Sunday, January 29, 2023
No Result
View All Result
Gypsy Online | A Traveler's Guide to Life
  • Home
  • Lifestyle
  • Art & Photos
  • Travel
  • Contact Us
  • Home
  • Lifestyle
  • Art & Photos
  • Travel
  • Contact Us
No Result
View All Result
No Result
View All Result
Gypsy Online | A Traveler's Guide to Life
Home Travel South America Uruguay Immigration

How to Purchase Property in Uruguay

Claudia Z by Claudia Z
July 11, 2019
0 0
0
How to Purchase Property in Uruguay

When it comes to purchasing property in Uruguay there are no restrictions for foreign buyers. You can buy land anywhere and you can do so as an individual or a corporation.

The purchase process requires the assistance of by an “Escribano/a” (a conveyancing attorney),.

The Role of the Escribana/o is as follows:

  1. Analyses the ownership history and other details to ensure you are buying a property without debt. 
  2. Drafts the Offer to Purchase Agreement and the Final Purchase Documents.
  3. Acts as an Escrow agent for the deposit payable on the property.
  4. Recording the purchase at the Property Registry and Proof of Ownership (Title Deeds and Deeds Registry)

The Purchase Process: Step by Step

  1. The buyer selects a property, agrees on the price with the seller.
  2. The buyer appoints an Escribana/o who will draft the “Boleto de Reserva”, (Offer to Purchase).
  3. Agreement must be reached with regards to the deposit. payable.Usually 10% of the price but depending on the circumstances other agreements may be negotiated.
  4. The deposit remains in safe keeping with the Escribano/a and is only handed to the seller once the deal is concluded.
  5. Both the buyer and the seller will sign the Boleto de Reserva”, (Offer to Purchase)
  6. A penalty clause must be included in this document in case either party breaches the commitment. The amount must be agreed upon by the buyer and seller.
  7. A 30-60 day window is allowed to verify the deeds.
  8. A closing date is set on which the final Purchase documents will be signed, the full price is paid and the property is transferred to you.

Transaction Costs

The total transaction (transfer fees payable are approximately 8-9%:

1. .Real Estate Agent Fee: 3% plus VAT (22%) = 3.66%

2.  Conveyance Attorney Fee: 3% plus VAT (22%) = 3.66%

3.  Deed Registration Stamp Duties (“Montepios”): 0.55%

4.  Registry and Tax Certificates Stamp Duties: USD 700 on average

5.  Property Transfer Tax: 2% of the Fiscal Value of the Property (which is usually substantially lower than the market value: 0.6% est.)

The Transaction Costs when selling:

  1. Real Estate Agent Fee: 3% plus VAT (22%) = 3.66%
  2. Property Transfer Tax: 2% of the Fiscal Value of the Property (0.6% est.)
  3. Capital gains tax of 12%

Other Property taxes:

  1. There are two yearly taxes to be paid i.e Municipal and School Tax. Together, they average less than 1% of the value (avg. 0.5%)
  2. Rental Income Tax is a flat rate of 10.5% when renting out your property.
Tags: invest in uruguayland investment in uruguayproperties in uruguaypropertysouth americauruguayuruguay investments
ShareTweetSendSend
Previous Post

Taxes and BPS in Uruguay

Next Post

Immigration Requirements for Uruguay

Claudia Z

Claudia Z

Related Posts

Casa Pueblo – Punta Ballena
Immigration

Uruguay, our new home!

October 28, 2019
Impressions of Uruguay.
Immigration

Impressions of Uruguay.

October 29, 2019
Casa Pueblo – Punta Ballena
Photography

Casa Pueblo – Punta Ballena

September 2, 2019
Uruguay’s Wild Flowers
Photography

Uruguay’s Wild Flowers

August 28, 2019
How to Earn a Living in Uruguay
Immigration

How to Earn a Living in Uruguay

August 19, 2019
Next Post
Immigration Requirements for Uruguay

Immigration Requirements for Uruguay

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

No Result
View All Result

Categories

  • Animals (2)
  • Argentina (1)
  • Art (2)
  • Articles (25)
  • Beauty (3)
  • Brazil (1)
  • Chefs Tips (2)
  • Food (15)
  • Gardening (7)
  • Gluten-free Recipes (10)
  • Home (3)
  • Immigration (11)
  • Lifestyle (37)
  • Mysteries (3)
  • Photography (7)
  • Plants (1)
  • Recipes (14)
  • South America (22)
  • Technology (14)
  • The Great Awakening (33)
  • Travel (22)
  • Uruguay (20)
  • Vegan (5)
  • Wellbeing (29)

POPULAR

How to Earn a Living in Uruguay
Immigration

How to Earn a Living in Uruguay

August 19, 2019
Immigration Requirements for Uruguay
Immigration

Immigration Requirements for Uruguay

July 11, 2019
Taxes and BPS in Uruguay
Immigration

Taxes and BPS in Uruguay

July 11, 2019
Cost of Living
Immigration

Cost of Living

August 7, 2019
  • Home
  • Lifestyle
  • Art & Photos
  • Travel
  • Contact Us

Copyright 2019 ©Gypsey.me

Designed and Hosted with ♡ by Clickaddict

No Result
View All Result
  • Home
  • Lifestyle
  • Art & Photos
  • Travel
  • Contact Us

Login to your account below

Forgotten Password?

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In