How to set up a business in Uruguay as a foreigner: step-by-step guide

By Global Tax · October 7, 2026

Playa Mansa promenade in Punta del Este, guide to setting up a business in Uruguay

In short (updated 2026):

  • Foreigners can set up a business in Uruguay without being resident and without prior authorisation, under the same rules as Uruguayans.
  • Most foreign founders choose an SAS (simplified joint-stock company, Law 19.820 of 2019): one shareholder is enough and it is formed by private document.
  • Using the standard bylaws, the Commerce Registry has 5 business days to review the registration, and the online procedure issues the tax (DGI) and social security (BPS) numbers together.
  • After incorporation you must declare the beneficial owner to the Central Bank and open a local bank account.

Contents

  1. Your options
  2. How to set up a company, step by step
  3. Documents for foreign founders
  4. Ready-made companies
  5. Branch of a foreign company
  6. After incorporation: ongoing obligations
  7. Can I do it remotely?
  8. FAQ

Setting up a business in Uruguay is straightforward for foreigners: there are no nationality or residency requirements, and the most popular company type can be formed in days. The part that takes planning is choosing the right structure and getting the paperwork for banks and the tax office right. This guide walks you through company formation in Uruguay step by step. For the wider picture of investing in the country, see investing and doing business in Uruguay.

Related guides

Your options

Option Best for
SAS Most foreign founders: one or more shareholders, flexible bylaws, low cost. See SAS in Uruguay.
SRL Two or more partners in a closely held business. See SRL.
Corporation (SA) Larger projects and many shareholders. See corporation.
Branch A foreign company operating directly in Uruguay.
Ready-made SAS Starting to operate immediately.

For a full comparison, see types of companies in Uruguay.

How to set up a company in Uruguay, step by step

  1. Design the structure: who the shareholders are (individuals or a foreign holding), where profits will be taxed and whether the project qualifies for incentives.
  2. Choose the name and draft the bylaws. Using the standard SAS bylaws speeds up registration.
  3. Sign the bylaws. An SAS is formed by private document with certified signatures.
  4. Register with the National Commerce Registry. With standard bylaws, the Registry has 5 business days to review them.
  5. Obtain tax (RUT) and social security registration with the DGI and BPS. The integrated online procedure delivers both numbers by email.
  6. Declare the beneficial owner to the Central Bank. See beneficial ownership in Uruguay.
  7. Open a bank account and capitalise the company. See open a bank account in Uruguay.
  8. Register employees, if any, with BPS and the insurance bank (BSE).

Documents for foreign founders

  • Passport and proof of address of each shareholder and director.
  • For a corporate shareholder: certificate of incorporation, good standing, bylaws and board resolution, apostilled.
  • Foreign tax identification number (for CRS reporting).
  • Information on the beneficial owners and source of funds for the bank’s KYC. See KYC and corporate compliance.

Documents issued abroad must be apostilled and, unless in Spanish, translated by a sworn translator. See apostille and legalisation.

Ready-made companies

If you need to sign contracts or open an account straight away, you can acquire a company that is already incorporated and registered, then change its shareholders, directors and name. It saves the incorporation time, but the bank still runs full KYC on the new owners.

Branch of a foreign company

A foreign company can operate through a branch registered in Uruguay, filing its incorporation documents and appointing a local representative. The branch has no separate legal personality: the parent is liable for its obligations. It pays IRAE on its Uruguayan-source income like any local company.

After incorporation: ongoing obligations

Obligation What it involves
Tax Monthly VAT and IRAE advance payments, annual returns; 25% IRAE on Uruguayan-source profits. See business taxes.
Social security BPS contributions for employees and, in some cases, directors.
Accounting Books and financial statements according to the company’s size.
Beneficial ownership Update the BCU filing within 45 days of any change (90 if a non-resident is involved).
Corporate housekeeping Shareholder and board minutes, share register.

Can I set up a company in Uruguay remotely?

Largely yes. The online procedure requires a Uruguayan digital identity, so founders without one usually sign the bylaws with certified (and, if abroad, apostilled) signatures or through a power of attorney. Opening the bank account is the step most likely to require an in-person visit, depending on the bank.

FAQ

Can a foreigner open a company in Uruguay?

Yes. There are no nationality or residency requirements, and a foreigner can be the sole shareholder of an SAS.

How long does it take to set up a company in Uruguay?

With standard SAS bylaws, the Commerce Registry has 5 business days to review the registration; bank account opening usually takes longer.

Do I need a local director?

It is not required by law for an SAS, but a local representative makes dealing with the tax office, social security and banks much easier.

Does setting up a company give me residency?

No. Residency is a separate process, although a business can support proof of income. See residency by investment.

Ready to set up your business in Uruguay?

At GlobalTax we design the structure, incorporate and register the company, file its beneficial ownership and help you open the bank account, in English, Spanish or Portuguese. See corporate & cross-border or contact us.

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