Uruguay is the most reliable country to do business in one of the most economically attractive regions in the world. This together with Uruguay’s skilled labor force, strategic location, outstanding tax incentives, and enjoyable lifestyle have made Uruguay an attractive location for multinational companies to set up their regional business centers, to optimize their business processes specially within Latin America. These regional business centers include one or a combination of the following operations:
|Regional Headquarter – Shared Service Centers||Business Delivery Centers (BPO-KPO)||IT Centers*|
|Trading Centers||Regional Distribution Centers||R&D Centers**|
These centers provide support services to the global company’s core business through activities such as foreign trade, supply chain, finance and accounting, human resources, contract management, contact centers, and IT development and/or support.
Regional Business Services in Uruguay
Uruguay’s Value Proposition:
Uruguay offers a favorable business climate with social and political stability (“projects continue independently of the Governments in power”); it has investment grade according to the main risk ratings entities and a sustained growth of its GDP during the last 10 years. Investors can access to world – class facilities (i.e. fastest LATAM´s internet download and upload speed), in an environment that guarantees an excellent life quality for executives and its families.
An attractive tax regime for operations focuses on foreign trade together with the availability of qualified and multilingual talent (Spanish, English, Portuguese) at competitive costs are some of the attributes of this small and orderly country. In the same way, in Uruguay there is no discrimination between local and foreign investments, there are no restrictions on capital or profit repatriation and it is possible to operate whether in national or foreign currency.
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Market & Nearshore
Given the country's location, language, business history, shared culture and trade agreements, Uruguay is an excellent platform to access markets such as Brazil and Spanish-speaking countries.
Uruguay is positioned as a regional logistics hub due to its proximity to the wealthiest areas in South America. The country´s free zones, free ports and airport, and bonded warehouses are ideal places to set up distribution centers to supply goods to the Latin American region.
As a MERCOSUR member and its Free Trade Agreement with Mexico, Uruguay has access to a market of 398 million people, which represents 76% of Latin America´s GDP.
Moreover, Uruguay´s cultural affinity with Europe and North America, similar time zone, and excellent telecommunications infrastructure make the country an ideal nearshore location with those markets.
Human Resources in Uruguay are highly competitive due to a combination of several factors, including the high quality of basic, technical and University education and the flexibility and ease of Uruguayan workers to adapt to new production processes or technologies. The Uruguayan workforce has been showing a steady increase in its ability to master other languages, in particular English and Portuguese.
Uruguay has the highest literacy rate in Latin America: 98%. Free public education is provided from kindergarten through University. 6% of the country's GDP is invested in education and 100% of high school students at the age of 15 have already completed at least three years of English and two years of computer science.
The potential of access to talent is complemented by the easiness to getting residence for professionals coming from other MERCOSUR countries (Argentina, Brazil, Paraguay and Venezuela), as well as from any other country in the world with a fast track system for foreign employees who will work in Business Services companies. This is the result of the government’s commitment to support the growth of the global services industry in the country.
Finishing Schools and Smart Talent
In addition, through the FINISHING SCHOOLS Program, Uruguay subsidies up to 70% of job training costs in the specific skills required by companies to establish or expand export operations. Following this further, Uruguay offers SMART TALENT, a website for job opportunities focused on global services that offers tests to measure the knowledge of the registered candidates. Companies can post their job vacancies and have access to tested profiles without any charge.
Uruguay´s capital city of Montevideo (1.3 million inhabitants), Punta del Este and other cities offer excellent living conditions for executives and their families, including quality free health services and education. More and more foreigners are choosing Uruguay as their place of residence for all or part of the year.
Uruguay ranks as one of the safest countries in Latin America on the Latin Security Index, developed by FTI Consulting for Latin Business Chronicle. The index measures security for multinational executives.Please click here to view more information.