Latin America · Southern Cone
Uruguay
The Switzerland of the Southern Cone — stable institutions, real banking, no wealth tax on foreign assets, and an eleven-year tax holiday that was just rebuilt and repriced.
Tax position
- Income tax (top)
- 36% on labour income (IRPF Category II)
- Capital gains
- 12% — and from 1 January 2026 this extends to gains on foreign assets that generate movable-capital yields
- Wealth tax
- yes on Uruguayan-situs assets (Impuesto al Patrimonio), with a meaningful exempt minimum; foreign assets are outside its scope
- Inheritance tax
- none as such; a small transfer tax (ITP) applies on Uruguayan real estate transmissions
- Special regime
- Tax holiday for new tax residents: IRNR treatment (effectively nil) on foreign passive income for the year of arrival plus ten more — 11 years — for those becoming resident from 1 January 2026, then either ~6% for five years or a fixed annual IRPF sum.
- Territorial
- No — worldwide income taxed
- CFC rules
- Yes
- Exit tax
- No
- CRS
- Participating
Is Uruguay actually right for your family?
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