10 steps to incorporate in Uruguay in 2023
Thanks to our business incorporation services in Uruguay, our Client will not have to travel to start his company. Our Firm will indeed complete all procedures on his behalf. Please refer to this page for the timelines required to complete the engagement according to the Uruguay business entity chosen. Formation of a limited liability company in Uruguay is usually completed following the below steps:
- Before Healy Consultants starts to incorporate our Client’s company in Uruguay, our Firm requests that he or she i) settles our fees requested to project-manage the engagement ii) signs and returns our engagement letter and iii) provides us scans of all the documents required for our due diligence checks;
- Healy Consultants assists our Client to decide on i) proposed company’s name and ii) the optimum corporate structure including directors and shareholders;
- Healy Consultants provides our Client with a detailed engagement plan. Such document i) puts in writing the aforementioned engagement project’s specifics and ii) outlines Uruguay company incorporation timelines, thus minimizing unwanted surprises and meeting Client expectations;
- Prior to Uruguay business incorporation, Healy Consultants also prepares and couriers business incorporation forms and other required documents for our Client’s signature, and our Client returns them to us;
- If required, Healy Consultants provides our Client with a local business address in Uruguay for invoicing purposes, together with telephone, fax, and email support;
- To support company incorporation in Uruguay, Healy Consultants’ Banking Team completes corporate bank accounts opening in Uruguay or abroad for our Client. The account includes world-class multi-currency Internet banking facilities with international banks: i) HSBC ii) Citibank and iii) Santander iv) or local banks like BROU;
- When the bank account is opened, our Client transfer the company’s initial share capital. Healy Consultants will obtain on behalf of our Client a certificate of deposit, as such document is required to pursue the incorporation process;
- Our firm then i) notarizes the company’s bylaws and signatures ii) file such document with the Uruguay Companies Office’s one stop shop to obtain a certificate of business registration and iii) pays on behalf of our Client VAT and tax registration fees;
- If required, Healy Consultants assists our Client to i) recruit local staff and/or ii) apply for work permits for expat staff following incorporation and iii) apply for licenses, if any is required by our Client’s business;
- Following setting up a company in Uruguay, Healy Consultants provides our Client with a complete company kit including i) original Certificate of Incorporation ii) a bound copy of the Uruguayan government-approved Articles of Association iii) original share certificates iv) an original Uruguayan government receipt as evidence of payment of annual Uruguay company registration and license fees and v) an engagement feedback survey to assess the quality of our Uruguay company incorporation services.
Frequently asked questions
How long will it take to complete the Uruguay company incorporation process?On average, incorporating a company in Uruguay takes 19 weeks, which also include research to provide our Client with a project engagement tailored to his needs and procedures to open a corporate bank account. Company registration takes on average only 9 weeks, so our Clients with a well-defined project will enjoy reduced incorporation timelines, as less research will be required.
Is it possible to speed up the incorporation process?Our Clients may alternatively want to buy a Uruguay shelf company provided by our company. Such option is expensive, but will allow them to complete incorporation within 4 weeks. Please refer to our Uruguay turnkey solution page or contact our Uruguay CRO for additional information regarding this service.
Who will be liaising with me during the incorporation of my Uruguay company?Our in-house Uruguay company incorporation specialist Kunal Fabiani will liaise with you during the whole incorporation process, either in English or Spanish according to your preferences. If needed, you may also ask us to appoint another Uruguay incorporation service provider who will assist you in another language, such as Mandarin, Bahasa, French or Hindi.