Upload
others
View
0
Download
0
Embed Size (px)
Citation preview
www.fs.com.uy
Uruguay:
a Favorite for Investing,
Banking & Residency
Panama
September 2011
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?
Latin America's safest country
Politically stable, solid democracy
No large social differences, blend-in
Excellent, affordable, health care
Corruption not an issue
www.fs.com.uy
Why Uruguay?
Great infrastructure
Free entrance and exit of capital
No inheritance tax
Banking secrecy, solid banking system
Safe, solid, investment options
www.fs.com.uy
What does Uruguay have to offer?
A. Residency: a safe, stable option
B. Second home/summer home
C. Banking
D. Investing:- real estate
- farmland
www.fs.com.uy
RESIDENCY
www.fs.com.uy
Obtaining Uruguayan Residency
Apply in one day
It takes 10-12 months to become a resident
After 3/5 years: citizenship & 2nd passport
www.fs.com.uy
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”
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 (USD 500 / month)
4.Marriage certificate *
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
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
www.fs.com.uy
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)
www.fs.com.uy
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
www.fs.com.uy
Tips on Residency
# 1: Send your immigration lawyer
copies of the documents you intend to
submit, before travelling, so they can
be verified
www.fs.com.uy
Tips on Residency
# 2: Send your immigration lawyer and
customs agent the list of belongings you
plan to bring, previously
www.fs.com.uy
Tips on Residency
# 3:Open a bank account in Uruguay
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
www.fs.com.uy
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.).
www.fs.com.uy
Investing in Uruguay: Diversity of Choices
Farms
Offshore
services
Forestry
Toursism &
hotels
Exports
Real Estate:
Atlantic
coast
Logistics
Real Estate:
Colonia
Real Estate: Montevideo
www.fs.com.uy
Farmland
Farms
Uruguay is a big farming
country
Agriculture, Wine
Forestry, Cattle
Options:
Farms of any type
Small farms to live in
www.fs.com.uy
Advantages of farmland
Global demand for food, increasing trend
Consistent long-term appreciation
Annual cash return
Non-volatile asset
Store of value
www.fs.com.uy
Why farmland in Uruguay?
Most suitable country
Turnkey, easy
Transparent market
www.fs.com.uy
Why farmland in Uruguay?
MAPA DE
CHRIS ACA
**********
********
Source: Atlas of the Biosphere
Center for Sutainabitity and the Gtobal Environment
Universitv of Wiscornin - Madbon
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
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
www.fs.com.uy
Farmland: the “Coneat” Productivity Index
www.fs.com.uy
Real Estate: Montevideo
www.fs.com.uy
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
(7,300/hect, 2,920/acre)
Rental: 3.5 - 4%
Run by owner: 6-12%
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
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
www.fs.com.uy 43
Real Estate: Eastern Shore (Rocha)
www.fs.com.uy 44
www.fs.com.uy
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
www.fs.com.uy
www.fs.com.uy
Montevideo
Montevideo
Uruguay’s capital: 1.5 M
Main schools, hospitals,
cultural life
Options:
Shoreline condos
Buildings in Old City
Large homes in
residential areas
www.fs.com.uy
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
www.fs.com.uy
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
www.fs.com.uy 50
www.fs.com.uy
FOTO VILLA BIARRITZ, RAMBLA
www.fs.com.uy
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
www.fs.com.uy
www.fs.com.uy
www.fs.com.uy
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
www.fs.com.uy
www.fs.com.uy 57
Real Estate: Punta del Este
www.fs.com.uy 58
Real Estate: Punta del Este
www.fs.com.uy
Punta del Este:
shoreline condo
Example # 7: 16th Fl.
1300 sq.ft
2 blocks: downtown
3 br, 2 bath
Ask price: USD 260,000
Condo fees:
Rental: summer, 4%
Moderate appreciation
potential
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