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Why Retire in Uruguay?This forum post has messages dated from 07/05/10 through 07/10/10, 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 If you feel it is old or outdated, please follow up with a question or comment and someone may be able to update it, or reply with newer information if you have it.
| Why Retire in Uruguay?I have a site where you can read the ten reasons why people are retiring in Uruguay. Foreigners have traditionally come to Uruguay for vacation, to invest real estate, and to use Uruguay’s secure banking services. However, for many approaching retirement during uncertain times, Uruguay is attracting attention as a great place to retire. Here are 10 reasons why: |
Comment #107/06/10 10:42Rural east Colonia departmento |  "Tax on foreign income."
"3. Uruguay does not tax foreign source incomeUruguay does not tax foreign source income, meaning that your pension, social security, and all money that is generated outside of Uruguay is not taxed in Uruguay and does not need to be reported to the Uruguayan tax authorities." Sad to say you're talking about the good old days... ex-pats from countries without a double taxation treaty with the ROU can look forward being taxed not once but twice from 1/1/2011 so you're a bit out of date about this. |
| "Yes, but ...."
Without a tax-treaty how will Uruguayan authorities even know that you have an income from outside unless you start importing it? |
Comment #307/06/10 21:34Rural east Colonia departmento | "Avoidance -v- evasion"
At first sight evasion seems to be the easy option so long as you don't need the income to spend here. The drawback comes if/when Lorenzo does get around to signing a tax agreement with the foreign country where the taxed income is paid because the DGI will get to see the details and questions will be asked about why it wasn't declared between 1/1/11 and whatever year the agreement was finally signed. Some foreign incomes (like old age pensions) are horribly visible :-) |
| "importation vs evasion."
In the event that the money comes in as a bank transfer, is that signalled right away to the DGI by the bank? Maybe I should be asking you this sort of question on the one-to-one forum. |
Comment #507/07/10 16:28Rural east Colonia departmento | "Unknown zone"
Nobody knows what is going to happen but rule one for tax evaders is to avoid doing traceable transfers or transactions from overseas into the jurisdiction which wants to double tax the income. It looks like Lorenzo's proposals will make it easy for the DGI to examine ROU bank records so unless the legislature upsets his plans, banking transactions probably aren't a good idea.A wealthy tax evader might choose to hide his overseas income by leaving it accumulating overseas and living on the capital he has that is known to the DGI but most of us lesser mortals aren't in that happy position. I'm hoping that the proposed IRPF exemptions on pre-taxed overseas rents from rented properties will survive the legislature. Otherwise I'll have to impoverish myself, stay here to run the farm and send my newly enriched SO into exile for 183 days a year. I'm away to Gualeguaychu next week to check the place out just in case. |
| "Gualeguaychu????"
Patrick that's treason to the homeland! Anywhere, except Gualeguaychú! hahaha |
| "Sounds More like "Why NOT to Retire in ROU""
Do they make more money from the ex-pats being here, or is there some secret way they make more money by driving them away?Seems to me that the ex-pat demographic puts a great deal into the local community. If they pass the hard line version of this, the South bound traffic will most certainly stop, right? Don't you think they will do a study and see this obvious fact? |
Comment #807/08/10 10:53Rural east Colonia departmento | "Tradition"
"Do they make more money from the ex-pats being here, or is there some secret way they make more money by driving them away?"Killing the geese which lay golden eggs is a popular traditional pastime here :-) |
Comment #907/08/10 10:59Rural east Colonia departmento | "Treason and taxes"
"Patrick that's treason to the homeland! Anywhere, except Gualeguaychú! hahaha"It has the advantage of being reasonably close for visits and the river is narrow enough for me to row across next time they close the bridge. If the 33 Orientales could do it... :-) I've been looking at some of the wonderful camper vans that the Brazilians build but its a shame that they cost several times more than a house. |
| "Camper Vans or Buses"
"I've been looking at some of the wonderful camper vans that the Brazilians build but its a shame that they cost several times more than a house."Every now and then some of the big bus lines sell their Diesel Pushers at really low prices. They 'retire' certain model years all at once. An Ex-Pat Argentinian friend of mine talked to the Copsa drivers and mechanics in the Costa de Oro area and bought one that had been on the route by his house in El Pinar. It had just had a new Mercedes Engine installed. He paid $6, 000 U.S. for it and all it needed was the body, bed, and bath modifications. He and his Uruguayan wife and son are planning trips all over the Cono Sur. Just an idea. ~P |
Comment #1107/09/10 09:37Rural east Colonia departmento | "Buses"
I have seen surplus buses for sale on Mercadolibre from time to time but they usually cost a bit more than the bargain you quote. |
| "Buses...Revisited"
"I have seen surplus buses for sale on Mercadolibre from time to time but they usually cost a bit more than the bargain you quote." Not sure how he found that deal, but I'll ask when I see him next. He's an Artisan in wood and travels around quite a bit. His main home is in Solymar, and he and his wife are friends of my Stepson. I know he bought direct from Copsa, but I'm not sure if it was in a Remate or what. Yeh, $US6K is less than the cost of that motor he got with it! Great deal, I thought.>) |
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