Banking in Uruguay?

[jjrapy]

well thanks for the notice haha
in that case, are there any countries in the region that you'd consider as a choice of banking that meets the bare minimum?

What mínimums are we talking about? To be honest, in the region maybe Uruguay. No other one. I think we have some decent banking (low minimums, most fees are flat not a %, also low amount protected around $25k right now).
Access to brokers it very very hard (until now jus IBKR and T212 I’ve successfully tried.
but truly speaking, I don’t know a thing about the banks and their relationship with crypto and Emi related transactions.

 

[Wave!]

What mínimums are we talking about? To be honest, in the region maybe Uruguay. No other one. I think we have some decent banking (low minimums, most fees are flat not a %, also low amount protected around $25k right now).
Access to brokers it very very hard (until now jus IBKR and T212 I’ve successfully tried.
but truly speaking, I don’t know a thing about the banks and their relationship with crypto and Emi related transactions.

thanks, will check Uruguay banks out

 

[Tr0nad0r]

Do banks in Uruguay allow foreigners to open a bank account without being present in the country?

Many countries in South America don't allow foreigners to open accounts at all and some of them don't even allow it to people with a temporary residence permit.

I personally find it curious that someone is looking to open a bank account in South America when so many people in the region are trying to open accounts in other currencies like USD, EUR, and cryptos to avoid the rampant devaluation of their currencies

 

[jjrapy]

Do banks in Uruguay allow foreigners to open a bank account without being present in the country?

Many countries in South America don't allow foreigners to open accounts at all and some of them don't even allow it to people with a temporary residence permit.

I personally find it curious that someone is looking to open a bank account in South America when so many people in the region are trying to open accounts in other currencies like USD, EUR, and cryptos to avoid the rampant devaluation of their currencies

All it’s negotiable. In the boundaries cities, between Brazil and Paraguay for example it’s easy to open a bank account for the foreigners.
that said, many Brazilians have accounts in Paraguayan banks and viceversa, specially Brazilians because I think they are not allowed or it’s very difficult to open an USD account in Brazil.
Most make businesses in the area or so some laundry that’s why they’re people looking for South America.

 

[Tr0nad0r]

returning back to the original topic...

What banks in Uruguay allow foreigners? there are banks that allow account opening without visiting the country?

I remember that some years ago many software developers from Argentina opened bank accounts in Uruguay to be able to receive USD payments from clients outside of Argentina but as far as I remember a personal visit to Montevideo was required to open the accounts.

 

[jjrapy]

I’ve written to HSBC but no answer until now. Swiss banks has branches in Uruguay, so I think they will open accounts to foreigners. I’ll check out.

 

[AMD]

Many countries in South America don't allow foreigners to open accounts at all and some of them don't even allow it to people with a temporary residence permit.

is this new? Uruguay was much more open years back, you just needed to visit the country, take your lawyer or tax advisor with you to the bank and wola you got your secret bank account.

 

[Tr0nad0r]

is this new? Uruguay was much more open years back, you just needed to visit the country, take your lawyer or tax advisor with you to the bank and wola you got your secret bank account.

I'm not particularly familiar with Uruguay since my last visit there was 7 years ago, but it's the case for Colombia, Ecuador, Peru, and Chile.

I'm interested in reading more about experiences with banks in Uruguay

 

[Tr0nad0r]

Some posts (in Spanish but Google Translator is good enough to understand):

https://www.creimermanlaw.com/post/...ólares-y-abrir-una-cuenta-bancaria-en-uruguay
https://pirlutravel.com/cuenta-bancaria-en-uruguay-2019/
Looks like local banks like Itau, Santander, BBVA and can open bank accounts remotely, e.g: Itaú :: Personal Bank

 

[brypto]

Argentina, Uruguay and Brazil are members of Mercosur, something like de EU but worst in every aspect. It's easier for argentines than us citizens for example.

 

[Samman Kaseeb Sleiman]

All it’s negotiable. In the boundaries cities, between Brazil and Paraguay for example it’s easy to open a bank account for the foreigners.

Are you certain? For foreigners who aren't residents in either country, and nor from Mercosur either?

In what cities, in what banks?

 

[daxbr]

The best: brou.com.uy

 

[tolstoy]

The best: brou.com.uy

This works for paraguayan PR holders you mean or for whom exactly daxbr? Which one is it good for personal or business banking?

 

[Samman Kaseeb Sleiman]

The best: brou.com.uy

That's in Uruguay. But I asked about the banks at the border of Paraguay - Brazil .


However, regarding Uruguay -- BROU requires 5k USD as a deposit, for 6 months, untouched, as far as I've heard multiple times already. Right? Are there easier banks in Uruguay?

 

[jjrapy]

Are you certain? For foreigners who aren't residents in either country, and nor from Mercosur either?

In what cities, in what banks?

For that situation I’ll have to dig deeper.

 

[Samman Kaseeb Sleiman]

For that situation I’ll have to dig deeper.

What was your previous reply based on then?

https://www.offshorecorptalk.com/threads/banking-in-uruguay.34203/#post-179611

 

[jjrapy]

What was your previous reply based on then?

https://www.offshorecorptalk.com/threads/banking-in-uruguay.34203/#post-179611

Residents in Brazil primarily..

 

[tolstoy]

That's in Uruguay. But I asked about the banks at the border of Paraguay - Brazil .


However, regarding Uruguay -- BROU requires 5k USD as a deposit, for 6 months, untouched, as far as I've heard multiple times already. Right? Are there easier banks in Uruguay?

Does that work for PARAGUAYAN PR holders?

 

[Mssquirrel]

Did anyone here finally open a bank account in Uruguay as a non-resident?

 

[daxbr]

Did anyone here finally open a bank account in Uruguay as a non-resident?

Pre covid. Not recently.