Latin America

Uruguay luring disgruntled Argentinian businessmen

Uruguay has often served as a sort of a tax haven for Argentinian businessmen. Now, more Argentinian firms are also calling Uruguay home

Uruguay luring disgruntled Argentinian businessmen
Puerto Madero, Buenos Aires. Argentina’s big business ponders a move to Uruguay. Photo: T Photography/Shutterstock

Uruguay has often been accused of operating as something of a tax haven for the Buenos Aires elite. Many crooked Argentinian politicians hide their embezzled money across the border, and businessmen often move operations to Uruguay to enjoy lower tax rates. The country is largely regarded as being more business-friendly than its neighbor from across the Rio de la Plata. Now, however, Uruguay is drawing the attention of Argentina’s big business.

Talk of company migrations has increased since 2019, when pro-market former President Mauricio Macri lost re-election to the more interventionist left-wing duo of Alberto Fernández and Cristina...

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