The Uruguay - Sociedad Anónima

The company only pays tax on earnings inside Uruguay, so this is a very popular option for a "tax-shelter" trading company. This is especially true, as fiscal authorities in Europe do not regard the company as a non-taxable entity.

General information

The companies can have nominee shareholders or bearer shares, except if the company is involved in financial activities.

The Law number 16,060 governs the activities of all "Sociedades Anónimas Comunes"

There are two types:

• The open companies - which in general have public subscription, and are quoted in a stock exchange.
• Those which are closed.

Shares

• The liability of the investors is limited to the share capital in the company.
• The shares can be issued as both nominee shares and bearer shares, with the transfer happening, simply by passing the certificates to the new owner, and communicating the new ownership to the company officials.
• There are no taxes on the transfer of shares.

Company object

There is no limit in what the company can do.

Company formation

• There has to be two people or companies involved as shareholders who have to put their share capital down, or made available for company purposes.
• There is no limit on the number of shareholders, and the number of shareholders can be reduced to one, following the company formation.
• There is no restriction on the nationality, domicile or resident of the subscribers of the company, the shareholders, or the directors.
• The company can start from the moment when the share capital is pledged: through money being put down or through money being made available.
• Until all the processes are completed, the shareholders are jointly responsible for all company actions.
• Ready-made companies can be made available.