Company Formation Uruguay
Uruguay is a country that enjoys the right of economic freedom and thus many foreign investors often choose it for setting up businesses. For more information about the company formation procedure in Uruguay, you can contact our team of specialists.
Types of companies in Uruguay
There are several types of legal entities in Uruguay and a foreign entrepreneur should first decide on the best choice for him. It can be a private or a public limited liability company, a general or a limited partnership, or a corporation. However, the private limited liability company is the one that is usually preferred when a foreign investor wants to open a company in Uruguay.
List of requirements for opening a limited liability company in Uruguay
Even though it is not a difficult process, for a company formation in Uruaguay you still need to meet some requirements when opting for the above mentioned business setup:
- minimum one director;
- at least two shareholders (they can be of any nationality and they can be natural or legal persons);
- a share capital of minimum 1$;
- the company is permitted to be 100% foreign-owned.
Our company formation experts can assist you in opening a limited liability company in Uruguay, so feel free to ask for our counsel.
Process of registering a company in Uruguay
1) When wanting to register a company in Uruguay, you should first choose and reserve a name for your company, a step that can be done online. Our team can help you with the procedures of the online portal.
2) Then you have to open a bank account and also deposit the requested capital. You will have to pay a fee and the amount of this commission depends on the bank.
3) Furthermore, the signatures and the operating code regulations need to be notarized.
4) The next step is to register and incorporate the company with an office of Empresa en el Día (an innovating mechanism that makes the registration process easier). Then you also have to submit all documents and pay all registration fees at Empresa en el Dia.
5) Last, you need to pay the required taxes and fees at a payment agency and also publish a notice in the official gazette announcing that you are forming a company in Uruguay.
Having such a developed and stable economy, Uruguay is a suitable place for investing and one of the advantages is that the company registration process is an easy one and it cannot take more than a few weeks to complete. Our company formation team assists foreign investors in making the best business decisions, not only in the procedures for opening a company in Uruguay, but also in many other countries of the world.
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