Uruguay It is one of the Latin American countries with the greatest ease of doing business and from average complexity in this case in global comparisons, according to the Global Business Complexity Index of TMF Group posted today.

The survey shows that Uruguay is ranked 35th in the world, which is an improvement over 2022, which was ranked 27th. In South America, the only jurisdiction with greater facilities for doing business is Ecuadorat position 40.

Beyond its special place in South America, At a global level, Uruguay is classified as a ‘moderately complex’ jurisdiction, with an overall score of 6 on the scale (0 being the least complex and 10 being the most). Where it is best evaluated is in the categories Use of technology (2), International positioning (2), Representation of companies (2) and Level of decentralization (0).

In moderate complexity are the categories Legislative Requirements (6) and Labor Rights (6), and in high complexity Planning and schedules (8), Company Registration (7) and Fines and obligations (7), and Report presentation rules (7) .

Within certain business areas, the index assigns moderate complexity levels to Uruguay for Accounting and taxes (5), Payroll and human resources (5) and Rules, regulations and penalties (6).

According to the TMF Group, Factors that make Uruguay stand out in the region are its political and social stability, democracy and legal certainty, as well as clear and stable rule-making for investors., regardless of political changes in the country. Besides that, prominent strategic location for the region and the world (with a clear and stable free zone regime), logistics infrastructure, state-of-the-art technologies in telecommunications, among other aspects.

in index, Cayman Islands, Denmark, Curaçao are countries with the least complexity in doing business. The United States is out of the bottom 10 (the easiest place to do business). Denmark, the United Kingdom and Hong Kong retain their places among the 10 least complex jurisdictions.

The list of the 10 most business-friendly jurisdictions has new entries, such as Malta (ranked 69 vs. 67 in 2022) and the Netherlands (ranked 75 vs. 56 in 2022). In the case of Latin America, Brazil, Mexico, Colombia, Peru, Bolivia and Argentina are among the 10 most complex jurisdictions for doing business.

Country (Uruguay)