How to invest with confidence in South America's most exclusive destination
Can foreigners buy property in Uruguay?
Yes. In Uruguay, there are no restrictions on foreigners purchasing real estate. All that's required is a valid passport and proof of funds for the purchase. Foreigners enjoy the same property rights as Uruguayan citizens, making the country one of the safest and most open destinations for real estate investment in Latin America.
Is it necessary to reside in Uruguay to purchase?
No. You can purchase a property without being a resident. The transaction can be carried out as an individual or legal entity, even through a foreign company. This allows investors to acquire real estate in Uruguay without having to establish formal residency.
Do I have to travel to Uruguay to complete the purchase?
It's not mandatory. If you can't be present, you can grant a power of attorney to a trusted representative or notary public to sign on your behalf. This mechanism facilitates remote purchases, which are very common among international investors.
Expenses and taxes when buying a property
The total acquisition cost, including fees and taxes, typically represents between 8% and 9% of the property's value. Key items:
- Real estate agent fees: 3% + VAT (22%) = 3,66%.
- Notary fees: 3% + VAT (22%) = 3,66%.
- Property Transfer Tax (ITP): 2% on the cadastral value.
- Administrative expenses: between USD 300 and USD 800.
The role of the notary
The notary public guarantees the legality of the entire transaction, verifying that the title is free of liens, that there are no mortgages or debts, and that the documents comply with the law. Their involvement ensures a secure and transparent transaction.
First step: the reservation ticket
The process begins with the signing of the reservation deed, an initial agreement that includes the property's identification, price, and payment terms, along with a 10% deposit of the total value. With this document, the notary begins the legal review of the title.
Process deadlines
On average, the purchasing process is completed in 30 to 60 days. This timeframe can be shortened if all the documentation is available. Uruguay has a streamlined system and highly trained professionals.
Legal residency when purchasing a property
Buying a property facilitates legal residency in Uruguay. With it, you can obtain a Uruguayan identity card and access full rights to live, work, and invest in the country.
Tax residency through real estate investment
If you purchase properties valued at more than 3.500.000 Indexed Units (approximately USD 550.000), you can obtain Uruguayan tax residency by staying in the country for only 60 days a year. Luxury Punta collaborates with specialized agencies to manage this process.
Luxury Punta Services for Foreign Buyers
Luxury Punta offers comprehensive services: real estate consulting, connection with local professionals, after-sales management (bank accounts, utilities, property management), and legal and tax assistance.
Security and stability of the Uruguayan market
Uruguay stands out as one of the safest and most stable countries in Latin America. Its legal system protects private property, and its economy is recognized for its transparency and predictability.
Do you have more questions?
At Luxury Punta, we specialize in assisting foreign buyers. Contact us and we'll help you make your investment in Punta del Este with confidence and support.
