New member firm, BKZR, leads the way publishing Business Guide for Uruguay
Having joined MGI Worldwide earlier this year, NEW firm Bado, Kuster, Zerbino & Rachetti (BKZR), based in Montevideo, was keen to get involved and begin contributing to the global network. With this in mind BKZR has just published an all NEW Guide to Doing Business in Uruguay.
An introduction to Uruguay
Uruguay is a country with a population of 3.5 million and a Gross Domestic Product of approximately USD60 billion, experiencing sustained growth over the past 20 years.
It is recognised for having one of the lowest corruption indices, with one of the most stable democratic governance systems in Latin America and the world, making it a highly attractive and reliable destination for foreign investment, particularly due to its legal security.
Equal treatment for foreign investors
Uruguay does not discriminate between national and foreign investors, which means that both individuals and foreign corporate entities can establish themselves in Uruguay without having to meet prior requirements, obtain special permits from the state, or partner with a local counterpart for their investments.
Similarly, both local and international investors qualify for benefits and incentives for promoting investments.
The financial market is also open and free for local or foreign investors, with no exchange control regime or similar restrictions, allowing the free entry and exit of currencies. There are no restrictions on the inflow or outflow of capital, transfer of profits, dividends, or interest, subject to the legitimate source control of funds conducted by financial intermediaries and other entities required to comply with anti-money laundering and counter-terrorism financing regulations.
Uruguay's national tax system is unique and is based on the source principle, meaning that, in general terms and only with some exceptions, foreign-source income and assets located abroad are not taxed.
Doing Business in Uruguay
Click the link to open or download the Doing Business Guide PDF
Access detailed information about the Uruguayan business environment and how BKZR can assist you should you have clients with business interests in the country.
About the firm
Bado, Kuster, Zerbino & Rachetti (BKZR), boasts more than 80 years of experience in the market, offering comprehensive services to its clients, with professionals specialised in different practice areas (lawyers, accountants and notaries).
As a firm, it is committed to understanding its clients and their business in a comprehensive manner, being proactive in the search for solutions and opportunities.
Its mission and goal is to provide its clients with personalized, efficient and innovative services. The firm’s dynamic structure ensures that clients receive professional assistance of the highest quality.
To find out more, or just to introduce yourself, contact Partner and MGI Key Contact, Agustín Rachetti. Contacts can be found on the firm profile page or website.
To see all our latest Business Guides visit the global news room HERE or log in to the member portal and visit the Resources page.
MGI Worldwide is a top 20 ranked global accounting network and association with over 8,000 professionals, accountants and tax experts in some 400 locations in almost 100 countries around the world.