STEP

Title Research

Uruguay

The Oriental Republic of Uruguay, which gained independence from Spain in 1825, is located on the Atlantic coast of southern South America, between Argentina and Brazil. The capital city is Montevideo. The country’s population is 3.3 million.

STEP South America branch page

Related Articles

No jurisdiction news article found.

1. Introduction

a. History and background

The Oriental Republic of Uruguay, which gained independence from Spain in 1825, is located on the Atlantic coast of southern South America, between Argentina and Brazil. The capital city is Montevideo. The country’s population is 3.3 million.

Uruguay is a founding member of Mercosur (a regional trade agreement between Brazil, Argentina, Uruguay and Paraguay) and, until 2008, was the home of Mercosur’s headquarters.

Uruguay is an international financial centre, offering structuring of investments and trade, both within the region and internationally. Its financial sector and capital market provide funding for trade and investments within the region. It has a stable democratic political environment and liberal financial market and fiscal regime. The Central Bank of Uruguay regulates and supervises 14 domestic banks owned by international banking groups, six offshore banks and six financial institutions with non-banking licences.

Uruguay’s economy is characterised by an export-oriented agricultural sector, well-educated workforce, relatively even income distribution and high levels of social spending. GDP per capita is USD10,700 (2006 estimate).

The currency is the Uruguayan new peso (UYU). (USD1 = UYU23)

b. Legal system

The country’s legal system is based on civil law.

Editorial board
Fernando Elias TEP
The Winterbotham Trust Company (Uruguay) SA, Montevideo, Uruguay
Carmen Forcella TEP
Winterbotham Fiduciaria SA, Montevideo, Uruguay
Ivan Hooper TEP
Winterbotham Fiduciaria SA, Montevideo, Uruguay

Advert

Article Search

© 2011 Society of Trust & Estate Practitioners