Not so long ago Latin America was not considered as a perfect place for real estate investment. Luckily, it is now and this opportunity is one of the best.
According to the global investment expers, this region has become one of the most beneficial in the history of real estate invesment. Stable political, economic and live-condition growth has provided several countries in Latin America with enormous potential for construction sector development. This, in its turn, has resulted in a construction and investment boom. Uruguay has become one of the most popular places for tourists and investors because of its comfort, mild cliemate and political stability with extremely beautiful landscape.
After gaining independence Uruguay, as many other Latin American countries, has passed through a series of political conflicts. But now the state is an example of stability and prosperity. According to the Center for Anti-Corruption Research and Initiative Transparency International, Uruguay is one of the least corrupt countries in the world (it ranks second after Chile). Labor laws of the country are extremely beneficial for business. Tourism, agriculture and the public sector are the three pillars of the economy of Uruguay.
In favor of the acquisition of real estate in this country the following factors can be considered: the low crime rate and transparent legislation and, according to Dr. Juan Federico Fischer, managing partner of LVM Attorneys at Law, a company providing services to foreigners moving and buying real estate in Uruguay, the country has unconditional respect for the right of private property.
Moreover, financial system is extremely stable in Uruguay. According to LVM Attorneys at Law representative, the funds transferred to the country do not even need to be converted into local currency. In practice, all real estate transactions in the country are paid in dollars or euros. Also, there is no time limit on the withdrawal from the country and income taxes for non-residents, says Juan Fischer.
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