Uruguay: how to obtain golden visa residency by investment program and enjoy the tax benefits

How to obtain tax residency in Uruguay?

In this last time, we have found a notorious amount of cases of Argentines trying to obtain residence in Uruguay and of Argentine companies that settle their operations in the neighboring country- high net worth

The answer to why they do it is very simple: taxes. 

In Argentina, companies pay, mainly, the following taxes: (i) Income Tax (35% – if they distribute dividends -); (ii) Gross Income (average rate of 3%); (iii) Safety and Hygiene (average rate of 1%); (iv) Check Tax (of 1.2% – Micro and Small Companies do not pay it); and (v) Social Security (which can reach around 40% between Contributions and Contributions).

In addition, there are a number and diversity of regimes (information, retention, perception, etc.); added to that there are countless jurisdictions with their own norms and different from each other (the Nation, the 24 provinces, all the municipalities), that it becomes really impossible to comply with everything. 

In the neighboring country, on the contrary, everything seems to be much simpler and less expensive. 

The first thing worth highlighting, responds to the “Ficta Liquidation Regime” (“IRAE”) for companies based in Uruguay that have up to the US $ 500,000 of annual sales. 

This tax would be equivalent to the Income Tax in our country and really what draws attention to these Uruguayan SMEs pay tax.

For example, when companies combine capital and labor income, they pay the following aliquots, according to the level of income (in dollars) they have: 

As we can see, in the case of companies that bill up to US $ 250,000 (which pay 3.30% of Income Tax in Uruguay), if they were based in Argentina, only considering the Tax on the Gross Income (average rate of 3%), we would practically equal what is paid in the neighboring country. 

The second big issue, responds to which income (in the income tax) and what goods (in the tax on equity) are reached by Uruguay and Argentina.

While in Argentina the residents of our country pay taxes for all the goods and all the rents they obtain, regardless of where they obtain them or where they are located (that is, both in the country and abroad), in Uruguay they are only taxed the Uruguayan income and assets. 

For example, if a company based in Uruguay obtains an income for a service provided in Argentina, it does not pay taxes in the neighboring country. 

On the other hand, if a company based in Argentina obtains an income for a service provided in Uruguay, it does pay taxes in our country. 

The same happens if an Uruguayan has assets (real estate, cars, bank accounts, etc.) in Argentina: he does not pay taxes in Uruguay.

On the other hand, as all Argentines who have laundering properties in Punta del Este know, all those goods do pay Personal Property Tax in the country. 

Finally, regarding Consumption Taxes, in addition to VAT, in Uruguay there is the “Internal Specific Tax”, which is levied in only one stage of the commercial chain (the first), unlike Gross Revenue in our country, that is taxed at all stages (industrial, wholesale trade, distribution, retail), significantly increasing the cost of goods and services. 

Choosing Travel Israel Tour: Review and Advice

It seems that there is no person in the world who never had travel Israel ideas. Because travel Israel tours include not only first-class resorts, but also traveling around the holy places. And mainly due to this fact more and more people are eager to visit this exotic country which harmoniously combines the modern civilization with historical monuments. Cheap travel Israel agencies offer us lots of tours for really affordable prices in spite of the information that this country tends to be very expensive for tourists. Many travel agencies suggest you a wide range of activities in Israel, they can vary from the simple pastime somewhere on the beach of Red Sea or Dead Sea to exciting excursions to national parks and historical places. Israel is a unique country, it has extremely long and amazing history, it is a country where old traditions get along together with new, where there is a great mix of cultures and nationalities.

At lots of travel sites one can observe thousands of pictures of this wonderful country. The photos of churches and castles amaze us with the domes shining in the sun, with their architecture and wonderful monumental design. Certainly the price of a tour and travel insurance will depend only on what type of the rest you’d like to have there, because as we have already said the variety of activities is enormously large. There are pilgrimage tours, just excursion tours and even health-improving tours to Israel. Concerning air travel Israel tickets, they do vary according to the season, but if you buy a tour, they will cost really less, so let your travel agency take care about all this. Plan to travel alone? Well, there are really lots of countries where people can come just to get a tan, this country requires more careful attention. But in case you travel alone and don’t know neither language nor the geography of the country, you’ll become bored very soon, because simply won’t able to learn the entire heritage which this country contains. By the way the so-called combined tours are also possible. That means that a traveler will be able to get a good treatment along with visiting some famous places, churches and monuments.

In the big cities it is also possible to visit different sport and entertainment centers. For those who adore simply sun, sea and beaches, there are such activities as diving and surfing. In case you decide to take children with you, they definitely won’t be bored: aquaparks and dolphinariums are all in their disposal. Thus, there are huge variety of interesting places all over the world, and unfortunately one cannot visit them all – the planet is so unique but the human life so much short. But there are places which everybody must visit during his life. One of them is Israel. A country where history and novelty are getting along together and perfectly harmonize, a country where one can cure not only his body, but also the spirit.