🇺🇾 Uruguay vs 🇧🇷 Brazil · Investor
Brazil or Uruguay for investors?
Uruguay doesn't sell residence for investment: it grants permanent residence to people with steady income, and uses investment for tax status. Since January 2026, that tax benefit costs far more.
In short
Brazil grants investor residence from R$150,000 (innovation), R$500,000 (company) or R$700,000–1,000,000 (property). Uruguay grants permanent residence on stable income — around US$1,500 a month for one person in practice — with no investment required. Its 11-year tax holiday now needs a new urban property worth about US$2 million, about US$100,000 a year into approved funds, or more than 183 days a year in the country.
Side by side
| 🇧🇷 Brazil investor residence | 🇺🇾 Uruguay (residence plus investment-based tax status) | |
|---|---|---|
| Minimum investment | Company: R$500,000 (about US$97,000). Innovation project: R$150,000 (about US$29,000). Urban property: R$1,000,000 (about US$194,000), or R$700,000 (about US$136,000) in the North and Northeast | None for immigration residence. Tax residency by property: from about US$570,000–590,000. Tax holiday: a separate urban property over UI 12.5 million (about US$2 million) bought from January 1, 2026, or about US$100,000 a year into approved funds |
| What you get | Company route: indefinite residence from the start. Property route: 4 years, then indefinite | Permanent residence based on stable income from abroad; tax status is a separate decision |
| Time in the country | Property route: at least 14 days in Brazil in every 2 years | No minimum to keep residence; citizenship needs real presence |
| Citizenship | Naturalization after 4 years of indefinite residence (shorter in some family cases). Brazil allows dual nationality | After several years of legal residence and real presence; there's no citizenship by investment |
| Where you apply | From abroad before the visa, or from inside Brazil | Immigration residence through Uruguay's National Migration Office; tax status with the tax authority (DGI) |
| Family | Spouse and dependants can be included | Couples and families show higher income (around US$2,500 a month for a couple) |
| Tax | Tax resident once you hold residence and stay; worldwide income taxed at up to 27.5%. Income up to R$5,000 a month is exempt from 2026 | Tax residents who don't get the holiday pay 12% on most foreign capital income since 2026 |
Which one fits you
🇧🇷 Brazil
Choose Brazil if you want residence tied to an investment you control — a company, a startup or property — at a much lower cost than Uruguay's tax holiday.
Check my Brazil optionsInvestor visa calculator →Tax residency check →Brazilian naturalization →🇺🇾 Uruguay
Choose Uruguay if you have steady income and want permanent residence without investing, and you've planned your tax position before you move.
Worth knowing
- Uruguay's Budget Law 20.446 rewrote the tax holiday from January 1, 2026: the property route rose from about US$590,000 to about US$2 million.
- The property used for the tax holiday must be different from any property used to obtain tax residency.
- Immigration residence and tax residence are separate in Uruguay: you can hold residence without becoming tax resident if you stay under 183 days and keep your centre of interests elsewhere.
Rather talk to an immigration lawyer first?
Send a short note to an independent immigration lawyer who uses Emigro. If they offer a paid call, you can pick a time on their calendar right away; otherwise they reply by email.
Official sources
Resolution CNIg nº 13/2017 (company investment), Ministry of Justice ↗
Resolution CNIg nº 36/2018 (property investment), Ministry of Justice ↗
Residency, Ministry of Foreign Affairs of Uruguay ↗
Checked against official sources on October 25, 2026. Emigro gives preliminary guidance, not legal advice. Emigro is a private company, not affiliated with any government. Emigro is not a law firm and does not provide legal services. Lawyers listed are independent, registered with the OAB, and solely responsible for their advice. Rules for countries other than Brazil are summarized for comparison; confirm them with a qualified adviser in that country.
Common questions
Does Uruguay have an investor visa?
Not as such. Residence is based on stable income. Investment matters for tax residency and the tax holiday.
What does Uruguay's tax holiday cost now?
Since January 2026: a new urban property worth about US$2 million, about US$100,000 a year into approved funds, or more than 183 days a year in Uruguay.
Which is cheaper for residence?
Uruguay needs no investment if your income is steady. Brazil's cheapest investor route is R$150,000 for an innovation project.
Which taxes foreign income less?
Uruguay, if you qualify for the holiday. Without it, foreign capital income is taxed at 12%. Brazil taxes residents' worldwide income at up to 27.5%.
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