When looking for a jurisdiction in which to incorporate, the first thing to look at is the legal code. The body of law in Uruguay is civil law law. You will want to get some local advice as to how to best structure a company in Uruguay. One is permitted to electronically sign documents.
The abbreviation UY is for Uruguay and the most common company type in Uruguay is a LLC (SRL).
The time to setup is usually 10 Days to put together the paperwork and file a LLC (SRL) in UY. The minimal capitalization, or amount you're expected to put into a bank, is 0, This means you don't have any minimum share capital. The types of currencies you can use to setup your legal entity is often any legal currency.
Yes, one is allowed to re-domicile a LLC (SRL) from UY. You are usually allowed to change the jurisdiction of the company, pending certain procedures.
There must be at least 1 shareholder. This makes it possible for you to own a LLC (SRL) in UY by yourself. Corporate Shareholders are encouraged, which means you can have a corporate shareholder. Foreign ownership is encouraged, up to 100% of the ownership of the LLC (SRL).
A LLC (SRL) is only required to have 1 director on the board. Furthermore, corporate directors are permitted. Directors are disclosed publicly. There is a body of law which requires companies to hold an annual meetings of shareholders.
A registered office is a requirement, whom the company will pay yearly, for an office which can receive litigation or other legal process on behalf of the registered legal entity. Moreover, a corporate secretary is a requirement.
There is a requirement to file accounts to relevant authorities. However, there is no requirement that these accounts be audited, at least for privately held companies.
Thin capitalization rules are not in effect.
A corporate director is permitted, meaning this country is a good option if you are setting up a structure where you want to protect director liability.
The directors are disclosed in the public registry of Uruguay, General Directorate of Registries. Shareholders are not disclosed in the General Directorate of Registries.
Typically companies take 10 days to setup and there are 1 director(s) required and 1 shareholder(s) required at the time of incorporation.
Overall we think Uruguay is a good option and have given it a score of 80 as an IO score, using the Incorporations.IO proprietary formula.
10 Daysto form