It is crucial to have good legal representation in Uruguay for those who plan on launching businesses or are already present there. Uruguay’s legal team will exert a significant influence on the operations of your company. It is crucial to ensure compliance with all local laws and offer ongoing advice.
If you are planning on hiring staff through a professional employer organization (PEO) — which will hire staff on your behalf — you will be able to count on your PEO in UruguayProviding legal assistance and ensuring compliance with all regulations.
Located in the southeast of South America and bordered by Brazil and Argentina — Latin America’s largest and third-largest economies by gross domestic product (GDP) — Uruguay is sometimes referred to as “the Switzerland of Latin America” due to its strong rule of law and extremely private banking system.
Uruguay’s years of steady growth have been attributed to political stability and social stability. The country reached a record $64.52 trillion in 2018, its highest GDP ever. The World Bank saw an increase in its GDP in 2019 but it declined slightly in 2020, which was due to the worldwide COVID-19 pandemic. predicted that GDP growth will hit 3.4%Nearly reversing the loss from last year by 2021
These factors make Uruguay one of the most prosperous and developed countries in Latin America. Uruguay has a GDP (gross national income) of $158,830 per person (all figures are in USD), making it a nation with high international income.
Uruguay, a member of the founding group of The United Nations, is known for being a major hub of commerce and promoters of free trade. the Southern Common Market — a 30-year-old economic associationThis includes Argentina, Brazil and Paraguay. Bolivia, however, is still awaiting official acceptance.
You may be interested in doing business on this vast market. Read on to learn more about the type of legal assistance that your Uruguayan law firm can provide, and what areas it covers.
Oder, you can go ahead contact us nowTo discuss the possibilities of supporting your company with Uruguayan legal services, and other back-office support services.
What can your Uruguayan legal service provider offer you?
Providers of Uruguayan legal services should be capable to offer the following:
Guaranteed compliance:The Uruguayan legal firms will review and monitor your compliance, and provide ongoing advice on ways to ensure that you comply with all applicable regulations. This will maintain your standing among local authorities.
Bilingual assistance: If you are not proficient in Spanish — the official language in Uruguay — you will need to receive legal services in Uruguay from a provider that is proficient in a language you do know, be that English or any other.
Representative legal:Uruguayan legal professionals will assist you by providing ongoing representation before authorities and signing documents in your name.
Connections to the local area:Because your Uruguayan company is already established, you can expect strong relationships with local businesses and communities. These connections could potentially be very beneficial for your business in the long-term.
Your corporate law firm may be able to cover certain areas of Uruguayan law
The following are areas where your Uruguayan law firm should be capable of assisting you:
Corporate law:Uruguay’s legal service provider will be first and foremost able to assist you with all aspects of corporate law. This includes assisting in the formation and documentation of legal entities, as well as drafting legal documents and contracts. protection of your intellectual property
Labor law:A Uruguayan corporate lawyer firm will help you comply with labor laws, such as enforcing good working conditions and timely payments of wages.
Commercial lawIf you are involved with the export or import of goods and need legal assistance in Uruguay, then your Uruguayan provider will be able provide current commercial law advice.
Laws governing tax:Uruguayan law firms will help you to manage your taxes and devise a tax-planning strategy that will ensure compliance with Uruguayan tax law.
Mining lawYou will need to hire a Uruguayan legal service provider if you plan to work in the extractive sector. They should have experience in mining law.
Law on Cannabis: Should you be planning to enter the cannabis industry — which has developed significantly since Uruguay became the first country in the world to legalize the substance for recreational use — you will need to hire a legal firm with a strong understanding of the relevant legislation.
Biz Latin Hub will support you in Uruguay
Biz Latin Hub is home to a multilingual team. corporate law expertsUruguayan lawyers are available for you.
Our professional services include a wide range of support options, such as company formation, accounting & taxation, hiring & PEOWe offer custom packages with integrated back-office services that can be tailored to meet every customer’s needs.
Our teams are also present in 15 additional markets in Latin America and Caribbean. We have trusted partners who expand our reach to nearly every corner of the area. And we specialise in market entry in multiple jurisdictions.
Contact us todayFind out how we can help you do business in Uruguay.
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