In Uruguay, a Tax Haven With Lots of Beaches and Little Crime
The South American country’s new policies are attracting Argentines fleeing a deep economic crisis, and some Americans and Europeans, too.
La Tahona, a gated community near Montevideo.
Source: La Tahona
At the Atlantic resort of Punta del Este in Uruguay, signs of an influx of wealthy residents are everywhere. The yacht club is now busy year-round, enrollment in private schools has swelled, and Italian developer Cipriani is breaking ground on what it says will be the “largest luxury complex in South America.”
Wedged between Argentina and Brazil, Uruguay has long attracted wealthy visitors from both countries, especially during the summer months of December through February. But in recent years, more rich foreigners, including Americans and Europeans, have been putting down stakes.