Facts & Info for Uruguay Limited Liability Company Formation
General information
Company structure
- Minimum two shareholders* (no restrictions on the nationality)
- One director* (no restrictions on the nationality and residency, corporate directors are allowed)
*Both can be the same person.
Taxation
- Uruguay does not have a tax on global income. Only income earned within its borders are taxed. Therefore, LLC not engaging in business inside Uruguay will be regarded as a tax exempt company. However, even if no taxes are due, an LLC is still required to file an annual tax return.
Other benefits
- Business-friendly environment
- Free inflow and outflow of capital and repatriation of profits
- Free exchange and use of foreign currency
- Open financial system, with no capital controls
-
100% foreign ownership
Registered Agent
Required
Registered office
Required
Secretary
Not Required
Company name
- Every LLC must include the words “Sociedad Anónima Uruguay” or its abbreviation “SAU” at the end of their company name.
- The LLC must select a unique name not resembling any other Uruguay legal entity name. Names can be reserved before registration.
Incorporation
- Collection of necessary information for company registration
- Preparing foundation documents for company registration
- Notarization of all founding documents for banks, the internal revenue office, etc.
- Payment of state fees for company formation
- Request a tax identification number from the tax office/authorities
- Company registration in the Register of Enterprises
- Publishing a notice in the Official Gazette announcing the formation of a new company
Please provide us with the following documents and data:
Incorporation
- A notarized copy of valid passport (of each Shareholder, Director, Beneficial Owner, Authorized Signatory)
- Name of company
- Data on the establisher of the company (in the case of the establisher being the legal person (company) - extract from Center of Registers on the company)
- A copy of proof of residential address (ex. utility bill of each Shareholder, Director, Beneficial Owner, Authorized Signatory that is not older than 3 months) in English
- Optional: A notarized copy of Bank reference (of each Shareholder, Director, Beneficial Owner, Authorized Signatory)
- Optional: CV (of each Director and Shareholder)
N.B.
- If Shareholders and/or directors are legal persons, then it is required to submit full set of apostilled company documents and valid certificate of Good Standing.
-
If documents are not in English, the certified translation of it must be provided.