In short (updated 2026):
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Uruguay has an open financial system, with free movement of capital and no exchange controls, but strict transparency rules: opening an account, setting up a company, providing financial services or buying property all come with identification, beneficial ownership and anti-money laundering requirements. This guide maps financial regulation in Uruguay: who regulates, what each law says and what you need to comply with depending on your activity.
Guides on financial regulation
| Authority | Role |
|---|---|
| BCU – Financial Services Superintendency (SSF) | Licenses, regulates and supervises banks, exchange houses, financial services companies, the securities market, insurers, professional trustees, investment advisers and VASPs. |
| UIAF (within the BCU) | Uruguay’s financial intelligence unit: receives suspicious transaction reports and supervises financial entities on AML. |
| SENACLAFT | The national anti-money laundering secretariat: coordinates national policy and supervises non-financial obliged entities (real estate agents, notaries, casinos and others). |
| DGI | The tax authority: receives CRS information and exchanges it with other countries. |
| Topic | Law | Who it affects |
|---|---|---|
| Anti-money laundering | Law 19.574 (2017) | Financial entities and non-financial obliged entities |
| Beneficial ownership | Law 19.484 (2017) | Companies, trusts and other entities |
| Information exchange (CRS) | Law 19.484 (2017) | Banks and financial entities; non-resident account holders |
| Securities market | Law 18.627 (2009) | Issuers, brokers, advisers and portfolio managers |
| Trusts | Law 17.703 (2003) | Trustees and trusts |
| Virtual assets | Law 20.345 and BCU Circular 2507 (2026) | Exchanges, custodians and other VASPs |
Law 19.574 punishes money laundering with 2 to 15 years in prison for converting or transferring criminal proceeds. Predicate offences include drug trafficking, corruption, smuggling and tax fraud where the tax evaded exceeds 400,000 UI in a fiscal year (or with no threshold if false invoices or documents are used).
The law sets two groups of obliged entities:
Anyone entering or leaving Uruguay with more than US$10,000 in cash or bearer instruments must declare it. See Uruguay’s anti-money laundering law for the details.
Every obliged entity must apply customer due diligence: identify customers and verify their identity from independent sources, identify the beneficial owner, understand the purpose of the relationship and monitor it. Simplified measures are allowed for low-risk customers, while enhanced due diligence is required for politically exposed persons (PEPs) and high-risk jurisdictions. Unusual or suspicious transactions are reported to the UIAF without tipping off the customer.
That is why a Uruguayan bank will ask for source-of-funds documents before opening an account or accepting a large transfer. See KYC and corporate compliance in Uruguay and our compliance and governance service.
Under Law 19.484, the beneficial owner is the individual who directly or indirectly holds at least 15% of an entity’s capital or votes, or otherwise exercises ultimate control. Uruguayan companies, trusts and certain foreign entities with a Uruguayan nexus must declare it to the BCU and report changes within 45 days (90 if a non-resident is involved). Non-compliant entities cannot distribute profits, have their DGI tax-compliance certificate suspended and can be fined. See beneficial ownership in Uruguay.
Law 20.345 recognised virtual assets and placed their providers under the BCU. Circular 2507, issued in July 2026, brought virtual asset service providers (VASPs) into the securities market rules: anyone who habitually and professionally exchanges, transfers, holds or manages crypto-assets needs prior BCU authorisation, with capital, governance, cybersecurity, client-asset segregation and AML requirements. VASPs already operating may apply between 1 September 2026 and 31 March 2027 and keep operating while their application is processed. See VASPs in Uruguay.
| Activity | Requirement |
|---|---|
| Bank | Prior authorisation from the Executive and the BCU |
| Exchange house, financial services company | BCU authorisation |
| Investment adviser, portfolio manager | Authorisation and registration in the Securities Market Register. See investment adviser licence. |
| Investment fund manager | BCU authorisation |
| Professional trustee (5 or more trusts a year) | Registration with the BCU. See fiduciary services. |
| Financial trustee | BCU authorisation. See financial trust. |
| Representative office of a foreign financial institution | BCU authorisation |
| Virtual asset service provider | BCU authorisation (Circular 2507) |
A family office that only manages its own family’s wealth generally does not need a licence; it does if it advises on or manages third parties’ investments. For the wider picture, see Uruguay’s financial system.
The Central Bank of Uruguay, through its Financial Services Superintendency. On money laundering, the UIAF (within the BCU) and SENACLAFT are also involved.
Law 19.574 of 2017, which sets obliged entities, due diligence, suspicious transaction reporting and penalties. See our AML law guide.
The individual holding at least 15% of an entity’s capital or votes, or otherwise controlling it. It is declared to the BCU.
Yes, if you are tax resident in a CRS country: the bank reports to the DGI, which exchanges the information automatically.
Yes, if they professionally provide exchange, custody or transfer of virtual assets: since BCU Circular 2507 they need prior authorisation.
At GlobalTax we help you work out whether your activity needs a BCU licence, prepare the application and build your AML manual, beneficial ownership filing and CRS processes, in English, Spanish or Portuguese. See our financial licences and regulation service or contact us.
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