Uruguay: how to obtain a golden visa

Uruguay Golden Visa Residency by Investment Program

A small country of three and a half million inhabitants, nestled between big Argentina and Brazil, get along better than them. In Uruguay, the times of the tremendous crisis of the beginning of the millennium are finally far away. In 2002, after Argentina’s default, Uruguay also stumbled awfully. The country was in fact bound to the banking system of Buenos Aires and was saved only thanks to an intervention by the World Bank. Until then, Uruguay had always lived in the shadow of its neighbors, carving out its reputation as a money laundering country. In the Uruguayan banks, dirty money was being poured in to clean up. In 2004 the turning point. For the first time, the Front Amplio, a progressive leftist group, came to power with President Tabare Vasquez, who is still leading the country after the interrogation of the famous Jose “Pepe” Mujica, the former guerrilla named “poor president” for his more than a sober lifestyle. From 2005 onwards the economy is growing and Uruguay has been transformed. Once the money laundering time has passed, banks have adopted stringent capital control systems. The time of dependence on the Argentine economy has ended. Uruguay has decided to project itself into the future, focusing on innovation and technology, as well as creating a state-of-the-art school system from a digital point of view. In fact, every child has access to a computer at school desks. The economic and political stability, as well as the high standards of safety and quality of life compared to neighboring countries, have made Uruguay golden visa one of the most affordable country for residency by investment program. The government strongly promotes technological progress. Among the various initiatives that help startups and young innovators, in addition to a favorable tax regime and a reasonable number of incentives, there is, for example, the free offer of free broadband through the state-owned Antel company.

The startups enjoy a particularly favorable situation, given that the government provides exemptions for companies that export their services. This is why the Uruguayan tech sector has become the main exporter in the region, beating the two Argentinian and Brazilian giants. According to the ICT Development Index (Information, Communication, and Technology) of the International Telecommunication Union, Uruguay is the leading country in the technological field of South America. An important hub that is giving life to important realities such as Ironhide Game Studio, Loog Guitars, PedidosYa, and many others. But above all, it has allowed Uruguay to reach full autonomy from its neighbors and achieve a 2.7 percent growth in GDP in 2017. Important numbers that should be reconfirmed also in 2018.

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