Uruguay Wants Rich Expats to Pay More to Qualify for Tax Breaks

Sept. 30, 2025, 12:00 PM UTC

Uruguayan President Yamandu Orsi wants wealthy foreigners to pay significantly more to qualify for tax breaks that had lured a couple thousand expats into the South American country known as a haven for investors.

Currently, a common path to get tax residency and a long-term holiday on foreign investment income is to buy property worth at least $559,000. Starting next year, new residents would have to invest an additional $2 million in real estate to qualify for those deductions, according to Deputy Finance Minister Martin Vallcorba, who cited a proposal being added to Orsi’s first budget bill.

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