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Uruguay ranks second in the region on economic freedom, income equality, per-capita income and inflows of FDI. Uruguay is the third-ranked country in South America in HDI, GDP growth, innovation and infrastructure. Uruguay is an important global exporter of combed wool, rice, soybeans, frozen beef, malt and milk. Uruguay is known for using clean energy and renewable energy with mostly hydroelectric facilities and wind parks. It is also regarded as one of the most liberal nations in the world.
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Cities of Coverage
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Montevideo
Client Industries
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Agriculture
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Financial
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Food & Beverage
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Manufacturing
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Medical
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Technology
Our Solutions
Here’s how we can help.
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Paula Martinez
South Cone Supply Chain & Development LeaderContact Us
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Phone: +56 9 9256 7004
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Immigration Phone: +1 954 526 3354
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Opening Hours
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Monday – Friday
8:30 AM – 5:30 PM
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Hugo Peña
Senior Regional Immigration Manager-
Official Currency: (UYU) Uruguayan Peso
- After a temporary resident visa or permanent resident visa is issued, an assignee must obtain a Uruguayan ID (Cedula de Identidad Uruguaya)
- Driving with a foreign license can be done for 6 months, after 6 months and once a visa and Uruguayan ID are obtained, a local driver’s license is required.
- In order to open a bank account an assignee will need, a Uruguayan ID, employment letter, proof of address, and letter from original bank where assignee currently has funds stating how long the account has been open, three Uruguayan references, and a meeting with the manager of the bank.
- Public schools are not recommended in Uruguay and most assignees choose private schools, however there are limitations in the availability in the private schools.
- The length of a lease in Uruguay is 12 months, negotiable for a longer term.
- Rent payments can be paid in USD; first month’s rent must be paid during lease signing.
- The rental commission is typically 2 months for long-term leases and paid by the tenant and landlord – 1 month paid by tenant and 1 month paid by landlord + VAT.
- For short-term leases, the commission is usually 10% of the length of the contract.
- Most landlord’s will accept the diplomatic clause.
- The assignee usually signs the lease with the company serving as guarantor. If the company does not serve as guarantor, the landlord may ask for several months rent in advance and request assignees the offer letter.
- In gated communities and apartments, tenants need to pay condo expenses (gastos comunes) for common areas.
- For unfurnished homes, property will be delivered without appliances, curtains, and light fixtures (only lightbulbs). Depending on each individual case, installation of some of these items can be negotiated in the lease. A/C units are not usual in Uruguay and not typically negotiated in the rent.
- Types of Lease Guarantees in lieu of company serving asguarantor:
- Bank guarantee issued in favor of the property owner,which is a line of credit,
equivalent to 6 month’s rent and needs to be valid during the entire lease term. Bank guarantees are valid for only one year, so tenant must bear in mind it will need to be renewed as many times as necessary until the entire rental term expires. - Tenant’s company assumes responsibility for any and all damages and repairs to the property. This clause is inserted in the lease agreement and needs to be signed by the company’s legal representatives.
- Deposit equivalent to 5 month’s rent to a State owned bank in the property owner’s name.
- Bank guarantee issued in favor of the property owner,which is a line of credit,
- Utilities are not included in the rent and the assignee is responsible for paying them.
- The areas where affordable, desirable rentals are most likely to be located within Montevideo are Carrasco, Punta Gorda, Pocitos, Pocitos Nuevo/Buceo, Punta Carretas, and Golf.