Beneficial ownership in Uruguay: BCU register and obligations

By Global Tax · October 7, 2026

Los Dedos monument at Playa Brava, guide to beneficial ownership in Uruguay

In short (updated 2026):

A beneficial owner in Uruguay is the individual who directly or indirectly holds at least 15% of an entity’s capital or votes, or otherwise exercises ultimate control (Law 19.484, Article 22).
Uruguayan companies, trusts and certain foreign entities with a Uruguayan nexus must declare it to the Central Bank (BCU) through an electronic sworn statement.
Changes must be reported within 45 days, or 90 if a non-resident is involved.
Non-compliant entities cannot distribute profits, have their DGI certificate suspended and can be fined by the National Internal Audit Office.

Contents

What a beneficial owner is
Who must declare
Exemptions
Trusts and layered structures
How to file with the BCU
Deadlines
Penalties
FAQ

Since 2017 every Uruguayan company must know and declare who really stands behind it. The Central Bank’s beneficial ownership register is central to Uruguay’s tax transparency and one of the first things a bank or notary will ask for. This guide explains beneficial ownership in Uruguay: who must declare, how, the deadlines and what happens if you don’t. For the wider picture, see financial regulation in Uruguay.

Related guides

What is a beneficial owner?

Under Article 22 of Law 19.484, it is the individual who holds, directly or indirectly, at least 15% of the capital or voting rights of an entity, or who otherwise exercises ultimate control over it. “Indirectly” means through a chain of companies: someone holding 50% of a foreign company that owns 40% of the Uruguayan one has an indirect 20% and is a beneficial owner. A company can never be the beneficial owner.

Who must declare?

Resident entities: corporations (SA), limited companies (SRL), SAS, trusts and other Uruguayan entities, whether or not they are active.
Non-resident entities with a Uruguayan nexus: a permanent establishment, effective management in Uruguay or assets in Uruguay above 2,500,000 UI.
Foreign funds and trusts managed by a Uruguayan resident.

The filing covers both the registered holders and the beneficial owners: name, ID, country of residence, address and percentage held or form of control.

Exemptions

Companies listed on recognised stock exchanges.
Regulated investment funds and trusts, under certain conditions.
Partnerships whose partners are all individuals.
Condominiums and other cases set out in the law.

Trusts and layered structures

For trusts, the law requires identifying the individuals behind the settlor, the trustee and the beneficiary. Where any of them is a company, you must reach the individuals behind it. See trusts in Uruguay. In multi-layer structures the whole chain is traced and indirect holdings added up; if nobody reaches 15%, the person exercising ultimate control is declared.

How to file with the BCU

Gather the ownership information up to the individuals.
Complete the sworn statement on the BCU’s electronic form, signed with an advanced electronic signature (Law 18.600). In practice a notary prepares and files it.
Keep the filing receipt: banks, notaries and the DGI will ask for it.
Update it whenever holders or beneficial owners change.

The register is not public: it is used by the authorities, not third parties.

Deadlines

Situation	Deadline
Change of holders or beneficial owner, all residents	45 days
Change involving a non-resident	90 days

Penalties

No profit distributions until the beneficial owner is identified (Article 33); if paid anyway, the fine can equal the amount distributed.
Suspension of the DGI tax-compliance certificate (Article 34).
Fines of up to 100 times the maximum fine in the Tax Code for failing to file or filing incorrectly, and up to 1,000 times for fraudulent concealment.
Enforcement is by the National Internal Audit Office (AIN) (Article 28).

Dormant companies must file too, and banks and notaries, as obliged entities under the AML law, check their KYC against the filing. See KYC and corporate compliance.

FAQ

What is the beneficial ownership threshold in Uruguay?

15% of capital or votes, direct or indirect, or ultimate control by other means.

Where is the beneficial owner declared?

With the Central Bank of Uruguay, through an electronic sworn statement.

How long do I have to report a change?

45 days, or 90 if a non-resident is involved.

Is Uruguay’s beneficial ownership register public?

No. It is available to the competent authorities.

Is your company’s filing up to date?

At GlobalTax we review the ownership chain, identify the beneficial owner, prepare the BCU filing and keep it updated when shareholders change, in English, Spanish or Portuguese. See compliance and governance or contact us.