcare
  • Coastal proximity to Río de la Plata & Atlantic Ocean
  • Low corruption rate
  • Easy to obtain legal residency
  • Friendly people
  • Security from terrorism, crime, social unrest, and far from racial xenophobia problems

Why invest in Uruguay?

Favorable business climate, great social stability, with fiscal stimulus for the investor.

Consolidated democratic system, maintaining the commitment to respect the rules of the game.

Reliable and attractive destination for foreign investors

The foreign investor enjoys the same incentives as the local investor, there being no discrimination from the tax point of view or restrictions on the transfer of profits abroad.

The foreign exchange market is free, with no limitations on the purchase or sale of foreign currency, and investments can be made in any currency.

The tax system is also neutral with respect to foreign investment and it is not necessary to have registration or prior authorization to make an investment, with the exception of environmental authorization. Likewise, the legislation in force expressly contemplates the existence of banking and tax secrecy.

URUGUAY ECONOMY

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  • The economy is based on agriculture, cattle farming, and mining, as well as the production of hydroelectric energy and the development of tourism.

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  • Uruguay is recognized as a strategic gateway for international companies conducting business in the Latin American region. International companies appreciate the value of its political and social stability. ZONAMERICA in recent years has had an important role in the growth of the economy, reason why many foreign companies have settled in this Free Zone, the best one in Latin America.
  • The geopolitical importance of Uruguay has become a significant factor for companies selecting Uruguay as the regional center for their business operations.
  • Due to its economic, social, and political stability, as well as its democratic tradition, high level of safety, and outstanding natural beauty, Uruguay is a truly unique country in South America.
  • Many foreigners are starting to take advantage of the ease of investment, superior quality of life, perfect weather, and numerous investment opportunities in real estate, farming, and the tourism industry.
  • Infrastructure has been modernized and improved (ports, airports, telecommunications, road networks, etc.), making Uruguay, with its strategic location between Argentina and Brazil, the perfect base for exploring the rest of South America.

Strong political and social stability

For years the country has shown a strong political and social stability, supported by a consolidated democracy and strong legal certainty. Nowadays, the political system has three major parties which have taken turns in office, always keeping a strong respect for the rules of the game and the essentials of economic activity.This is regarded by investors as a distinguishing feature when it comes to choosing Uruguay as a mainstay for trust generation in business environment.

By way of example, Uruguay ranks among the top countries in Latin America (and is well positioned in the world) according to the main rankings prepared by major institutions which gather information on aspects of political stability and democratic soundness. These indicators show that Uruguay is a country with a strong democratic tradition, based on transparent government policy and broad economic freedom.

The Real Estate Market in Punta Del Este

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  • Punta del Este is the most upscale sea resort in Latin America, still with competitive prices among other worldwide resorts.
  • Beach front houses
  • Small farms near the ocean
  • Ocean view condos/apartments
  • Private Golf Communities
  • Polo neighborhoods
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