On 11.06.20 last Decree No. 163/2020 was issued, which relaxes the requirements demanded in order to obtain fiscal residence in our country.
1. Situation and conditions precedent to Decree 163/2020
Among the basic requirements to be able to process the residence we had
1.1 Stay in the country a minimum of 183 days a year, with eventual departures or absences of less than 30 days.
1.2 Economic interests in the national territory
1.3 Possession of assets for more than UI 15,000,000
1.4 Family and affective interests as residence of spouses, children, etc.
1.5 Investments in companies with projects of more than UI 45,000,000
2. Situation and conditions from the new Decree
2.1 Investments in assets by UI 3,500,000
2.2 Permanence for a minimum of 60 days during the year
2.3 Investment in companies with a value of more than 15,000,000 UI and that generate at least 15 new direct jobs.
The Executive Branch, through this flexibility mechanism, encourages the possibility of increasing foreign investment in Uruguay, tending to increase jobs.
It is necessary to point out that each foreigner must study their particular conditions, as well as their fiscal conditions in their country. The tax benefits that you can obtain will depend on the extremes that are met and the legislation of the country where you are based.
We are at your service to evacuate any queries to those interested in the subject through our emails.