Living in Uruguay Is an Investor’s Dream
Lush tropical palms, pristine beaches, and a relaxed way of life are something most of us dream of as a perfect place to play or retire, and living in Uruguay could be the dream come true. Uruguay is the most economically developed country in South America with a high gross domestic product based on agriculture. The growth in tourism has placed Uruguay as one of the most preferred places to visit and live and has propelled the country to be the highest rated country in Latin America on Legatum’s 2010 Prosperity Index.
A favorite of investors, Uruguay has a stable democratic government and its primary bank, Nuevo Banco Commercial and loan bank, Pronto, has recently been bought by Canadian-based Scotia Bank. With little crime and corruption, its military is reimbursed by the UN, since it is deployed by the UN as Peacekeepers. There are many tax advantages to foreign investors, and only income generated within the country is taxed. The city of Chuy is tax-free and is a shopping mecca.
Uruguay is Growing as a Popular Vacation Destination
It is the sudden popularity of the beaches that has contributed to the amazing growth of destination resorts and condominiums. People from all parts of the world have found that ownership in condos and timeshares are a lucrative income when rented out. Others enjoy the country so much that they have decided to retire there and can live very comfortably on their retirement incomes, since the cost of living is so much cheaper.
Geographically, Uruguay is a very flat land with the tallest mountain being only 400 meters high. Sugar Loaf Mountain is a popular hiking attraction although there is a road that can take you to the top for an amazing vista of the coastline. Standing at the summit you will see a great cross that is 35 meters tall. Built in 1933 of concrete, it is one of the imposing sights of the area.
The country can be divided into three corridors: the interior, or Littoral, the Central District, and the Beaches. Most of the development is, of course, along the beaches, where Uruguay’s white sand and crystal azure waters have made the country a favorite escape for millions of tourists annually. The climate is always warm and comfortable with ocean breezes.
The Uruguayan Lifestyle
The people of Uruguay are Spanish speaking and early settlers were from Spain, Italy, and Portugal. Education is important and it was the first country in the world to provide laptop computers to all of its students along with wireless Internet.
With plenty of things to see, do, and enjoy, Uruguay draws tourists and expatriates to return and stay in a country that is emerging as a destination for those who wish to savor the relaxed lifestyle that Uruguayans are known for. The untouched beauty of the interior, the modern amenities of the cities, and the congeniality of the citizens make Uruguay a wonderful place to visit or live permanently.