Known as the Switzerland of South America, Uruguay is being seen as a safe emerging market destination for investors looking to balance risk with reward.

The country is in the south-eastern part of South America, on the coastline between its more illustrious neighbours, Brazil and Argentina.

With a population of more than 3.5 million, Uruguay has an excellent climate, one of the continent’s lowest poverty rates, and a well-educated work force and high levels of social spending.

With the country’s tourism trade on the up and a healthy agriculture industry providing a solid base, the Uruguayan economy is as strong as it’s ever been.

The economy has grown impressively since 2004, a direct result of high commodity prices for exports, a competitive peso, on-going regional development and low international interest rates.

Foreigners can purchase property and land in Uruguay in their own names on a 100% freehold basis - this is still relatively rare in emerging markets.

Ownership of property in Uruguay is an absolute and exclusive right as set out in their constitution. In addition to sole ownership, it’s also possible for property to be owned jointly by several legal persons at the same time through a form of co-ownership or condominium.

Uruguay has a finance system which is securely regulated. Mortgages can be arranged both for homeowners and buy to let purchases, while the Uruguayan law recognises that resident and foreign investors should have the same legal rights and protection.

Opening a bank account is fairly easy and The Uruguayan state bank, Banco Republica, has by far the easiest account opening process for non-residents. With the account you receive an ATM card, which can be used to withdraw money in Uruguay or abroad, and you can also access your account via the Internet.

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