A NATURAL GATEWAY TO SOUTH AMERICA
URUGUAY HAS A HISTORICAL RECOGNIZED POLITICAL AND SOCIAL STABILITY
Since the beginning of the 19th century, Montevideo was mostly a city - port, whose habitants developed a strong port vocation that implied construction of infrastructure that aimed to position it as a distribution center for the region.
Ever since the Law 16.246 was passed on May 1992 (Law of Ports) - and its later regulations -, Montevideo is the unique port terminal in the Atlantic coast in South America to operate under a "Free Port" regime. This regime applies also to the commercial ports of Fray Bentos, Nueva Palmira, Colonia, Sauce and La Paloma.
Free Port regime
The Free Port regime implies the free transit of goods within the port terminals in Uruguay, with capacity to receive ships from overseas, without the need of authorizations or special clearance. During its stay in the port, goods are exempted from all taxes related to imports or derived from it.
Within the Port of Montevideo, activities such as warehousing, repacking, remarking, classification, grouping or ungrouping, consolidation, manipulation and fractioning (as long as it does not change the NCM of the goods).
Goods can be stored with no time limitation whatsoever,. Destination of the abovementioned goods can be changed at free will, not being subject to restrictions, limitations, permits or previous compliance.
In addition, all goods, activities or services conducted within the Port of Montevideo, are duty free. Also, goods stored under the free port regime are not taxable by Uruguayan Wealth Income Tax.
Terminals outside the port have been created in addition to port’s warehouses. Considering the port’s limited space, this terminals help avoid saturation and promote a more agile trade solution for Uruguay. All of this, ruled by a specific laws.
The Free Port regime is one of Uruguay’s pillars to become the natural gateway to the MERCOSUR, and a truly logistic platform for the region.