Property Investor information: Uruguay
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Property Investor information for: Uruguay
Compared with its gigantic South American neighbors, Argentina and Brazil, Uruguay may lack size, dramatic landscapes, and cultural and natural diversity. Still, it's found a niche on the international tourist circuit with its beaches -- inundated by Argentine celebrities and fashion shows in the summer months of January and February. Uruguay also has subtler attractions such as the 17th-century colonial town of Colonia del Sacramento and the underrated capital city of Montevideo. Its rolling interior, dotted with estancias (cattle ranches), many of which house guests in stylish comfort, is still gaucho country.
Uruguay's people, almost entirely of Spanish and Italian ancestry, are unique in South America in that they are mostly middle class -- there aren't the extremes of wealth and poverty that plague much of the rest of the South American continent (a legacy of the country's progressive social services). As a result, the nation enjoys a relatively high standard of living and literacy
There are some distinct advtantages to investment in Uruguay property and land which include:
- No personal capital taxes
- Income from rents is tax-exempt
- Landregistering is safe and optimal
- Land tax is only 2% of the land register value
- No problems with residential permits
- Foreigners may buy or sell whatever they want
- Capital and currenciy transfers to abroad are unrestricted
- Banking secrecy is absolutely respected and guaranteed by law
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