Business
Uruguay — Business Accounting
Uruguayan companies (S.A. and S.R.L.) are required to keep formal accounting records and file periodic tax returns with DGI, and most small-to-mid businesses, including foreign-owned ones, are reported to rely on a local 'contador' (accountant/gestoría) rather than in-house bookkeeping given the specificity of local tax and social-security filings.
Key facts
- Most small-to-mid businesses, including foreign-owned ones, rely on a local 'contador' (registered accountant) for compliance, not just for routine filings and the annual balance-sheet certification.
Costs
- Registration Fee: US$ 65
Timelines
- Company registration: approximately 30 business days
Common mistakes
- Attempting to self-manage accounting without a licensed local contador — several filings and the annual balance sheet require a registered accountant's certification by law.