Retire in Safe and Inexpensive Country

With the rapidly approaching tsunami of retiring baby boomers (over 80 million in USA and Canada alone), many who can't afford to retire in USA, Canada or Western Europe are planning to move South, mainly to Central and South American countries. They require safe environment, modern and inexpensive health care as well as standard of living they are used to, among other factors.

Several of those retirement destinations perfectly meet the requirements of baby boomers, each country is unique with it's own flavor and advantages, each fits different taste and expectations.

Uruguay

Obtaining Uruguayan residency is a simple, although bureaucratic process and requires strict preparation and legalization of documents. Residency applicants must prove that they have an income stream of at least US$850 per month. There are many options to prove this - most popular are:

    • Pension from abroad;

    • Mutual Fund or Retirement Fund income;

    • Rental income from property abroad or in Uruguay;

    • Dividends;

    • Work contract in Uruguay;


Applicants must pass medical and criminal checks - no criminal record certificates from the country of birth and all countries of residence for past 5 years are required.

Application should be filed at the Immigration Office in Uruguay. Once the application is filed the applicant may obtain temporary cédula (resident card) and remain in the country as a temporary resident.

Please contact us for more details.



Strict banking secrecy and tax secrecy laws, solid legal system with strong reputation for respect of contracts and private property, independent and reputable judicial system, almost non-existent corruption (at par with countries like France and USA), constitutional guarantees for private property rights, no restrictions for property ownership by foreigners, no currency transfer controls, no taxes on money transfers out of and into the country - all those factors make Uruguay a safe place for business and an investor friendly country.

For most expatriates Uruguay offers a higher quality of life with a sharply reduced price tag. Uruguay with its old-world theaters and opera houses, its jazz festivals and exquisite restaurants, looks and feels like Europe, but the cost of living is more like in the third world. The prices are low, but the infrastructure is first rate. You can drink the water from any tap in the country. Health care is excellent too. Great beaches of Montevideo and Punta del Este are popular tourist destinations. Uruguay is one of the most diverse, affordable, and sophisticated countries in the region.

An interesting article by Veronica Psetizki / BBC News - Uruguay: South America's best-kept secret?



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