Seeking to attract immigrants with high purchasing-power, Uruguay has relaxed its fiscal residence requirements – triggering a rush of consultations from Argentines.
Those interested in moving across the Rio de la Plata say they’re not only in tax benefits. Political stability, legal security and even a different approach to controlling the coronavirus pandemic seems an attractive proposition.
In January, two months before taking office, President Luis Lacalle Pou announced his intention to ease the conditions whereby foreigners with substantial assets may settle in Uruguay and set up companies. That idea has just recently materialized in the form of a decree adding two new clauses to the rules for obtaining fiscal residence which ease the tax burden and the necessary paperwork for legal residence or immigration.
As a consequence, the consultations from neighbouring Argentina have grown exponentially, law offices specialising in tax expertise confirmed to AFP. [fuente]