Uruguay Geography, Politics, Economy, and Culture

Home to three and a half million people, Uruguay is one of the smallest nations in South America, bordering Argentina and Brazil. Its capital, Montevideo, houses about a third of the total population and was founded by the Spanish as a military stronghold in the 18th century.

Uruguay is a relatively stable and progressive country in the region, ranking high on indexes for democracy and low corruption. It is regarded as a high-income country by the United Nations and is one of the regional leaders in the use of renewable energy. It is also considered a socially advanced country with its tolerance of personal rights, as well as cannabis use.

Its climate is fairly mild and uniform and its export-oriented agricultural sector contribute almost 10% towards GDP, employing 13% of the workforce. Tourism is also a significant part of Uruguay’s economy with one of its main cultural attractions being the Punta del Este, with beaches situated on a small peninsula off its southeastern coast.

Its people are primarily of European origin, Spanish speaking, with the majority of the population considering themselves as Catholics.

2021
May 1Labor Day / May Day
July 18Constitution Day
August 25Independence Day
December 25Christmas Day
  • S.A. (Sociedad Anónima)
  • S.A.S. (Sociedad por Acciones Simplificada)
  • S.R.L. (Sociedad de Responsabilidad Limitada)
  • S.C.I. (Sociedad de Capital e Industria)
  • S.C. (Sociedad Colectiva)
  • Corporate Tax: 25%
  • Income Tax (Lowest Marginal Rate): 0%
  • Income Tax (Highest Marginal Rate): 30%
  • VAT/GST/Sales Tax: 22% (standard rate), 11% (lowest rate), 0% (extent)
  • ABN-AMRO Uruguay (Commercial Bank)
  • Banco COFAC (Commercial Bank)
  • Banco Comercial (Commercial Bank)
  • Banco de Crédito (Commercial Bank)
  • Banco Hipotecario del Uruguay (Commercial Bank)
  • Banco Montevideo (Commercial Bank)
  • Banco Real del Uruguay (Commercial Bank)
  • Banco Santander Uruguay (Commercial Bank)
  • Discount Bank Latin America (Uruguay) (Commercial Bank)
  • Banco de la República Oriental del Uruguay (State Bank)
  • Banco Hipotecario del Uruguay (State Bank)
  • Banco Central del Uruguay (State Bank)
  • Banco Bandes Uruguay S.A. (Private Bank)
  • Banco Itaú Uruguay S.A. (Private Bank)
  • Scotiabank Uruguay S.A. (ex. Nuevo Banco Comercial S.A.) (Private Bank)
  • Discount Bank (Latin America) S.A. (Private Bank)
  • Banco Santander S.A. (Private Bank)
  • Banco Bilbao Vizcaya Argentaria Uruguay S.A. (Private Bank)
  • HSBC Bank (Uruguay) S.A. (Private Bank)
  • Banco Surinvest S.A. (Private Bank)
  • Citibank N.A. Sucursal Uruguay (Private Bank)
  • Lloyds TSB Bank plc (Private Bank)
  • Banco de la Nación Argentina (Private Bank)

Aadmi can support you with your expansion to Uruguay. Our team of experts in country manage every aspect of your expansion from incorporation, accounting, legal, and even administrative concerns.  Matched with Global People Strategist’s powerful labor compliance software, your company is in good hands.

Contact us today for more information about how your company can benefit from using Aadmi as your global expansion partner.

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