Immigrating and the income requirement

Starting a business here can be difficult and not necessarily profitable. You need to speak Spanish I would think. I would contact an immigration lawyer here to find out if you need the monthly income that retirees need to show or not.

Here is a little info I found on starting a business here.

All businesses must register with certain government entities:

DGI, or “Dirección General Impositiva”, the tax authority
BPS, or “Banco de Prevision Social”, the social security administration
BSE, or “Banco de Seguros del Estado”, the government insurance agency: for mandatory employee insurance.
MT, or “Ministerio de Trabajo”, the Labor Ministry which issues the Employee Roster that must be kept in the company, with a full list of employees, position, wage, and work schedule


Salaries must be in line with minimum wages and increases of each worker category. There are set wages for each type of job here and numerous paid days, holiday pay etc in addition to the hourly wage.

Workers are granted the right to severance pay of one month’s salary for each year or fraction of a year worked, with a cap of six months.

Maximum work hours: Commercial and services activity: 44 weekly hours, Industrial activity: 48 weekly hours.
All workers must be registered with the BPS


Social Security:
Employer’s contribution for each worker's social security and other work-related taxes are
12.6%   Employee’s social security and other work related taxes: 18.1% plus they also pay personal Income Tax (0-25%)

Corporate Income Tax, or “IRAE” - 25% of net profits

Asset Tax, or “IP” - 1.5% of fiscal value of assets (deductibility of liabilities can effectively reduce the rate to half)

Capital Gains Tax - 25% of net gain on value of assets


IVA, or “Value Added Tax” - the consumer pays 22% for most products; 10% for some, 0% for a short list

Many businesses in my area tend to be seasonal and close from Easter until the beginning of December.

Hi, I am in the process of setting up a business in Uruguay. I manufacture clothing.

Out of curiosity, what kind of business are you thinking of setting up.

I've done/still doing a lot of research about business in Uruguay.

Looks complicated, even pricier than Argentina where we are already set up.

All the best.

Bo

I have experience in many areas and was going to make some final decisions when there, but have discovered it won't be able to happen in Uruguay. At least not now. I have a new plan up my sleeve

The taxes are very discouraging. So, if I invest in and start a business I am basically buying myself a job? I am researching stats. I am looking at commercial and residential alarm company. Where are the crime rates, by type, listed? Where can I find a list of monitoring companies?

The main companies in my area are SEVP Securidad and Segura Observa and Scopice.  They have 24/7 service with monitoring offices and guards who show up very fast when the alarm is tripped.

There are also other companies offering to install cameras or simpler systems that are not centrally monitored.

In Atlantida, many houses have alarms as they are empty for much of the year. Our house came with a system so we had it upgraded a bit and pay $60.00 US per month for the complete monitoring service. After two years we apparently own the equipment but I do not know if the monthly rate goes down then.

In the phone book they are listed under Securidad Electronica.

Thank you.