Fiu provides a specialized and experienced independent assessment to the potential buyers in matters such as:
Buying farmland
Legal and taxation issues
Developing and managing the farm
These services are provided by specialists: agronomists, lawyers, notaries and accountants.
Buying land in Uruguay
Purchase of land in Uruguay can be well supported by very useful technical indicators.
Every farm in the country is covered by aerial photography, has a productivity (or land capability classification) index (CONEAT) and detailed soil maps.
This information, together with the site inspection services available, provides the potential investor with a solid basis for a safe and productive investment.
Technical support of Fiu in those matters can be provided according to specific needs.
Fiu is also connected to an important network of real estate agents in order to have access to an extensive offer of farms for sale, while maintaining independent criteria to counsel the potential buyer according to his interests.
Legal and taxation issues
There is no restriction whatsoever on foreign capital investment for the acquisition of land in Uruguay. This is true whether the acquisition is by foreign individuals or incorporated companies.
The basic tax is the IRA (income tax) based on the business profitability.
There is also the land tax, payable to the local departamental government. This tax (Contribución Inmobiliaria) is based on the land's productivity index and its size. Additionally, there is a social security taxing system based on the productivity index and the number of employees (B.P.S.). Experts in those fields will provide the necessary expertise to device the best legal solution and tax strategy according to the needs of the client.
Developing and managing a farm enterprise in Uruguay
The more appropriate management system for running and administrating the farm operation depends on several factors such as:
whether or not the new owner intends to live on the farm;
the type of farming projected;
the location of the farm ;
Usually, larger companies have their own organization to deal with most of the management processes.
Alternatively, there are firms which can provide the required services on a fee-for-service basis. Because of its substantial experience and expertise, we are ideally positioned to provide such services, if needed.
A properly managed farm requires a high standard of performance in the following areas:
The farm requires a responsible person for day-to-day decision-making. This person should live on the property. If the owner decides not to live on the farm, rural technicians (with three years of theoretical and practical training) are usually hired to perform such duties;
At the management level, more strategic decision-making is required. Such planning includes the product policy for the enterprise, selling and buying decisions and economic and financial management.
Typically, foreign investors rely on others to administer the business, hiring the services and skills of a person or group of persons to undertake these management functions, including the supervision of the emplyees.
Fiu periodically produces updated information on farming issues, which you can receive if you are interested. Please send your mailing details and any other request to us: For more information, click here
Fiu
Luis de la Torre 488
11.300 Montevideo - Uruguay
Phone: (598-2) 710.07.08 Fax: (598-2) 711.88.34
Mobile: (598) 99.64.16.64 e-mail: rocar@farming-uruguay.com