Uruguay is the geographical centre of South America, with the highest income per capita of the continent and a GDP of approximately $600bn. Its privileged and strategic position in the Southern Cone of the Americas substantially favours its regional integration policy as a gateway to the MERCOSUR countries.
Uruguay has an extensive and diverse network of physical communications (such as couriers, mail, print publications, etc.), which together with the competitiveness of its financial services, its business-supporting infrastructure, makes for easy access to the main centre of business in the southern block, as well as its projection towards other regions and countries in the world.
In order to boost investment and international commercialisation, Uruguay has many free zones located at strategic points. These zones count on vast and modern resources and high technology, and are aimed at high-value sectors. Private zones are managed by individuals authorised by the administration. Through the General Trade Bureau – Free Trade Zone Area, the Uruguayan administration manages the state free zone and monitors and controls all the systems.
Uruguay has a beneficial and modern Investment Promotion and Free Trade Zone Act applicable for both national and foreign investors. Because of this and many other benefits, important multinational companies of different sectors such as tourism, automotive, pharmaceutical, alternative energy, alimentary and real estate have settled in the country during the last couple of years.
Join our next webinar to know more
Companies should consider certain aspects before settling down in a new country in order to ensure the compliance of local rules and to avoid any damage that may arise in relation to its reputation in the country, as well as any fiscal sanctions, loss of business opportunities or legal actions.
Next Thursday, 27 August, experts from TMF Group and the Chamber of Free Trade Zone in Uruguay (CZFUY) will get together in a webinar to share information on business opportunities in the free areas of Uruguay and on how TMF group and the CZFUY can help you to take advantage of those opportunities.
Join Monica Alonso, Accounting Manager in TMF group Uruguay and Lydia Cazaban, Institutional Relations Coordinator of the Chamber of Free Trade Zone in Uruguay. The webinar will take place on 27 August at 11 am CDT / 12 pm EST / 5 pm BST. Please note this webinar will take place in Spanish.
You can register at tmf-group.com/webinaruruguay.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.