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Golden visa in Uruguay. How to get it?

How we can obtain a golden visa in Uruguay, a country of South America with a high quality of life?

There are many people who have obtained permanent residence in Uruguay with a golden visa program, do you want to join this list? Do you know all the steps to do it and the fastest way? Today we tell you everything about it.

Uruguay is located in South America, Montevideo is a beautiful city and also the capital of this country. Bordered by Brazil in the northeast and west with Argentina, it has a population a little over 3 million inhabitants.

The main source of income of the nation is through agriculture and livestock, the climate is temperate and with the lowest rate of corruption in Latin America.

It is a place where you can enjoy a quiet life, as it is among the 20 safest countries in the world and also among the 20 most democratic. The language that is dominated is Spanish, the national currency is Uruguayan pesos and the majority of the population is descendant of Spain, or Italian citizens, followed by French and Armenians.

Reside in Uruguay

minimum salary

Currently, the minimum wage is about 380 dollars or 11,150 Uruguayan pesos, it is estimated that by the next year 2018 will increase an additional $ 100.

This is stated in the Presidential Decree of January 1, 2016, an aspect that makes the country the third in South America with the highest minimum wage.

Monthly costs

In the capital, there is a rhythm of life a little more expensive than in the rest of the country, for this reason, salaries tend to be higher.

In general, the opinion is that it is an expensive country compared to the rest of Latin America.

For the monthly transport, an average of 30 to 60 dollars is spent if you take one or two buses a day since each trip costs 1 dollar.

Except for workers and students who pay half the price, or 0.50 cents per trip.

If you move in taxis, each trip you take will cost about $ 2.96, for a distance of at least 30 blocks.

On the other hand, the basic monthly basket includes expenses in food, personal hygiene, in addition to what is destined for health and clothing.

Approximately, the monthly cost allocated for this purpose reaches 17.87% of the average salary in Uruguay, according to a study conducted by the BBC.

Expenses that do not include what would be spent each month to pay the rent, in this case, it would be about 500 or 800 dollars, depending on the size and location.

Golden visas

In a report published on Wednesday, the anticorruption organizations Transparency International and Global Witness denounce the drifts of the practice of “golden visas” granted by European Union countries to attract foreign investment.

According to the NGOs Transparency International and Global Witness, the granting of citizenship or the right of residence to non-European individuals in exchange for investments, and without controls or transparency, is the open door to criminal and corrupt entry into the European territory.

Thus, in the last ten years, the countries of the European Union would have “sold” at least 6,000 passports and 100,000 residence permits. A total of 14 countries, including France, the United Kingdom, Spain, Portugal, the Netherlands, Luxembourg, Austria, Bulgaria, Cyprus, and Malta, have resorted to one of these practices.

The two NGOs specify that Spain, Latvia, Portugal and the United Kingdom top the list of countries that have granted these golden residence permits (17,000 only in Portugal since 2012 – where 95% of the investments are for the real estate sector, which the pressure on the accommodation market increases without being translated by the creation of jobs). Followed by Greece, Cyprus, and Malta.

The amounts of the investments go from 250,000 euros for a residence permit in Greece or Latvia to two million for a Cypriot passport and up to ten million euros for an Austrian passport.

These programs have generated around € 25 billion of foreign direct investment in the EU as a whole in the last ten years, explains the report. “Cyprus, Portugal, Spain and the United Kingdom would have earned between 500 and 1,000 million euros per year,” without worrying about their origin.

In Malta, “particular circumstances” are alleged to accept candidates with criminal or prosecuted backgrounds. “In Hungary, Latvia and the United Kingdom, the chances of obtaining these visas reach 90%,” said Transparency International and Global Witness.

The NGOs recommend that the EU set standards to intensify the monitoring of these golden visa programs and to strengthen the control of candidates and their families. They also recommend prosecuting those Member States whose programs may compromise the collective security of the EU.