OFFSHORES

Setting up a company in Uruguay (offshore) has two main advantages:

• Total confidentiality with regards to the controller of the company
• No taxes to be collected in Uruguay

There isn’t, in Uruguay, the equivalent to the registration in a Chamber of Commerce, in the way that it is done in Brazil.
In this line of reasoning, a Uruguayan company (offshore) is bought, and with this company you can then be registered in the Inland Revenue in Brazil as a foreign company.

From this moment the company has a registration number (CNPJ) and both fiscal and legal status to engage in almost any business in Brazil, with only a very few exceptions.

With this company you may therefore purchase assets (real estate, cars, etc), use bank accounts, become a partner in other companies, etc.

From this perspective, the Uruguayan company has the aim of:

• Allowing the owner to remain legally under confidentiality and thus engage in businesses in Brazil
• Allowing for a legal partnership and taxing maneuvering, because when you are a partner in a company, when it is time for profits distribution, you may transfer gains to your headquarters without incurring on any taxes or duties

The purchase of Uruguayan companies is quick and free of paperwork. They are pre-established and sold through an “assembly” of shareholders at the moment of purchase, in such a way that the whole process can be done in 48 hours.

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