Why Uruguay?
Transcription
Why Uruguay?
URUGUAY: LATIN AMERICA’S HIDDEN JEWEL Residency ● Banking ● Investing Panama July 2012 www.fs.com.uy www.fs.com.uy 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 www.fs.com.uy RESIDENCY AND IMMIGRATION www.fs.com.uy www.fs.com.uy 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” www.fs.com.uy FOTO POCITOS www.fs.com.uy 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 www.fs.com.uy Why Uruguay? Investor-Friendly Country: Foreign and local investors treated equally No limitations to ownership by foreign buyers No currency exchange controls or forced conversion Foreign currency can be used: Dollars, Euros, etc. No restrictions or taxes when transferring money into, or out of the country (repatriation of capital) www.fs.com.uy Why Uruguay? Stability and Safety: Latin America’s safest country Tops rankings in political and economic stability Tops rankings in transparency and lack of corruption No social turmoil: existence of middle class and Latin America’s lowest income gap Solid legal system with strong reputation for respect of contracts and private property www.fs.com.uy What Uruguay Offers You Residency and Citizenship Banking Real Estate Farmland www.fs.com.uy RESIDENCY www.fs.com.uy Obtaining Uruguayan Residency Apply in one day It takes 12-18 months to become a resident After 3/5 years (since you applied for residency): citizenship & 2nd passport www.fs.com.uy Steps First, gather documents (abroad) Then, enter Uruguay, as a tourist Within 90 days submit the application at Once the request is submitted, you may stay in the country indefinitely, as a “temporary resident” www.fs.com.uy What documents do I need? 1.Birth certificate 2.Clean police record (U.S. citizens: obtained in Uruguay, at Interpol) 3.Proof of income 4.Marriage certificate (optional) www.fs.com.uy 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) www.fs.com.uy Requirement to reside in Uruguay? You must have an address (own or rent a place) And spend most of your time in Uruguay (you may come and go) www.fs.com.uy Benefits of Residency Stay in Uruguay indefinitely Get ID for different activities Bring household goods import duty-free Get the clock ticking for citizenship/2nd passport (from day one) www.fs.com.uy BANKING www.fs.com.uy 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 www.fs.com.uy 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 www.fs.com.uy Investing in Uruguay: Diversity of Choices Farms Forestry Offshore services Hotels Real Estate: Atlantic Real Estate: Colonia Real Estate: Montevideo www.fs.com.uy The Top Choice: Farmland Uruguay is a big farming country Agriculture, Wine Forestry, Cattle Options: Farms of any type Small farms to live in Farms www.fs.com.uy Advantages of Investing in Farmland Increasing global demand for food Consistent long-term appreciation Annual cash return Non-volatile asset Store of value www.fs.com.uy Why Farmland? “Would you rather own ALL the gold in the world or ALL the farmland . . . ?” (Warren Buffet, CNBC, March 2, 2011) “Farmland Is Where the Money Is” (Jim Rogers, August 10, 2011) www.fs.com.uy Why Farmland in Uruguay? A) Most suitable country B) Turnkey, easy investment to operate C) Transparent market www.fs.com.uy A) Uruguay’s Suitability Non-degraded soil Even rainfall year-round World’s largest aquifer beneath region Temperate climate Two crops per year (over long run, 1.7-1.8) Competitive producer No government intervention in the market Developed land rental market www.fs.com.uy MAPA DE CHRIS ACA ********** ******** Source: Atlas of the Biosphere Center for Sustainability and the Global Environment University of Wisconsin - Madison www.fs.com.uy Global soil degradation, and where Uruguay stands www.fs.com.uy Global water shortage and where Uruguay stands Source: Intergovernmental Panel on Climate Change, 2007 www.fs.com.uy B) Turnkey, Easy Investment The investor may farm the land directly… Or have a farm management company handle every aspect of the operation… Or lease out the land (there is a very liquid rental market for cropland) www.fs.com.uy C) Transparent Market for Land The country is mapped, with soil types classified according to their productivity Each type of soil is has a productivity index (“CONEAT” index) The map is available online Thus, land productivity is verifiable www.fs.com.uy The Online CONEAT System: Example Map of the property, with different soil types Location of the property Water resources Average CONEAT index for the property Property number www.fs.com.uy Real Estate: Montevideo www.fs.com.uy www.fs.com.uy The Cost of Land (per Hectare) USD 3,200 USD 2,700 USD 3,700 USD 5,500 USD 9,000 USD 8,000 USD 3,700 USD 10,000 www.fs.com.uy 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 (8,500/hect, 3,300/acre) Rental: 4% Run by owner: 4-12% Good appreciation potential www.fs.com.uy 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 www.fs.com.uy www.fs.com.uy www.fs.com.uy Remember: EASY TRANSPARENT SAFE www.fs.com.uy Contact information Juan Federico Fischer [email protected] Check our site for detailed presentations www.fs.com.uy www.fs.com.uy