Uruguay Free Zone License
The Uruguay free trade zone company is generally an LLC or a PLC incorporated within an Uruguay Free Trade Zone. Such type of business entity requires at least 2 shareholders and 1 director to be incorporated. The director and shareholders can either be individuals or a body corporate and need not be resident in Uruguay;
A free trade zone company is subject to statutory audit if it has total assets exceeding US$585,000 or an annual turnover exceeding US$2 million. It must also appoint a registered agent who can either be an individual or a legal entity and must be resident in Uruguay. This entity is exempt from all national taxes in Uruguay, except in some cases from withholding tax on dividends repatriated abroad.
Features of an Uruguay SAZF
|
Uruguay SAZF |
Corporate Details |
|
General |
|
|
SAZF |
|
Yes |
|
Yes |
|
2 Months |
|
No |
|
Yes |
|
Share capital or equivalent |
|
|
US$1 |
|
EUR, USD, GBP |
|
US$1 |
|
No |
|
No |
|
Directors |
|
|
One |
|
No |
|
Yes |
|
Anywhere |
|
Yes |
|
Shareholders |
|
|
Two |
|
Yes |
|
Yes |
|
Anywhere |
|
Company Secretary |
|
|
No |
|
No |
|
Accounts |
|
|
Yes |
|
Yes |
|
Yes |
|
Yes |
|
Other |
|
|
Yes |
|
Yes |
Advantages of Uruguay Free Trade Zone Company
- Exemption from corporate income tax on sales of goods and services produced within the free zone.
- Exemption from customs duties on imported equipment and raw materials and
- Simplified customs procedures. Withholding tax, however, applies to dividends if the corresponding income has been sourced from Uruguay.
The Valsen Advantage
- Speedy, Efficient and consistent Services.
- Relentless effort to obtain bank accounts.
- Expert advice on structuring options.
- Dedicated ongoing compliance support.