How To Obtain Tax Residency In Uruguay A Guide For High Net Worth Individuals
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Discover the differences between tax residency and legal residency in Uruguay. Learn about the various paths to secure tax residency, the benefits, and why high net worth individuals worldwide are drawn to Uruguay's competitive tax program.
- Tax residency in Uruguay is distinct from legal residency and is primarily sought by high net worth individuals.
- Uruguay offers a variety of paths to obtain tax residency, including a new option of investing $400,000 in real estate and spending 60 days in the country.
- The main incentive for obtaining tax residency in Uruguay is the generous treatment of foreign income, including a 10-year tax holiday and minimal taxation after that.
- This program is available to individuals worldwide, with some exceptions for countries like the United States that tax their citizens' global income.
- Uruguay's government aims to attract people from around the world with its competitive tax residency program, similar to Portugal's Golden Visa.
In this interview, Juan Federico Fischer, the managing partner at Andersen, a top law firm in Uruguay, discusses tax residency in Uruguay and clears up common misconceptions between tax residency and legal residency. Tax residency in Uruguay is highly sought after by high net worth individuals, and this article provides insights into the requirements, benefits, and the government's intentions behind the tax residency program.
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