For Less Than $400,000 You Can Now Get Uruguay Tax Residency (1)

Uruguay will soon be even more welcoming to wealthy foreigners looking for a new home following a presidential decree that makes it cheaper to obtain tax residency in the South American country.

Starting in July, foreigners who live at least 60 days a year in Uruguay and buy real estate valued above 3.5 million inflation-linked UI -- currently equivalent to $378,000 -- will qualify for tax residency. Newcomers can also obtain residency by investing more than 15 million UI in a business that creates at least 15 full-time jobs.

Federico Fischer, managing partner at the local chapter of Andersen Tax ...