Table of Contents

TABLE OF CONTENTS

I. FORMS OF BUSINESS ENTITIES

            I.I. Corporations

1. Organization
2. Directors and Board of Directors
3. Shareholders and Shareholders’ Meetings
4. Corporate Name
5. Capital
6. Control
7. Dividends
8. Foreign Companies as Shareholders

I.II. Branch

I.III. Limited Liability Partnerships

II. BRIEF DESCRIPTION OF MOST RELEVANT TAXES

            II.I. Income Tax

            II.I.I. Corporate Income Tax

            II.I.II. Personal Income Tax

II.I.III. Non-Residents Income Tax

            II.II. Net Equity Tax

            II.III. Value Added Tax

            II.IV. Corporations Control Tax

            II.V. Specific Internal Tax

III. URUGUAYAN FREE ZONES

            III.I. Introduction

            III.II. Free Zones Users

            III.III. Tax Treatment

            III.IV. Restrictions

IV. OFFSHORE CORPORATIONS

            IV.I. Introduction

            IV.II. Incorporation

            IV.III. Shareholders

            IV.IV. Board of Directors

            IV.V. Audit Requirements

            IV.VI. Activities

            IV.VII. Taxation

V. ANTI-TRUST LAW

            V.I. General Constitutional Provisions

            V.II. Antitrust Legal Provisions in Uruguay

1. Introduction         
2. Prohibited Conducts
3. Sanctions
4. The Concept of Relevant Market

V.III. International Treaties: MERCOSUR Antitrust Provisions

VI. CONSUMER PROTECTION

            VI.I. Introduction

            VI.II. Concept of Consumer Relationship

            VI.III. Consumers’ rights      

            VI.IV. Offering Conditions

1. General Principles
2. Labeling Requirements
3. Information About Services
4. Advertising
5. Liabilities
6. Violations of the Act

VII. INSURANCE

VIII. TELECOMMUNICATIONS

IX. LABOR LAW

            IX.I. Minimum Salary

            IX.II. Working Hours

            IX.III. Vacations

            IX.IV. Thirteenth Salary

            IX.V. Termination of Employment

X. SOCIAL SECURITY

            X.I. Relevant Institutions

1. Social Security Administration
2. Administrators of Social Security Saving Funds

X.II. Contributions

1. Contribution for Retirement Payments
2. Contribution for Health Insurance
3. Individuals Income Tax
4. Labor Reconversion Fund

X.III. Exceptions

1. Non taxable compensations

X.IV. Independent Workers

X.V. Benefits

1. Retirement Payments
2. Unemployment Insurance
3. Health Insurance

X.VI. Labor Accidents Insurance

X.VII. Bilateral Social Security Agreements

XI. IMMIGRATION PROCEEDINGS

            XI.I. Visa Requirements and Procedures

1. Employment and Work Permits
2. The Rights of the Foreign Workers Family
3. Ownership of Property
4. Taxation of Foreign Business Visitors

XII. ENVIRONMENTAL LAW

            XII.I. Introduction

            XII.II. General Legal Framework

1. Constitutional Provisions
2. National Legislative Framework

(a)    Environmental Act Protection

(b)   The Environmental Impact Law

(c)    Special Regulations

(d)   International Treaty Framework

XII.III. Protected Areas

XII.IV. Liability and Administrative Sanctions

XII.V. Tax Benefits

XIII. INDUSTRIAL AND INTELLECTUAL PROPERTY

            XIII.I. Introduction

            XIII.II. Trademarks

            XII.III. Invention Patents, Utility Models and Industrial Designs

1. Invention Patents
2. Utility Models
3. Industrial Designs

XIII.IV. Copyrights

XIV. FOREIGN TRADE

            XIV.I. Introduction

            XIV.II. Imports

            XIV.III. Antidumping Provisions

            XIV.IV. Applicable Tariffs

            XIV.V. Exports

            XIV.VI. The Temporary Admission Regime

XV. MINING LAW

XVI. BANKING

XVII. CAPITAL MARKETS

            XVII.I. Public and Private Offerings

1. Registration Requirements
2. Debt Instruments

XVII.II. Investment Funds

XVIII. INVESTMENTS PROMOTION

            XVIII.I. Introduction

            XVIII.II. Tax Benefits

            XVIII.III. Special Incentives

XIX. AGENCY AND DISTRIBUTION AGREEMENTS

XX. TOURISM

XXI. AERONAUTICAL LAW

XXI.I Introduction

            XXI.II. Temporary Registration

            XXI.III. Cancellation of Registration

XXII. MONEY LAUNDERING AND TERRORISM FINANCING PREVENTION

XXIII. TRUSTS

            XXIII.I. Introduction

            XXIII.II. Parties

            XXIII.III. Trust Property

            XXIII.IV. Trust Functioning

            XXIII.V. Finalization

            XXIII.VI. Types of Trusts

            XXIII.VII. Tax Regulations