Uruguay Expat Forum

focus
Joined 2014
Posts: 244

9 years ago

Thinking of starting a business importing goods?

9 years ago

The idea of importing things to Uruguay has come up fairly frequently on this board and I've been curious myself about the subject so I just sat down with my next-door neighbour who is in the business to ask how difficult it is so I am sharing what he told me with you. Uruguay has a very organized and straightforward system regarding imports. What I took away from my meeting was that you will have to start with two relationships - an accountant and a despachante (import broker). The accountant really has nothing to do with importing but is recommended because you will have to have your own company firstt. Starting a business is not difficult in Uruguay but like any country paperwork and tax obligations are associated with it. The tax obligations are a bit trickier here than what you would be used to and for that reason I would start with an accountant who can explain fully what the obligations are and what you can do to mitigate the costs involved with complying. The cheapest form of business is the unipersonal which would be the closest thing to a proprietorship that North Americans would be familiar with. You do not have to be a resident to open any type of business. The despachante is the other relationship that you must foster as they will be the ones who act as agent and make sure everything goes smoothly. There are numerous taxes that are involved, both duties and VAT, and lots of paperwork involving declarations of the type of goods entering etc. In Uruguay, FYI, serious infractions involving customs involve jail time so it's not something to take lightly. The despachante can also advise regarding freight but you are free to use whichever shipping company you like if you want to get multiple quotes. If you intend to reside in Uruguay and bring your personal belongings that will be your first relationship with a despachante. The costs involved with importing as a rule of thumb are probably about 50% of the cost of the goods. Up front, the number is actually a little over 100% but of those costs the VAT portion will be reimbursed when you sell your products. Not speaking spanish will, of course, complicate matters but it seems to me a guy like Carlitos would probably be happy to accompany you to the meetings with these professionals so that you can make the relationships and understand fully what your obligations are. My neighbour gave me the name of the despachante that he uses but since I haven't spoken with them I'd rather not mention their name publically. If anyone is truly interested just pass me a PM and I'll forward it to you. Hope this is of interest.

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Help others in Uruguay by answering questions about the challenges and adventures of living in Uruguay.