Newsletters/Corporate

COVID-19 Practical Legal Guide

With the aim of providing clear and concise responses, Bergstein has prepared a practical legal guide with most frequently asked questions about COVID-19. The guide discusses hot topics on employment law, contracts and taxations.

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Uruguay International Bid – Containers Terminal – Montevideo Port

Uruguay’s Port Administration has approved an international bid for the concession of two container terminals in Montevideo´s port. The two terminals would cover an area of 9,000 square meters. The concession would be given for five years. Services to be concessioned are: storage of containers, goods and refrigeration services. The concessionaire would be entitled to propose (subject to the Administration approval), other related services which could be demanded by carriers and/or port operators. The bidding terms are yet to be formally approved, so that any interested companies are just on time to get involved in the project. ______________________ The above communication has been prepared just for information purposes. It cannot be construed as legal advice provided by Bergstein Abogados. Should you have any further questions, please feel free to contact Leonardo Melos (lmelos@bergsteinlaw.com).

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Transfer of Domicile to Uruguay: The Revival of Uruguayan Companies

Once again, Uruguayan-based companies have become a valid option as a vehicle to establish a platform for offshore business. Several reasons explain the recent trend: the substance of Uruguayan companies with their mandatory book-keeping and the many public controls they are subject to; the heavy bureaucracy and paperwork behind a Uruguayan Sociedad Anónima; the full alignment of Uruguay´s tax system with the OECD standards (including an ample network of double taxation and exchange of information tax treaties –Uruguay is a member of the OECD Fiscal Affairs Committee); and Uruguay´s strict adherence to the territoriality tax principle under which foreign-sourced corporate income remains untaxed. In that context, an Executive Branch Decree dated 3 April 2017, has facilitated the re-domiciliation of foreign companies to Uruguay. The Decree has substantially abbreviated the procedures: re-domiciliation proceedings will be completed within a maximum of six months. The re-domiciliation application (to qualify for the abridged procedure) must be filed by 30 June 2017. ______________________ The above communication has been prepared just for information purposes. It cannot be construed as legal advice provided by Bergstein Abogados. Should you have any further questions, please feel free to contact Vanessa Corvini (vcorvini@bergsteinlaw.com) and/or Analía Fernández (afernandez@bergstienlaw.com).

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