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Ley de urgente consideración

Urgent Consideration Law – Leases: Special Regime

In April 2020, the Executive branch of government submitted a bill for urgent consideration (Ley de Urgente Consideración: "LUC") to Parliament, which after long and intensive negotiations which derived in several changes throughout the text, was finally passed by Parliament as Law Nº. 19.889, promulgated by the Executive Power on July 10, 2020 ("LUC") and published in the Official...

Tax Residence in Uruguay – Flexibility

We are pleased to write to you, in order to inform about recent developments regarding the processing of Tax Residence and Legal Residence in Uruguay, which may be of interest to you. On June 11, 2020, the Executive branch of government issued Decree No. 163/020, which made the requirements demanded of foreign persons interested in obtaining Fiscal Residence in...

Special temporary unemployment benefit scheme

Within the framework of the health emergency decreed by the Executive branch of government in the face of the Coronavirus pandemic (COVID-19), the Minister of Labor and Social Security issued today, March 18, 2020, Resolution 143/2020, which creates a Special Unemployment Subsidy Regime, for the following sectors of the activity: commerce in general; food retail trade; hotels, restaurants and...

BCU – CIRCULAR No. 2320/2019 – STOCK MARKET

On January 17, 2019, the Central Bank of Uruguay ("BCU") published Regulation (Circular) No. 2320/2019 on its Website, in which it modifies the Compilation of Securities Market Regulations ("RMMV"); creating a new category called Portfolio Manager and introducing new requirements for Investment Advisors and other regulated entities that intervene in the Stock Market.Below we detail the most relevant changes:a)...