Buy any property in Uruguay.
Uruguay has become today a stable country, solid in economic and political matters, which qualifies perfectly as a great location, either for investment, permanent residence or even for owning a summer property. If we compare it with the possibilities offered by other countries, Uruguay does not only have the best beaches, peacefulness and interesting opportunities, but it also offers great benefits for foreigners.
Moreover, if we focus on Punta del Este and with the trend of recent years, we dare to say that it is even a very good investment, for its possible rent in high season or its appreciation over time.
In SORSAP international, we have enough experience over time that allows us to advise where and what property to buy according to customer requests. Our team handles a wide variety of languages that allows us to have the right dialogue with the customer's needs. We focus on the personal relationship with every client and we face it with total seriousness to achieve what is proposed to us, always putting in front the values of the company: humility, transparency and good predisposition.
The Uruguayan government is very open to receive foreigners, so much so that we have a system of benefits to encourage the purchase of foreigners in the country. For this is key to have an agent who is licensed and also knows the subject.
Cost to be paid when buying a property.
· Real Estate Agent fee or commission: 3% of the total value plus VAT.
· Notary fees: normally around 3% but if we work with our in-house teams, we can reduce this cost by half.
· Stamp Duties or know in Uruguay as Montepios: 0,55%.
· Tax Certificate: USD 600 aprox.
· Real Estate transfer fee or known as ITP usually represents something like a 0,60%.
Buying a house does not start with an offer.
At Sorsap International we also take care of handling everything needed prior to the acquisition of any property. This ranges from handling the flight and accommodation advice to the recommendation of suitable restaurants, among other things. We even have a network of contacts to provide knowledge, such as architects, construction companies, etc.
So, Why Uruguay?
· It is the safest country in Latin America and the most developed at the present time, especially in the area of Punta del Este and Colonia del Sacramento.
· Political and financial stability, with governments that are rarely corrupt.
· Very well represented in international politics, with good relations with China and the United States.
· Highly recognized in Mercosur. Very good education system, which produces the best professionals worldwide, at primary, high school and university levels.
· Excellent health system.
· Very balanced climate, without extremes and very settled.
· Very good architecture, historically and well cared over time.
· It has the best landscapes in the world, from beaches along the coast to grasslands where you can develop rural activities
There are no restrictions to buy property as a foreigner in Uruguay, the only thing you need is a passport and proof of where your funds come from. Residency is not required unless the stay is longer than 180 days, even so you can easily get residency.
The purchase process is quite simple, an offer is made, after the offer is accepted a reservation ticket is signed with the corresponding notary and the clauses that are determined. Once accepted, a 10% of the total amount is paid as a deposit. Then, approximately 30 days are given for the notaries of both parties to communicate and check that all the papers are in date and with no problems. Once this is corroborated, the final purchase is signed and the balance is paid.
For more information please look at: https://www.guruguay.com/