Benefits
of the Free Zone Law
The Free Zones Law (Law 15.921) passed on the 17th of December 1987, declares of national interest the promotion and development of the Free Zones in Uruguay, while establishing the guidelines for their development under the protection of important tax benefits.
It has three main objectives: to promote investment, to generate jobs and to increase exports.
The validity of more than three decades of the Law, demonstrates stability and political consensus at a national level and it should be noted that the Free Zones are today an important engine of the economy.
Characteristics
of the Law
Legal stability
The State guarantees under its responsibility all the benefits of the Free Zone Law during the term of the contract signed with WTC Montevideo Free Zone.
Tax
Exemption from all national taxes, including those to be created in the future. Income Tax, Dividend Distribution, Equity, and no withholdings are made to payments abroad (services, royalties), among others.
When importing Goods
Goods entered into WTC Montevideo Free Zone will be exempt from all types of customs surcharge.
To Foreigners
Foreign employees may choose not to contribute to Uruguay's Social Security Regime and pay only a 12% Fixed Rate on their Salary.
For movement of capitals
Asset transactions with the outside are not limited.
Other benefits
It allows to provide the same services that are exported to companies in Uruguay. In addition to hiring up to 25% of Foreign Personnel being able to extend up to 50% upon request.
WTC Montevideo Free Zone has made a commitment to collaborate with the Free Zone Area in the proper compliance with the rules and the best functioning of the Free Zone Regime. In this sense, our team will guide you in determining whether the activity to be carried out by your company is achieved by the benefits of this regime. It allows to provide the same services that are exported to companies in Uruguay. In addition to hiring up to 25% of Foreign Personnel being able to extend up to 50% upon request. Law 15.921.