Property for Sale in Uruguay
The process of buying property is kept simple by the Uruguayan Government; a foreigner has the same rights and incentives as a Uruguayan national.
Except for areas considered part of the national security domain, there are no restrictions on the ownership of private property or the establishment of any business. Corruption is not a serious problem in Uruguay.
Before the sale, four different non-encumbrance certificates must be presented as guarantee to the buyer. The first one from the "Banco de Provision Social" ascertains that the owner is free of any social security debt. The others are acquired at the Real Estate Office, the "Registro de Actos Personales", and the Municipality. There must be no transaction without these certificates. This process ensures that there is no pending mortgage, lien, or any other encumbrance on the property.
Punta del Este, 130km to the east of Montevideo, ranks up there with South America's premier holiday resorts attracting up to 700,000 visitors each year.
Prices in Uruguay are attractive for British property investors right now as the dollar is not at its strongest. There are no restrictions on transferring capital in and out of the country and there is no income tax or capital gains tax for individuals, only businesses.
