Operating a Business

flag Uruguay Uruguay: Operating a Business

In this page: Setting Up a Company | The Active Population in Figures | Working Conditions | Cost of Labour | Social Partners

 

Setting Up a Company

Sociedad Anonima is a Public Limited Company
Number of partners: At least two shareholders
Capital (max/min): UYU 923,403. 25% of the capital must be paid up at the moment of incorporation.
Shareholders and liability: Liability is limited to the amount contributed.
Sociedad de Responsabilidad Limitada (SRL) is a Private Limited Company
Number of partners: At least two shareholders, maximum 50
Capital (max/min): UYU 20,531. At the time of the constitution, the partners have to contribute at least 50% of their participation in the share capital.
Shareholders and liability: Liability is limited to the amount contributed.
Sociedad Colectiva (SC) is a general partnership
Number of partners: Minimum 2 partners
Capital (max/min): No minimum capital required.
Shareholders and liability: Liability is unlimited for all partners
Sociedad en Commandita Simple (SCS) is a limited partnership
Number of partners: Minimum 2 partners
Capital (max/min): No minimum capital required.
Shareholders and liability: Liability is limited for sleeping partners, unlimited for managing partners
The Competent Organisation
Company's registration shall be done at the following institutions:

- DGI (Direccion general impositiva) (General Tax Office);
- BPS (Banco de seguro del Estado) (State Insurance Bank);
- MTSS (Government ministry of work);
- MEC (Government ministry of education and culture at the register of the legal representatives of the commercial section).

 
Setting Up a Company Uruguay Latin America & Caribbean
Procedures (number) 5.0 8.0
Time (days) 6.5 25.2

Source: Doing Business.

 
Business Setup Procedures
Consult Doing Business Website, to know about procedures to start a Business in Uruguay.
Department of Public Registers

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The Active Population in Figures

201820192020
Labour Force 1,749,8771,759,5041,686,696

Source: International Labour Organization, ILOSTAT database

 
201720182019
Total activity rate 75.51%75.18%75.28%
Men activity rate 82.98%82.52%82.55%
Women activity rate 68.19%67.99%68.14%

Source: International Labour Organization, ILOSTAT database

 

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Working Conditions

Legal Weekly Duration
The standard workweek is 44 hours.
Retirement Age
60
Working Contracts
Employment contracts are regulated by Law. Collective agreements in each sector and individual negotiations complement it.
The terms of employment contracts are flexible.
Labour Laws
Consult Doing Business Website, to obtain a summary of the labor regulations that apply to local entreprises.

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Cost of Labour

Minimum Wage
In 2021, the minimum wage is UYU 17,930 per month according to the data of the Uruguayan government.
Average Wage
In 2019, the monthly average wage was UYU 34 746 according to the ILO (lastest available data).
Social Contributions
Social Security Contributions Paid By Employers: 12.63% of the gross wage.
Social Security Contributions Paid By Employees: 18,1-23.1% of the gross wage according to plans and sectors.

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Social Partners

Social Dialogue and Involvement of Social Partners
The Unitarian Federation ( PIT-CNT ) is the organization that co-ordinates trade union representatives. It puts pressure on the government.
Unions
PIT CNT Inter-union Workers' Congress; National Workers' Convention.
Unionisation Rate
12%.
Labour Regulation Bodies
Ministry of work

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Latest Update: November 2022