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Ease of Doing Business in

Uruguay

Uruguay Download Profile (1749.8KB, pdf)
Region Latin America & Caribbean
Income Category High income
Population 3,431,555
GNI Per Capita (US$) 15,720
City covered Montevideo

190

1

DB 2017 Rank

1

100

DB 2017 DTF (% points)

  • local_library
  • group
Topics DB 2017 Rank DB 2016 Rank info_outline Change in Rank DB 2017 DTF (% points) info_outline DB 2016 DTF (% points) info_outline Change in DTF (% points) info_outline
Overall 90 89 down
1
61.85 61.33 down
0.52
Starting a Business 60 55 down
5
89.79 89.90 down
0.11
Dealing with Construction Permits 163 159 down
4
54.79 54.68 up
0.11
Getting Electricity 43 41 down
2
82.12 82.12
-
Registering Property 110 108 down
2
58.01 57.60 up
0.41
Getting Credit 62 60 down
2
60.00 60.00
-
Protecting Minority Investors 123 118 down
5
45.00 45.00
-
Paying Taxes 113 123 up
10
66.08 61.26 up
4.82
Trading across Borders 146 146
-
55.98 55.98
-
Enforcing Contracts 111 109 down
2
54.44 54.44
-
Resolving Insolvency 61 62 up
1
52.26 52.37 down
0.11

Positive=Doing Business reform making it easier to do business. Negative=Change making it more difficult to do business.

DB 2017 Rank: 60

DB 2016 Rank: 55

Change in Rank: down5

DB 2017 DTF (% points): 89.79

DB 2016 DTF (% points): 89.90

Change in DTF (% points): down0.11

Standardized Company
Legal form: Sociedad Anónima (SA)
Paid-in minimum capital requirement: UYU 0
City: Montevideo
Indicator Uruguay Latin America & Caribbean OECD high income
Procedure – Men (number) info_outline 5.0 8.3 4.8
Time – Men (days) info_outline 6.5 31.6 8.3
Cost – Men (% of income per capita) info_outline 22.5 31.5 3.1
Procedure – Women (number) info_outline 5.0 8.3 4.8
Time – Women (days) info_outline 6.5 31.6 8.3
Cost – Women (% of income per capita) info_outline 22.5 31.5 3.1
Paid-in min. capital (% of income per capita) info_outline 0.0 2.3 9.2
  • No. Procedure Time to Complete Associated Costs
    1

    Select and reserve the name of the company from a list of names provided by the one-stop shop online portal (www.portaldelaempresa.guy.uy)

    Agency: National Audit Office

    The entrepreneurs will select the company’s name from a list of names offered by the one-stop shop online portal.
    Less than one day (online procedure) Included in procedure 5.
    2

    Open a bank account and deposit the initial capital

    Agency: Bank

    When Act No.18.083 (Tax reform law) became effective, the minimum amount of authorized capital for corporations was eliminated. Consequently, as of July 1, 2007 founders of corporations are free to set the amount of capital. The entrepreneurs need to open a bank account and deposit the initial capital. The bank fees vary by bank.
    1 day USD 200 (Varies by bank)
    3

    Notarize company's bylaws and signatures

    Agency: Notary

    The fee to notarize the company’s articles of association and its signatures depends on the company capital: the fee is usually calculated as 0.5% of the capital plus notary taxes of 15.5%, with a minimum fee of 40 adjustable units (Unidad Reajustable-UR). The UR is published on a monthly basis, and as of March 2016, its value is UYU 895,54.
    1 day 0.5% of capital, minimum 40 U.R. + 15.5% notary tax
    4

    Incorporation and registration of the company at one of the offices of "Empresa en el Día"

    Agency: Empresa en el Dia

    All documents have to be presented and all registration fees have to be paid at Empresa en el Dia (one-stop shop).

    Corporations with bearer shares as well as trusts and investment funds shall submit to the Central Bank of Uruguay and affidavit informing “the issuing entity” about their shareholding.
    3 days Included in procedure 5.
    5

    Pay fees and taxes in any local Payment Agency

    Agency: Payment Agency

    The company needs to pay the fees and taxes at a local payment agency. The current fees were updated from March 2016 official table fee.

    Cost details: UYU 2,291 (registration fee) + UYU 2,292 (book registration) + UYU 4,478 (approval of public deed) + UYU 6,928 (publication in the Official Gazette) + UYU 28,134 (ICOSA tax) + UYU 140 (professional stamp on Forms 351 and 352) + UYU 140 (form 050 134 Rec. 205) + UYU 1,146 (name registration)
    1 day see procedure details