Uruguay offshore company
Uruguay Offshore Company. Corporate Structure
The decision regarding which corporate structure is more convenient for a business or specific situation, should be based on an analysis of diverse factors such as formal, legal and fiscal issues.
Fiscal regimes as convenient as Uruguay have captured the highest attention worldwide at the time of performing an operation or safeguarding assets.
There follows the details of the main aspects of the general regime of Incorporation in Uruguay, which you can access regarding the following issues:
Uruguay Offshore Company – Subject-matter, Corporate denomination and capital
The incorporation in Uruguay are created with a broad subject-matter, which enables to develop activities and avail of assets both out of Uruguay as well as within the country.
Furthermore, its specific line of business shall be determined, which is crucial for determining the fiscal situation of the incorporation.
The corporate denominations can be selected, upon a search at the National Internal Auditing Office, when the incorporation is created for a specific business.
In case an already established corporation is required, a list of denominations is available in order to select from it.
According to the regulations in force, the capital is not delimited regarding minimums and maximums. The average of established capital in the incorporation which are already established ranges from $U 30.000 to $U 80.000. This is due to the fact that at the time of setting them up 25 % of the established corporate capital shall be paid.
Uruguay Offshore Company – Shares and Share-Holders
The incorporation in Uruguay may consist of capitals with bearer shares or registered shares. In the first case, the incorporation shall inform the Registry at Banco Central del Uruguay about who are the bearers of the shares and in which percentages, which can be individuals or legal persons.
In the second case, if the shares are registered, it shall be stated in the representative title the name of the individual or legal person that holds them. Here, the information of the shareholders remains within the internal scope of the incorporation. Therefore, it is exempted from submitting the statement before the Banco Central del Uruguay, which is compulsory for corporations with bearer shares.
Shareholders can be individuals or legal persons, national or foreign citizens. There are no restrictions regarding percentages of shares per person.
Uruguay Offshore Company – Management
An administrator or a board of directors shall be in charge of the management of incorporations.
Individuals or legal persons, shareholders or not, may be appointed.
It shall be made up of a Director or several Directors acting in such a way that if two or them agree, it implies the acceptance of the rights and obligations involving the incorporation.
Furthermore, a President and Vice-President may be appointed, acting jointly or in distinctively.
Uruguay Offshore Company – Document Formalities
An Incorporation shall meet certain formalities. Firstly, it shall be registered before the National Registry of Commerce, informing said body regarding its denomination, head-office and established board of directors.
In addition, it shall be registered before the General Taxation Office (hereinafter DGI), taxation institution of Uruguay and before other bodies such as Social Security Bank (BPS) and the Ministry of Labour and Social Security (MTSS). The latter have more significance in the case the incorporation counts with paid-employees.
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