27 Nov Uruguay Business Formation Montevideo Company Incorporation Services Montevideo Uruguay Cost-Price: Starting at Low Fees
Uruguay Business Formation Montevideo Company Incorporation Services Montevideo Uruguay
Offshore Company Formation in Uruguay
Business Formation in Montevideo, Uruguay
Company Incorporation Services in Montevideo, Uruguay
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To begin with, the information below displays the requirements to register a Uruguayan offshore company (Uruguay Corporation). Additionally, we provide details on the maintenance, shareholder requirements, and the minimum capital requirements for Uruguay company formation. Also, we can assist with the legal form, naming requirements, documentation required and director and secretary requirements.
Moreover, this guide will help you with your Uruguay company registration. However, this may be subject to the most recent changes in the legislation in various jurisdictions. Thus, we invite you to Contact Us for the latest update and free quotation.
Uruguay Company – Uruguay Corporation
Types of Companies in Uruguay
Corporation (Sociedad Anónima), Branch Office of Foreign Company, Offshore Corporation (Holdings), Limited Liability Company (Sociedad de Responsabilidad Limitada) and Free zones Corporations. The most frequently used type of company by international investors in Uruguay is a Corporation (Sociedad Anónima).
A Corporation is considered to conduct offshore activities when the Company develops all of its economic activities outside Uruguay, nevertheless, it can be managed and domiciled in Uruguay. The purpose of this type of company is very broad and must be orientated towards economic activities outside Uruguay.
Name of the company:
The name can be in any language that uses the Latin alphabet, but the Registrar may request a Spanish translation. The name must contain the words ‘Sociedad Anonyma’, or ‘SA” to denote limited liability and type of the company.
There are certain names containing the following words require consent or a license. For example:
Bank, Buildings Society, Savings, Loans, Trust, Insurance, Assurance, Re-Insurance, Fund Management, Investment Fund, Fiduciary, Broker or their foreign language equivalents. The following names cannot be approved: a name that is similar or identical to an existing company, a name that is known to exist elsewhere, a name that in the opinion of the Registrar is undesirable or offensive, a name that implies illegal activities or implies Government patronage.
In fact, any person or company, of any nationality, may acquire or incorporate an Uruguayan SA. Also, one needs to pick a company name and decide who the director will be, and a company is activated instantly.
For example, there are two ways to own a SA. Most importantly, by incorporating a new one, or by acquiring a “dormant” one that has already been incorporated. The latter is the most common method. In particular, SAs that are pre-incorporated have by-laws with a broad spectrum of permitted activities that allow practically any kind of profit or non-profit activity.
Namely, Investment vehicle, Holding company, Asset-protection vehicle, Lender, Trading company, SPV to securitize assets abroad, Owner/holder of patents and copyrights, Vehicle to provide professional or advisory services
Indeed, an Uruguayan company does not require more than one shareholder, who may be an individual or corporate body. In other words, the details of company beneficial owners and shareholders are not part of the public records. Shareholders may be non-Uruguayan. On the other hand, the presence of shareholders is not required in Uruguay. Last, shareholders may be foreign citizens or entities.
The share capital:
Shares may be bearer shares or nominative shares. One shareholder may own 100% of the shares. Bearer shares are transmitted by simple delivery. No minimum capital required; no maximum capital limit. Shareholder’s liability is limited to the paid-in capital.
Directors of the company:
It may have one or more members. Actually, they may be foreign citizens, even entities. Nonetheless, they do not have to be shareholders. The BOD is the executive body and may have unlimited or limited powers. It must meet once a year, locally or abroad, and it may do so by proxies.
Registered office and local agent: Uruguay companies must maintain a registered office and registered agent within Uruguay. A registered agent may be a corporate body or an individual resident in Uruguay.
No taxes on foreign assets or income. No taxes on the distribution of dividends. The only tax due is an annual flat tax (“ICOSA”): USD 420.
Audit and financial returns:
Keep accounting books (which don’t require periodic recording or filing anywhere). Prepare financial statements once a year. The physical presence in Uruguay of the corporation’s owners (shareholders) is not necessary for any of these activities.
Shareholder’s Meeting: It appoints the Board of Directors and approves the financial statements and the distribution of dividends. It must meet once a year. Thus, it may do so by proxies.
In general, the incorporation takes up to 6 weeks, but we need up to 10 working days for the legalization of the documents and delivery by courier. Nevertheless, to shorten the time for incorporation shelf companies are available.
Indeed, our fees and prices for the formation/purchase of a company in Uruguay include the name check and approval. Also, filing incorporation documents with the Registrar of companies. In addition, we provide one set of standard corporate documents.
In particular, we handle the payment of the annual flat tax. Above all, we carry out the mandatory registration of directors with the public registry. Also, we can provide a registered office and address for one year.
Optional services (upon client’s discretion)
– Provision of nominee shareholder and nominee director
– General Power of Attorney issued by the nominee director
– Notarial certification and Legalization
– Opening a corporate bank account
– Bank card application
– Certificate of Good Standing
– Mail collection, mail forwarding
– Provision of postal address
Recurring maintenance fees from 2nd year and after
– Provision of registered office, agent, basic bookkeeping and tax payments
– Annual flat tax (ICOSA)