Uruguay Citizenship & Residency by Investment Guide 2024

Uruguay has a Residency by Investment program that makes it easy for foreign investors to become legal residents. You can qualify by investing in real estate, starting a business, or showing a consistent active income. This program opens the door to Uruguay's great quality of life, with its safe environment, strong economy, and friendly atmosphere for expatriates in South America.

Uruguay Residency by Investment Program Overview

The Uruguay Permanent Residency by Investment Program provides an appealing opportunity for wealthy individuals seeking legal or tax residency in a stable and prosperous country. By investing in approved sectors, applicants can embark on a straightforward path to obtaining residency status. Eligible investments may include real estate purchases, business ventures, or other financial contributions, all while ensuring that the source of funds is transparent and verifiable.

The application process for permanent residency by investment typically takes around 4-12 months to process, during which time the investor is granted a temporary residence permit valid for 2 years. 

In addition to the investment route, overseas investors seek to obtain tax residency in Uruguay. The first and simplest way to achieve this is by spending at least 183 days per year in the country. Alternatively, those who need to travel abroad for short-term reasons can qualify for tax residency by staying for 140–150 days per year in Uruguay. Furthermore, investors who have established a presence in the country can maintain their residency status by spending just 60 days per year in Uruguay. For this route, applicants may also prove that their vital interests are centered in Uruguay to become tax residents.

The Uruguay tax residency is determined for a particular year and may change from year to year. Once tax residency is established, it can be extended for an additional 5 years if the applicant  invests at least USD 510,000 in Uruguay's economy. This extension applies only to those whose initial residence permit is less than five years old. 

Tax residency, often referred to as a "Uruguay Golden Visa," is distinct from legal residency. Uruguay issues a tax residence certificate as proof of this status, which is separate from legal residency and only applies to those meeting specific requirements. Uruguay offers several pathways for foreign investors to qualify as tax residents. In line with the latest changes as of December 2023, the requirements for obtaining tax residency through investment are as follows.

1. Real Estate Investment: Investors can qualify by purchasing real estate in Uruguay valued at more than USD 2,202,640, based on the updated fiscal value of each property.
2. Business Investment: Another route is to make direct or indirect investments in a company valued at over USD 6,607,915. This includes investments in activities or projects recognized by the government as being of national interest.
3. Real Estate Investment with Physical Presence: For investments made after July 1, 2020, individuals who purchase real estate worth more than USD 513,950 (considering the fiscal cost) and maintain a physical presence in Uruguay for at least 60 days during the calendar year can also qualify for tax residency.
4. Business Investment with Job Creation: Investors can obtain tax residency through direct or indirect ownership in a company valued at over USD 2,202,640, provided the investment is made after July 1, 2020. Additionally, the business must generate at least 15 new full-time jobs in Uruguay during the calendar year. These jobs must be newly created and not result from a reduction of jobs in related entities. The total cumulative investment from the specified date to the end of the calendar year will be considered.
5. Generating Higher Active Income in Uruguay: An individual can qualify as a tax resident if they generate more active income in Uruguay than in any other country, which cannot be passive income (e.g., from rental properties).

Uruguay Residency by Investment Requirements

To obtain a residence permit in Uruguay through investment, applicants must meet specific requirements. The primary applicant must be at least 18 years old, in good health, and have no criminal record. In addition, they must provide evidence of a stable income and sufficient financial means to support living in Uruguay.

Family members who can apply for residency along with the main applicant include a spouse, as well as children and parents who are financially dependent on the applicant.

Required Documents for Uruguay Residency

All supporting documents must be translated into Spanish and properly apostilled. The following documents are required:

• Passport-sized photo of the applicant.
• Original identity document used to enter the country.
• Valid occupational health card issued by public or private health providers authorized by the Ministry of Public Health.
• Valid vaccination card issued by a vaccination center in Uruguay, certifying that the foreigner complies with the Uruguayan vaccination schedule.
• Medical insurance.
• Documentation proving the applicant's means of livelihood, according to the activity being processed (except for citizens of MERCOSUR member countries).
• A criminal record certificate, duly legalized, apostilled, and translated into Spanish—if applicable—from the country of origin and from countries where the applicant has resided for a period of 6 months or more in the last 5 years.
• Birth and/or marriage certificate, if applicable. The birth certificate is required when the applicant is under 18 years old; it must not be more than 1 year old at the time of application, and it must be duly legalized or apostilled, and translated if necessary.
• Police certificate of good conduct.
• Proof of intent to remain in the country, including the address in Uruguay. 
• Evidence of investment. 

Benefits of Residency in Uruguay

Uruguay is an attractive destination with a welcoming environment with a high quality of life. From a strong economy and safety to a straightforward path to citizenship, the country offers numerous benefits to residents and is a popular choice for expats worldwide. The main ones are listed below. 

Expat-Friendly Environment

Uruguay is known for its friendly approach to foreigners. Expats can easily open bank accounts, as well as rent or purchase property without much hassle. Although the majority of the population speaks Spanish, there's no significant linguistic profiling, and locals are generally supportive and willing to assist those who do not speak the language. Uruguay's immigration authority is also accommodating, typically approving applications for permanent residency if all requirements are met.

Right to Live, Work, and Conduct Business

With permanent residency, individuals and their families can stay in Uruguay indefinitely. Adults over 18 can work, and tax residents have the freedom to start businesses and earn income within the country. Additionally, new residents can move their personal belongings to Uruguay duty-free.

Access to Quality Healthcare

Legal residents in Uruguay enjoy access to both public and private healthcare services throughout the country. By obtaining a national identification card, or "cédula de identidad," residents are entitled to free healthcare. The country provides three types of healthcare plans: public, private, and employer-funded, ensuring comprehensive medical care and safety for residents.

Opportunity for Citizenship

One of the significant benefits of residing in Uruguay is the potential to gain citizenship. Married couples can apply for citizenship 3 years after applying for permanent residency, while single individuals are eligible after 5 years. To qualify, residents should not spend more than six months abroad annually during this period. A Uruguayan passport grants visa-free access to over 150 countries, including the Schengen Area, South America, the UK, Singapore, and Japan.

Strong Economy and High Safety Standards

Uruguay is often called the "Switzerland of South America" due to its strong economy, with a GDP comparable to some European countries. Despite this, the cost of living remains relatively affordable, especially in comparison to European capitals. The country also ranks high in safety, placing 52nd in the Global Peace Index, making it one of the safest destinations in South America.

Uruguay Investor Visa Application Process

To get permanent residency in Uruguay, the application process involves several well-defined stages. Here is a step-by-step breakdown:

Step 1. Obtain a Visa to Enter Uruguay (Up to 1 Month)

Applicants need to secure a visa, which could be a tourist or any other short-term visa. Citizens from countries like the US, Canada, Australia, New Zealand, South Africa, Japan, and some countries in Asia and Latin America do not require a visa due to visa-free agreements with Uruguay.

Step 2. Collect, Apostille, and Translate Necessary Documents (Up to 1 Month)

Applicants need to gather all required documents, which vary based on the type of residence permit. For example, those applying for a residence permit for financially independent persons must provide proof of income and ownership of real estate in Uruguay. All documents must be apostilled and translated into Spanish.

Step 3. Book a Medical Test Appointment (1 Week)

Applicants must provide proof of general wellness. Lawyers help book appointments with certified private clinics in Uruguay to fulfill this requirement.

Step 4. Submit Your Application

Once all documents are ready, applicants can proceed with the submission phase:

• Online Submission: Applicants can apply online through the Uruguayan government’s official migration portal. This method is convenient for those who prefer starting the process remotely.
• In-Person Submission: Alternatively, applicants can submit their application in person at the National Migration Office (Dirección Nacional de Migración) in Uruguay. An appointment is required for in-person submissions, and due to high demand, securing an appointment may take several months.
• Document Submission: Regardless of the submission method, it is crucial to ensure all documents are complete and correctly formatted, as missing or improperly prepared documents could delay the application process.

Step 5. Receive the Temporary Residence Card (10+ Days)

After submitting the application, applicants receive a temporary residence card, known as the "cédula de identidad," which is valid for 2 years. The residence permit is typically issued within 10 days after applying.

Step 6. Obtain Permanent Residence (Up to 4 Months, sometimes up to 12 Months)

After the application is approved, the investor and their family members can collect their residence permit cards. This process usually takes up to 8 months, but in rare cases, it can extend up to 12 months.

Investment as a Path to Uruguay Citizenship

To acquire citizenship in Uruguay through investment, residents must fulfill certain residency requirements along with establishing a foothold in the country. The process begins with obtaining a residency permit, which can be granted based on various criteria, including property investment, establishing a business, or other forms of economic engagement. 

Residency Requirements for Citizenship

To become eligible for Uruguayan citizenship, residents must maintain continuous residency for a set period, which varies based on their personal circumstances. Generally, applicants must reside in Uruguay for 3 to 5 years:

• Married couples or those with children: Eligible to apply for citizenship after 3 years of continuous residence.
• Single individuals: Must wait for 5 years of continuous residence before applying.

Continuous residency means maintaining a real presence in Uruguay. While temporary absences are allowed, they must not interrupt the residency period or suggest a lack of genuine commitment to living in the country. The Uruguayan government emphasizes integration into local society, so time spent abroad could impact the eligibility timeline.

The Citizenship Application Process

The citizenship application process requires applicants to be physically present in Uruguay; it cannot be completed remotely. Applicants must visit Uruguay in person to submit their documentation and attend interviews as part of the process. The processing time for a Uruguayan passport can vary but generally takes around 4 to 12 months. During this period, applicants must demonstrate continued ties to the country. 

Key documents required for citizenship include:

1. Birth Certificate: An official, apostilled copy of the applicant's birth certificate.
2. Proof of Entry (Certificado de Llegada): A document issued by Uruguayan authorities confirming the applicant's entry into the country.
3. Lease Agreement or Property Ownership Certificate: Evidence of residence in Uruguay, either by renting or owning property.
4. Proof of Identity: Testimonials from at least two Uruguayan nationals who have known the applicant for at least three years (excluding relatives, lawyers, or foreign nationals).
5. Bank Statements: Documents showing financial activity and stability in Uruguay.
6. Proof of Commercial Activity or Employment (if applicable): Evidence of engagement in local business or employment.
7. Additional Proofs of Integration: Documents that illustrate the applicant's involvement in Uruguayan society, such as membership in local clubs, participation in cultural or community activities, or holding health insurance with a national provider.

FAQ

How Much Money Do You Need to Get Uruguay Residency by Investment?

To get Uruguay residency by investment, a foreign investor needs to meet one of several investment thresholds: invest in real estate valued over USD 2,202,640 or invest in a company valued over USD 6,607,915. Alternatively, residency can be achieved by purchasing real estate worth more than USD 513,950 (for investments made after July 1, 2020) and staying in Uruguay for at least 60 days a year, or by investing in a business valued over USD 2,202,640 (for investments made after July 1, 2020) that also creates at least 15 new full-time jobs. Another option is to generate more active income in Uruguay than in any other country. These thresholds reflect the required minimum investments as of December 2023. Moreover, there are costs for legal services, government fees, and fees for translation and apostilization of documents, which can vary depending on the complexity of each case.

How Long Does it Take to Get a Uruguay Residency by Investment?

The process of applying for a Uruguay residency by investment usually takes about 4 to 12 months. During this period, the investor receives a temporary residence permit that is valid for 2 years.

What Other Popular Residency by Investment Options in South America?

In addition to Uruguay, several other South American countries offer attractive residency by investment programs, including Argentina, Chile, Colombia, and Paraguay. Each of these nations provides investment visas tailored to attract foreign investors.

Argentina

Argentina offers a residency by investment option that allows foreigners to obtain a temporary residency visa by investing in business. The required minimum investment is around USD 2,000, and applicants must provide proof of funds and a detailed business plan outlining the intended investment. This visa can lead to citizenship  after two years of temporary residency, offering a flexible pathway for investors seeking to establish a presence in Argentina.

Chile

Chile's investor visa program has two primary routes. The first option requires a minimum investment of USD 500,000 in a Chilean project, with proof of funds as a crucial condition. The second route is aimed at employees, specifically senior managers of Chilean companies in which a foreign investor holds at least 10% of the voting rights. This option emphasizes the need to demonstrate an equity link between the foreign investor and the Chilean company.

Colombia

Colombia presents two main investment visa options. The Real Estate Investment Visa (M-10) requires a minimum investment of about USD 116,000 in real estate. Alternatively, the Business Investment Visa (M-6) is available for those investing in existing businesses, entrepreneurial ventures, or new companies, with a lower investment threshold of approximately USD 33,000.

Paraguay

Paraguay’s Investment Visa provides a straightforward path to permanent residency through the Unified System of Opening and Closing of Companies (SUACE). The requirements include a signed declaration of intent to invest and start a business in Paraguay, along with proof of sufficient financial resources for personal maintenance. Permanent residency is granted immediately upon approval, with a minimum investment requirement of USD 70,000 over ten years, potentially reduced if citizenship is pursued.