The Southeastern region of South America brings us the Oriental Republic of Uruguay. This country is known for its culture, climate, the great city of Montevideo, and its free-market economy. It had GDP growth exceeded 8% in 2010, and in 2017 it was at the amount of $78.16 billion.
Disclaimer: Be aware that this article is not a substitute for legal advice. Please always check official websites or seek legal advice before you take action.
Sole Proprietorship in Uruguay
The 'Unipersonal' has just one person in-charged that both establishes and runs the business. This business structure has multiple benefits: it is easy to create, the healthcare of the owner is included in tax payments, and it can have no employees or many of them. Also, if you are willing to collect all the business' profit, the sole proprietorship is the way to go. The following article will help you with the needed information for registering with the authorities.
How to register a sole proprietorship
To register as a sole proprietor, the only needed document is your national ID, and it does not have any additional costs. The primary thing is to register at the Tax Administration. You can do the procedure online or in-person at the Registry of Taxpayers and Companies. While applying, you will need to attach the following documentation:
- Two copies of your ID
- Notary certificate and two copies
The notary certificate must state the following:
- Signature of the holder
- Owner data: Name must be established
- Identification document
- Marital status
- Legal capacity
- Home address
- Tax domicile specifying between which streets it is located. This address corresponds to the place where the activity the business takes place