How to obtain residency in Uruguay

[@TheWanderingInvestor]

🇺🇾 Contact my immigration lawyer Macarena for more details on obtaining residency in Uruguay + prices: thewanderinginvestor.com/services/residency-and-citizenship-by-investment/how-to-obtain-residency-in-uruguay/

[@neutral0]

Uruguayan passport lists the nationality of naturalized citizens as their country of origin, which invalidates some of the travel benefits of the passport as some countries deny entry based on this.

[@TheWanderingInvestor]

@@neutral0 yes, likely to change in the furure.

[@realalexmackenzie]

I've been to Uruguay. Can attest that it is pretty sleepy. Not entirely a bad thing though, especially if you have a business to grow. It ticks a lot of boxes for getting a second passport in a cost-effective (and tax-effective) way. The biggest thing that gives me pause is the fact that the passport may not be a great backup travel document. It would be good if they did change the rules and stopped listing your country of birth in the Uruguayan passport. There is one other possible concern, that being that I think they can revoke your citizenship if you subsequently naturalize elsewhere. For someone looking to build a bit of a passport portfolio, this could be a deal-breaker.

[@imrannazeer4846]

Hi I'm imran from Pakistan. and i want to get Uruguay🇺🇾 residency. can you tell without coming into Uruguay it's possible?

[@evogreen81]

In the video it was mentioned that you need to book the appointment a couple months in advance of coming to Uruguay. However, my understanding is that requesting an appointment today will result in an immigration appointment that will take place 9 months in the future due to increased demand and lack of ability to service this demand.

[@benjamind3448]

Hi Macarena. Will purchasing an apartment for $400,000.00 mean that the monthly income requirement of $1500.00 can be waived?

[@World_Travel_0708]

Mostly people are from Asia do ask questions in that point of view as well. Buying property any option

[@faustinodibauda251]

Oh Macarena😂 sorry it just came out

[@jgm3620]

Great information, it is also a pleasant place to live close to the atlantic. In fact I have lot of Argentinian friends who spend their holidays in Uruguay

[@juleslee]

Can the proof of income requirement be met while you're already in Uruguay, considering it takes six months to become a tax resident? Or can bank statements from your home country suffice, without needing tax records?

[@TheWanderingInvestor]

@@juleslee yes, and whatever contracts justify the koney showing up on said bank statements

[@juleslee]

@@TheWanderingInvestor come again?

[@MyLatinLife]

Good intel!

[@alexg6702]

Ladislas, while you mention Uruguay’s positive attributes regarding stability, residency, tax, banking, etc.. you describe UY ‘incredibly boring’. How does this compare to Montenegro where even the coast can be very quiet indeed, especially outside of summer? It seems this video was posted recently during the southern hemisphere winter, maybe it has something to do with how quiet the place may be. Punta del Este and the Maldonado region has a full time population of just 20,000 which swells to 200,000+ during the peak season when apparently it becomes the Saint Tropez/Monaco of South America. I guess if one wants/needs a bit of excitement there is always a short ferry ride or flight to Buenos Aires 🎉

[@TheWanderingInvestor]

@@alexg6702 Montenegro has mountains, skiing, hiking, old towns, yachtclubs, etc, and is also a short flight away from Belgrade, Istanbul, Budapest. Uruguay has peak season, and the rest of the time really cold water and fields.

[@FlyWithVeiga]

Love the video; great content! Learned a lot 🇺🇾

[@profbradleywilson]

$1500 per month income per person. What about. Single adult, one dependent? AND where is evidence their pseudo passport citizenship will change in the future?

[@TheWanderingInvestor]

$1,500 is for a single person. For a family $2,500. The numbers above a person are not set in stone.

[@NickTravels0]

I'm on the way!

[@АлександрШохнин-о9н]

This is very interesting. Thank you very much for your videos! Could you make a video about the profitability of real estate in this country?

[@TheWanderingInvestor]

@@АлександрШохнин-о9н it’s very low in terms of rental yields.

[@alexg6702]

Like some other small countries it is primarily a cash real estate market. Mortgages are mostly for residents at a high 50% LVR. That makes for a stable market, affordable but with limited capital growth. Difficult to generalise but high single digit yields possible, most of that return, especially on the coast, can be achieved during the summer months alone. The Rocha coast has potential though for some capital growth. About an hour and a half from Punta del Este, is becoming popular for those seeking nice beaches, relaxation and less desire ‘to be seen’ like Punta. Demand for beach homes and land is on the increase. Even the president of the country has a beach home there. So, the long and short of it, UY property is partly lifestyle choice or even a proxy for an offshore bank account.

[@micomarinas2753]

few questions: can I just renew the temporary permit every 2 years? do they tax capital gains, dividend, bank interest, cryptocurrency on the worldwide income? is there any wealth tax and inheritance tax? is there a citizenship by birth and citizenship by marriage?

[@TheWanderingInvestor]

Too much of an essay to answer this 😅

[@alexg6702]

Information should be readily available. Not sure about temporary residency, it transitions into permanent residency relatively easily if you meet minimum income requirement. I understand tax works like this: you have a 10 year tax holiday on all income excluding year 1 (so effectively 11 years). After year 11 you pay 12% on all dividends and interest, no tax on foreign rental or business income. Option 2: you can choose to pay a flat 7% from day 1. I guess it depends on personal preference or how long you expect to live for 😊. Need to check but if you have local investments, eg rental property, you pay a flat 12%

[@lettruthprevail9820]

Is it $100K or $400K property purchase?

[@TheWanderingInvestor]

@@lettruthprevail9820 $400k