Business
Uruguay — Social Security (BPS)
BPS (Banco de Previsión Social) is Uruguay's state social-security institution, covering pensions, health insurance contributions (FONASA, which funds access to mutualista healthcare), unemployment insurance, and family allowances.
Key facts
- BPS registration is a prerequisite step before a company can legally hire any employee in Uruguay
Costs
- Employer BPS contribution: 7.5% of IRAE (Independent and Self-employed Retirement and Insurance Association) contributions (verify current rate)
Timelines
- Company registration with BPS: 3 days
Required documents
- BPS registration