Foreign Direct Investment in Uruguay 2025: Strategic Sectors, Figures, and Opportunities
The Uruguay XXI – Private Capital 2025 report confirms that Uruguay continues to maintain a steady trajectory in attracting foreign capital, with growing participation in mergers, acquisitions, and investment rounds across the region.
The key aspects of investment in Uruguay include sectoral diversification, the predominance of long-term foreign investment, an expanding technological ecosystem, and a modern, transparent regulatory framework.
During 2024, Uruguay recorded an increasing number of transactions, with 84% of them led by foreign investors, confirming the country’s consolidation as a regional hub for investment, services, and technology.
Macroeconomic stability, a reliable legal environment, and the tax incentives of the Uruguayan regime explain why global funds and companies continue to choose Uruguay as a platform for expansion throughout Latin America.
How is Private Investment Structured in Uruguay?
In 2024, 78% of transactions corresponded to majority acquisitions, 23% to capitalization rounds, and 3% to minority stakes.
This data demonstrates investors’ interest in gaining control or direct influence over Uruguayan companies.
Sectors with the highest capital inflows
| Sector | Estimated share | Type of operations |
|---|---|---|
| Energy & Infrastructure | 40% of invested capital | Chevron (offshore), Pluspetrol (wind), Atlantica PLC (power transmission) |
| Manufacturing & Agribusiness | 20% | Bimbo–Pagnifique, Lactalis–Granja Pocha, Froneri–Crufi |
| Technology, Fintech & Global Services | 25% | Prometeo (PayPal, Samsung), Arkano Software, Inswitch |
| Logistics & Transportation | 8% | Colonia Express–COT, Manatil SA |
| Commerce & Professional Services | 7% | Adecco Uruguay (SGF Global), Plexo (Itaú), CIU (Balanz Capital) |
These figures highlight how Uruguay combines traditional export-oriented sectors (energy, industry, agribusiness) with knowledge-intensive industries (technology, financial services, software, biotechnology), creating a diversified and resilient investment structure.
Sectors Attracting Foreign Direct Investment in Uruguay
🔹 Energy & Infrastructure
Uruguay remains a regional leader in renewable energy, with over 97% of its electricity matrix from renewable sources.
In 2024, Chevron entered the offshore block Área OFF-1, and Pluspetrol acquired wind farms worth over US$150 million.
Projects in power transmission and logistics infrastructure—such as that acquired by Atlantica Sustainable Infrastructure PLC—strengthen Uruguay’s appeal for long-term, low-risk investments.
🔹 Industry & Agribusiness
The food and agro-export industry remains a cornerstone of FDI.
Notable transactions include:
-
Bimbo (Mexico) acquired Pagnifique, expanding its regional presence.
-
Lactalis (France) purchased Granja Pocha, consolidating its leadership in dairy.
-
Froneri (UK) incorporated Crufi, strengthening ice cream exports from Uruguay.
The agribusiness sector continues to attract investments in seeds, plant biotechnology, and forestry, with OJI Holdings (Japan) and Nufarm (Australia) as active players.
🔹 Technology, Fintech & Global Services
Uruguay’s startup ecosystem is maturing, with standout activity in fintech, healthtech, biotech, and SaaS.
In 2024, there were 35 investment rounds, averaging US$400,000 per round.
Startups such as Prometeo, Nanogrow Biotech, Data4Sales, and Flipzen led international fundraising efforts, attracting funds from the U.S., South Korea, Chile, and Mexico.
Uruguay offers an ideal environment for these industries—high connectivity, specialized talent, tax incentives, and legal certainty—which explains the growing interest from funds like UIH, Ganesha Labs, and Endeavor Catalyst.
🔹 Logistics & Professional Services
The expansion of the Port of Montevideo, strengthening of free trade zones, and connectivity through bioceanic corridors have driven transactions such as Colonia Express’s acquisition of COT and SGF Global’s acquisition of Adecco Uruguay.
These developments underscore the country’s role as a logistics and service platform for the region.
Investor Profile and Capital Origin
According to Uruguay XXI, the main sources of foreign capital are:
| Country | Share of total transactions | Leading sectors |
|---|---|---|
| United States | 17% | Technology, global services, energy |
| Argentina | 14% | Industry, commerce, logistics |
| Brazil | 10% | Industry, financial services |
| Spain | 9% | Technology, energy, finance |
| Rest of Europe & Asia | 16% | Agribusiness, biotechnology, infrastructure |
Combined, the top four countries (U.S., Argentina, Brazil, and Spain) account for 50% of foreign acquisitions in Uruguay.
The remaining share comes from diversified markets including Japan, the United Kingdom, South Korea, and France, reinforcing Uruguay’s global projection.
A Competitive Regulatory Framework
Uruguay offers a legal and tax system designed to promote productive investment.
Its corporate, investment fund, and competition laws (Laws 16.060, 16.774, 18.159, and 16.906) guarantee transparency, predictability, and investor protection.
Key benefits include:
-
Tax exemptions for mergers and spin-offs that strengthen companies.
-
Income tax (IRPF) exemptions on share transfers between Uruguayan companies under the same ultimate beneficial owner.
-
Free Zone and Free Port regimes, with 0% corporate income tax (IRAE) and full repatriation of profits.
These conditions make Uruguay an efficient jurisdiction for structuring holdings, funds, and regional investment vehicles.
Carlos Picos Consultora Services for Foreign Investors
Uruguay continues to strengthen its position as a safe, stable, and competitive platform for foreign direct investment.
Within this framework, Carlos Picos Consultora offers expertise to support investors choosing Uruguay as their regional base:
🔸 Legal and Corporate Structuring:
Design of investment vehicles (HoldCo, SalesCo, IP Hold, etc.) tailored to investor profiles and Uruguay’s regulatory benefits.
🔸 International Tax Planning:
Optimization through double taxation treaties, Free Zone regimes, and preferential treatment for foreign-sourced income and dividends.
🔸 Mergers and Acquisitions (M&A):
Due diligence, valuation, acquisition structuring, and regulatory approvals before the Competition Defense Commission.
🔸 Venture Capital and Startup Advisory:
Support in investment rounds, shareholder agreements, fund structuring, and analysis of public incentives (ANII, ANDE, URUCAP).
🔸 International Banking and Financial Management:
Account openings, KYC compliance, and design of efficient financial flows aligned with Uruguayan and OECD standards.
Carlos Picos Consultora
Legal, Tax, and Accounting Advisory.
Comprehensive solutions to invest, operate, and grow from Uruguay to the world.
