Uruguay is a country that has a great democratic and republican tradition. It has approximately 3,300,000 inhabitants, 100% of who are of European origin, with a literacy index of 98%.

The country has an efficient and completely digital Communications system, with advanced connections, good ports, an agile and efficient system of agricultural produce and cattle-raising and a wide experience in the rendering of services.

The following areas and percentages form the basis of the country's Gross Domestic Product:

   Fisheries, Cattle-raising and Agricultural Produce
   Financial Services, Insurance
   Real Estate developments both in urban and rural areas, construction
   Port services
   Tourism
   Manufacturing Industry
   Transport and Communication

Uruguay has an open economy, it has an old tradition as a free market without any restrictions whatsoever on the exchange with other countries of capital, foreign currency, dividends and precious metals, foreign public or private securities, commodities, etc.. The market being highly developed and operating with any type of currency, mainly US dollars, Euros, other European and Latin American currencies.

Besides, Uruguay has a Bank Secrecy Law passed by Parliament in 1982, and it is considered to be a strategic financial center in South America, which is why many of the most important Banks in the World have had branches here for many years.

The Government recognizes that foreign investment plays an important role in the development of the economy.



The investor does not need a special permit to begin importing or exporting, to obtain loans or to take part in the foreign exchange market, the system being completely open as it does not discriminate legally or fiscally against foreign investors in favor of Uruguayan ones. The current incentives, geared towards the creation of sources of labor, the introduction of high-technology industries and the increase in exports, apply to both local and foreign investors. There are no limitations on the transfer of profits or foreign remittances, operations which do not require official authorization.
Within a free and open economy frame, in Uruguay there are no restrictions on imports and exports, except for the case of the importing of some goods that are subject to the compliance with safety and security, phytosanitary and other controls, which do not differ from those the foreign company must observe in its own country.

It is important to point out regarding the Duty Free Zones that they should be dealt with specifically: the Uruguayan system of Free Port. By this system there is free circulation of goods in the Montevideo Port, without any need for authorizations or formal proceedings.
For as long as the goods remain inside the customs area, they are exempt from any and all duties and charges applicable to imports or that may arise thereof.

Within the corresponding port sectors, the destination of the goods can be freely changed. The following activities are allowed provided that they do not alter the nature of the goods: storage, re-packaging, classification, grouping and separation, consolidation and fractioning. It is also stated that there are no restrictions on either the period of storage of goods in the Port or the volume of the stored goods.