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Residency Income RequirementThis forum post has messages dated from 11/22/11 through 11/28/11, please be sure to read all the messages. If you feel it is old or outdated, please follow up with a question or comment and someone may be able to update it, or reply with newer information if you have it.
| Residency Income Requirement Depending on which contributor you believe, the income requirement for permanent residency in Uruguay is either USD500 or USD1500 per month. That's quite a range. Since the second figure appears in an article specifically dated 2011 I suspect that it is the true figure. Can anyone confirm what the actual income requirement is? |
| "There is no specific requirement"
It appears there is no longer a specific requirement.According to the website for immigration you need to show enough income to support yourself. I am told by one immigration consultant that depending on where you live, the requirement could be different. I posted a link to the immigration website and the immigration law (both in Spanish) on another post... See my comments #3 and #14: Expert Page: Quick Tips for Getting Settled in Uruguay |
| "Confirmation Enough"
Thank you, Glen, for your prompt response to my inquiry. Since I am still here in the U.S. trying to decide where in the entire world I intend to retire to, I have not started the formidable task of learning a new language. For that reason the references you kindly supplied are incomprehensible to me. (How's that for a bad start?)However, WitoUruguay's comment #16 in that same discussion thread seems to resolve the ambiguity. Sure enough on the Uruguayan Consulate site in Chicago under "Residency Requirements" I find this passage: "Persons who live off interest/rents, retirees and pensioners in foreign countries must present a notary public certification indicating their status and monthly incomes he/she will receive in Uruguay (minimum required United States dollars 1.500, 00/one thousand five hundred)." Now, that's something I can understand (even if the translator does has some trouble with numeric punctuation). I cannot afford to travel to a country that does not make their retirement income requirement explicite only to find out that I have to leave. It's hard enough to make plans when they DO provide an explicite figure. Well, I guess I'm back to Nicaragua as my only possibility in Latin America. Thanks again for your help. |
| "Advice from the consul"
Maybe have had issues with information they get from the Uruguayan Consuls. For a long time they were telling people the requirement was US$1, 500 a month. Left over from when there was a $500 a month and a $1, 500 a month plus US$100, 000 on deposit (or in real estate) that had other advantages.Although that second option had been discontinued for years that information was still being given out. I would go with what is on the immigration services website over anything else (except the law, which doesn't seem very specific). Also, 1.500 is the correct way to say 1, 500 in Spanish! I would agree that Uruguayan is going to have serious problems attracting Expats until they get back into a position of clarity with respect to the residency requirements and tax obligations. I've spent time (years+) in Central and South America. It is difficult to describe the differences, but maybe saying that the countries in South American seem more "cultured" or more "functional" would be a good way to put it. I would never consider relocating to or exploring the options in Central America (again), but wouldn't hesitate to explore most anywhere in South America. Expect for Buenos Aries as I find the people unpleasant. Expert Page: Quick Tips for Getting Settled in Uruguay |
| "Buenos Aires"
Glen, though I have heard similar reports regarding BsAs, your comment surprised me somewhat. My wife and I spent two months there earlier in the year and we found the people to be very nice. When we left we felt as though we were leaving friends. My wife is Thai and she and the locals had a great time together trying to communicate. I had pretty much the same experience on my first trip to Paris which really surprised me after all the horror stories I had heard about the people of that city. |
| "Uruguayan Catch-22"
Glen, Ok, so that puts me in the position where what I CAN read (the consulate web site information in English) is probably wrong and what I CAN'T read (the actual immigration law in Spanish) is still ambiguous on the subject in question. So, as I said before, my search must be confined to those countries that will actually specify an explicite figure for their income requirement. That's surprising about the numeric punctuation. I thought the Hindu-Arabic numeral system specified a period symbol for a decimal point but now I know this is only true of English and Asian languages and that others use a "decimal comma". I've never seen this before. (Talk about provincial.) Thanks for your help. Back to the search. |
| "Lack of Clarity"
I can't disagree with you about the position you are in. It used to be that Uruguay was quite clear on their requirements for residency. That also used to be the cases with taxes, which were muddled a bit in 2007 and then as of Jan 1, 2011 muddled to a point of complete confusion (ie: law passed with no implementation or clue as to what someone's current, or future obligations may be).On the immigration issue it is too soon to have a clear idea what is going on. Some have complained about being asked to show $1, 500 of income when they previously showed $500. Others seem to do fine with $500. Maybe some people who have made recent applications, not with Fischer, can report what immigration has required of them. Expert Page: Quick Tips for Getting Settled in Uruguay |
Comment #711/26/11 06:04Rural east Colonia departmento | "Clarity to obscurity"
I'd agree with Glen. When I moved here the income requirement for a retired person was clear... 500 U$S/month. From what I've been hearing recently, its around 1.5k U$S but might be less if immigration says so.In 2005 the Uru-consul in London provided me with 14 responses to specific questions. 10 answers were completely wrong and 4 were formerly correct but the laws had been changed apparently without the knowledge of the consul. I used to suspect that there was a disinformation specialist somewhere in the Uru foreign ministry who enjoyed confusing possible immigrants :-) There are now possible income tax liabilities on foreigners' foreign incomes but although the tax law was passed by congress last December, nobody (including the Minister of Finance) knows when nor to what extent they will or will not be introduced and/or enforced. |
| "Income requirements"
I'd agree with Glen. When I moved here the income requirement for a retired person was clear... 500 U$S/month. From what I've been hearing recently, its around 1.5k U$S but might be less if immigration says so.Patrick, I can understand Uuguay's position on $1500/mo. If you dont set some stamdard you will have vagrants moving there. You have see OWS in the US and in Europe. I sure would not want them in Uruguay. What concerns me is the income tax liabilities on foreign income. As long as you have a resident visa you would not be taxed again from money you earned in the US after it was already taxed taking it out of your IRA. Am I making sense? |
| "Clarity"
The immigration website says enough to live. So if you want convince them thats $1... or if they think it is $15, 000. I think $1, 500 is an arbitrary figure that someone came up that is likely to satisfy them.I also think it is unlikely that N. American expats will find it easy to live for less than that. However, most of the immigrants to Uruguay from other Latin American countries and of a lower economic scale. The problem isn't whether it is $500 or $1, 500, but with the lack of clarity and the shift from the residency process being objective, ie: having all the papers in order to being subjective, ie: someone decides to you earn enough to live. Will someone that buys a condo for US$300, 000 need to show more monthly income than one that rents a single room apartment for US$500/month? On the taxes, the only thing that seems clear is that it only applies to those physically in the country more than six months of the year (or has other family or business ties to the country). That is the only provision in the law, the rest of left up to its implementation. Cashing out an IRA is a whole different issue. What is income for Uruguay? Interest earned in an IRA that you don't (now) pay taxes on the in USA? Or, because the USA says it is an IRA, does Uruguay consider it that way? None of these issues with have any impact or disparage those are the lower economic realms from consider Uruguay. They will have a much larger impact on those with more financial resources. Expert Page: Quick Tips for Getting Settled in Uruguay |
Comment #1011/28/11 06:08Rural east Colonia departmento | "Clarity and certainty"
I've no objections to immigration setting an income figure of whatever they feel an immigrant might need but I reckon the old system of stating a precise figure is a much better approach that using a non-specific phrase like "enough to live." The two of us spend itro 3k U$S a month but my neighbour Alberto, his wife and 7 children get by on 1200 U$S/month.As for the future taxing of foreigners' foreign incomes, nobody knows. Lorenzo and Juan Fischer have both made comforting noises about what may/may not happen and whether it will happen at all but when it comes to tax regulations, the devil is in the detail. Lorenzo has said that he won't tax income that has already suffered 12% or more tax by foreign authorities but he hasn't said what will happen if say 10% tax has already been charged. He also hasn't said whether income which falls within foreign tax free allowances will be taxable here nor whether the standard Uru tax free allowances will apply to a foreigner's foreign income. Its yet another example of the current administration's unfortunate skills when it comes to uncertainty and obscurity. |
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