For many years Uruguay has been quietly providing a haven for companies and individuals to operate under the radar, in terms of privacy.
Uruguay only taxes income generated inside Uruguay, and assets located inside the country.
The SA is the typical corporate vehicle used in Uruguay—it can be used for both onshore and offshore activity.
The SA provides limited liability and anonymity for shareholders. The director or members of the board of directors are not required to be owners/shareholders. Instead, they are often third parties appointed by owners/shareholders. There is no public record requirement, and shareholders do not have to be registered publicly, even if they own nominal shares.