The Executive Branch has just called an international bid for the construction, development and operation of a free-trade zone (zona franca) next to Punta del Este.
Free trade zones are areas of the Uruguayan territory where business operators benefit from a 0 tax regime.
With 100 years of experience in the field, Uruguay has more than 10 free trade zones in operation. Uruguay’s free trade zone experience is deemed to be one of the most successful initiatives pursued by Uruguay over the three decades. As of today, free trade zones represent more than 5% of Uruguay’s GDP, and provide direct and indirect employment to more than 16,500 people. Each of the three pulp mills currently existing in Uruguay (with a cumulative investment of more than USD 7 billion) is a free trade zone.
The bidding terms are already available. Among others, a minimum infrastructure investment of USD 15,000,000 is required, coupled with the purchase of pertaining real estate property for a minimum sum of USD 4,000,000 million approx
Due date for offers submission is yet to be announced.
The above communication has been prepared just for information purposes. It cannot be construed as legal advice provided by Bergstein Abogados.
Should you have any further questions, please feel free to contact Dr. Domingo Pereira (dpereira@bergsteinlaw.com) and / or Dr. Ignacio Torres Negreira (itorresnegreira@bergsteinlaw.com)
