Starting a Business · Uruguay
Starting a business in Uruguay: foreigner's guide (2026)
Uruguay shaded by its starting a business status
Uruguay is one of Latin America's most open and straightforward jurisdictions for business formation by foreigners. Foreign investors may own 100% of a Uruguayan company with no prior authorization required and may choose from several entity types, including the fully digital SAS (introduced by Ley 19.820/2019) which carries no statutory minimum capital. The standard process — notarized bylaws, registration with the Registro Nacional de Comercio, and enrollment with DGI and BPS — is typically completed in 15–30 business days, with accelerated digital pathways available for the SAS.
Key points
Uruguayan law treats foreign and domestic investors equally; foreigners may own 100% of any Uruguayan company with no local partner requirement and no prior authorization, except in a narrow set of strategic sectors (oil importing/refining, workers' compensation insurance, and landline telecommunications, which remain state monopolies).
Three principal forms exist: Sociedad Anónima (SA), Sociedad de Responsabilidad Limitada (SRL), and the modern Sociedad por Acciones Simplificada (SAS, Ley 19.820/2019). The SAS allows a single shareholder, imposes no statutory minimum capital, and can be incorporated fully online — making it the most accessible vehicle for foreign entrepreneurs.
Core steps are: (1) select entity type and draft/notarize bylaws (SA/SRL) or complete online form (SAS); (2) register with the Registro Nacional de Comercio (AIN); (3) publish constitutive act in the Official Gazette (SA/SRL); (4) obtain RUT tax ID from DGI via the Ventanilla Única; (5) register with BPS for social security. Foreigners must establish a local fiscal address and appoint a legal representative residing in Uruguay for notifications from DGI, BPS, and BCU.
Traditional SA/SRL formation takes approximately 15–30 business days; the SAS via the online portal (uruguayemprendedor.uy) can be completed in significantly less time. No physical presence of founders is required — incorporation can proceed by power of attorney.
The SAS (Ley 19.820/2019) imposes no statutory minimum capital; at least 10% of subscribed capital must be paid in at incorporation if contributed in cash (100% if contributed in kind), with full integration required within 24 months. SA and SRL also carry no absolute statutory minimum capital floor, though notary fees scale with declared capital.
Official fees include approximately USD 65 for the Registro Nacional de Comercio, approximately USD 315 for Official Gazette publication, and notary fees of roughly 5% of stated capital (with a minimum of approximately USD 1,600 for SA/SRL); the SAS online route significantly reduces notarial costs.
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Last verified 5/24/2026 · Orientation, not legal advice - verify against the primary sources linked above. Explore the full world map →