Uruguay: a Favorite for Investing, Banking & Residency

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1 Uruguay: a Favorite for Investing, Banking & Residency Panama September 2011

2 Real Estate: Montevideo PONGO APTOS POCITOS CAMPO CHICO, CON RENTA CAMPO GRANDE INMUEBLE CIUDAD VIEJA APTOS PUNTA CASAS PUNTA TIERRA EN ROCHA SUGAR LOAF PRESTAR $$$$$$ Hago fichas de aptos, campos, chacras

3 RESIDENCY AND IMMIGRATION

Obtaining Uruguayan Residency Simple process, but bureaucratic It takes 6 to 10 months to obtain resident status After 3/5 years, one can apply for citizenship/passport Steps to obtain residency:

5 Obtaining Uruguayan Residency Simple process, but bureaucratic It takes 6 to 10 months to obtain resident status After 3/5 years, one can apply for citizenship/passport Steps to obtain residency: First, gather all the necessary documents (abroad) Then, enter Uruguay, as a tourist Within 90 days (extendable for another 90 days), submit the application at DNM Once the request is submitted, the person may stay in the country indefinitely, as a temporary resident

6 FOTO POCITOS

7 Real Estate: Montevideo Uruguay's capital Largest city, 1.5 M people Main airport, port Banks, industries Main hospitals, universities Montevideo has two main choices for the investor: Old City Shoreline condos, residential neighbourhoods

8 Why Uruguay? Latin America's safest country Politically stable, solid democracy No large social differences, blend-in Excellent, affordable, health care Corruption not an issue

9 Why Uruguay? Great infrastructure Free entrance and exit of capital No inheritance tax Banking secrecy, solid banking system Safe, solid, investment options

10 What does Uruguay have to offer? A. Residency: a safe, stable option B. Second home/summer home C. Banking D. Investing:- real estate - farmland

11 RESIDENCY

12 Obtaining Uruguayan Residency Apply in one day It takes months to become a resident After 3/5 years: citizenship & 2nd passport

13 Steps First, gather documents (abroad) Then, enter Uruguay, as a tourist Within 90 days submit the application Once the request is submitted, you may stay in the country indefinitely, as a temporary resident

14 What documents do I need? 1.Birth certificate 2.Clean police record (U.S. citizens: obtained in Uruguay, at Interpol) 3.Proof of income (USD 500 / month) 4.Marriage certificate *

15 Remember to legalize the documents before sending them The documents obtained abroad require legalization (a stamp) at the Uruguayan Consulate in country where they were issued Other requirements: in Uruguay (medical, pictures, translations)

16 Benefits of Residency Stay in Uruguay indefinitely Get ID for different activities Bring household goods import duty-free Get the clock ticking for citizenship/2 nd passport

17 Requirement to reside in Uruguay? You must have an address (own or rent a place) And spend part of your time in Uruguay (you may come and go)

18 Citizenship Uruguay allows dual, triple, citizenship When gaining citizenship, you obtain a full passport Requirements: 3/5 years of resident status Connection: example: a home Presence: 6 months per year

19 Tips on Residency # 1: Send your immigration lawyer copies of the documents you intend to submit, before travelling, so they can be verified

20 Tips on Residency # 2: Send your immigration lawyer and customs agent the list of belongings you plan to bring, previously

21 Tips on Residency # 3:Open a bank account in Uruguay

22 BANKING

23 Uruguay's Banking system is solid Few banks, all foreign-owned plus one government bank (BROU) Banking Privacy Law No history of forced conversion or freezing of deposits

24 Opening a Bank Account Foreign non-residents can open accounts in any currency (a few banks do not open accounts to U.S. Citizens) No special requirements for foreigners: ID (passport) Proof of Address (utility bill) Bank reference letter Proof of income source

25 INVESTING IN URUGUAY

26 Investing in Uruguay Foreign investors, locals: same treatment Freedom to move capital: when investing and when moving profits 3 A s: Who can buy/invest? Anyone: No discrimination of foreign buyers of property or investors How? Any way: individual(s), corporate vehicle (local/foreign), IRA. What? Anything: No limitations (such as restrictions on borderline property, beachfront, etc.).

27 Investing in Uruguay: Diversity of Choices Farms Offshore services Logistics Real Estate: Colonia Real Estate: Montevideo Forestry Exports Toursism & hotels Real Estate: Atlantic coast

28 Farmland Uruguay is a big farming country Agriculture, Wine Forestry, Cattle Options: Farms of any type Small farms to live in Farms

29 Advantages of farmland Global demand for food, increasing trend Consistent long-term appreciation Annual cash return Non-volatile asset Store of value

30 Why farmland in Uruguay? Most suitable country Turnkey, easy Transparent market

31 Why farmland in Uruguay? MAPA DE CHRIS ACA ********** ******** Source: Atlas of the Biosphere Center for Sutainabitity and the Gtobal Environment Universitv of Wiscornin - Madbon

32 Global soil degradation, and where Uruguay stands

33 Global water shortage and where Uruguay stands Source: Intergovernmental Panel on Climate Change, 2007

34 Why Uruguay? Most suitable country, and Turnkey, easy: Investor may farm the land directly Or hire a farm management company Or simply rent the land (there s a very liquid rental market for agricultural land) A transparent market: An online system ( CONEAT productivity index) allows to compare properties and their value

35 Farmland: the Coneat Productivity Index

36 Real Estate: Montevideo

38 Farms: For productive use Example # 1: Farm with high productivity index in Colonia 54 Hectares (133 Acres) High productivity index: 178 Ask price: USD 394,200 (7,300/hect, 2,920/acre) Rental: 3.5-4% Run by owner: 6-12% Good appreciation potential

39 Farms: As a home Example # 2: 5 hectare (13 acres) chacra Located in hills, Lavalleja province Modern house, 1,450 sq.ft. 3 BR, 2 bath, pool, deck, jacuzzi Ask price: USD 320,000

42 Rocha Rocha Easternmost province Oceanic Next development after Punta del Este Options: Houses in small beach towns near Lots in subdivisions near ocean Raw beachfront land for development

43 Real Estate: Eastern Shore (Rocha) 43

44 44

45 Rocha : Lots Example # 3: Three contiguous lots Between La Paloma and La Pedrera One block from ocean Total: 1,747 sq.m. (18,784 sq.feet) Ask price: USD 74,500 (USD 43/sq.mt) Good appreciation potential

47 Montevideo Uruguay s capital: 1.5 M Main schools, hospitals, cultural life Options: Shoreline condos Buildings in Old City Large homes in residential areas Montevideo

48 Montevideo: One bedroom apartment Example # 4: Condo in Punta Carretas 3 blocks from shore 430 sq.ft, 1 BR, 1 bath Ask price:usd 135,000 Rental yield: 7% Condo fees:usd 125 Moderate appreciation potential

49 Montevideo: three bedroom apartment Example # 5: Large condo on shore drive 1,600 sq.ft, 3 BR, 2 bath Ask price:usd 445,000 Rental yield: 7% Condo fees:usd 400 Moderate appreciation potential

50 50

51 FOTO VILLA BIARRITZ, RAMBLA

52 Montevideo: the Old City Example # 6: Old style house, one block from main square 4,337 sq.ft., three floors, 4 BR, 4 bath, garage, fireplace Ask price:usd 360,000 Rental yield: potential: 8-10% Good appreciation potential

55 Punta del Este Punta del Este South America's most exclusive summer destination Low population in winter, but enough activity for year-round Options: Shoreline condos Houses near beach Lots in subdivisions

57 Real Estate: Punta del Este 57

58 Real Estate: Punta del Este 58

59 Punta del Este: shoreline condo Example # 7: 16th Fl sq.ft 2 blocks: downtown 3 br, 2 bath Ask price: USD 260,000 Condo fees: Rental: summer, 4% Moderate appreciation potential

60 Remember: EASY TRANSPARENT SAFE

61 Contact information Juan Federico Fischer Check our site for detailed presentations

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