Buying in Punta del Este as an Argentine: Key Points of the Deal

For a person resident in Argentina, the purchase combines a Uruguayan real-estate deal with banking controls and tax obligations in both countries. It's worth organizing those matters before handing over a reservation.

Can an Argentine buy property in Uruguay?

Law No. 16,906 establishes that foreign investments receive the same admission and treatment regime as domestic ones and are admitted without prior authorization or registration (IMPO, Investment Law, articles 2 and 3). In an ordinary urban residential purchase, Argentine nationality does not by itself require first obtaining Uruguayan legal or tax residence.

That doesn't remove the need to study the case. The land type, the parcel, a corporate structure, a trust or other features may require additional checks. The notary must confirm the buyer's capacity and the legal standing of the specific property.

The legal possibility of buying is not the same as banking approval either. The route of the money and its documentation are coordinated before signing.

How to prepare the transfer of funds from Argentina

Argentine foreign-exchange regulations can change. The BCRA's current information indicates that operations must be carried out through an authorized entity, which will verify the genuine nature and the proper classification of the operation. It also publishes the current conditions for individuals' access to the exchange market (BCRA, Foreign Trade and Exchange regulations).

Before transferring, ask the Argentine entity for confirmation of the concept, the requirements and the limits applicable that day. Don't use a route designed for another taxpayer or assume that a previous procedure is still in force.

On the Uruguayan side, the BCU's rules establish that access to the exchange market is free, subject to tax and anti-money-laundering requirements. Circular No. 2322, of January 17, 2019, must be read together with the institution's current compilation (BCU, operations regulations).

The bank may ask for information about identity, address, activity and the origin of the funds (BCU, depositor's rights and obligations). Depending on the case, prepare:

• identity document, address and tax residence;
• statements that allow the buildup of the balance to be traced;
• support for the activity or event that generated the funds;
• the contract or document explaining the purpose;
• identification of the origin and destination accounts;
• translations, legalizations or apostilles requested by the professionals or banks.

A transfer coming from another institution doesn't prevent the Uruguayan bank from requesting additional documentation.

What happens to the money from a future sale

Law No. 16,906 guarantees the free transfer abroad of capital, profits and other sums linked to the investment, in freely convertible currency (IMPO, Investment Law, article 5). This doesn't mean the gross price is available without controls.

The transferable amount will be the net proceeds after taxes, costs, debts and withholdings. The bank may again review the deed, the title, the origin of the investment and whether the amount matches. From the moment of purchase, keep the transfer receipts, the invoices for improvements and the tax assessments.

Do you need a bank account in Uruguay?

It's not a requirement derived from nationality in order to be an owner, but it may be necessary for the payment route and for later operations. Opening one is not automatic.

The BCU reports that a legally capable individual or entity may request an account and that the institution will require data to know the client and their economic-financial situation (BCU, deposits and account opening). Before reserving, confirm in writing the account accepted, the currency, the holder, the concept and the documentation required.

Uruguayan taxes for a non-resident individual

Tax residence is not the same as nationality or legal residence. The following points describe a non-resident individual; a company or another structure may receive different treatment.

IRNR on the rental

Seasonal rental is subject to IRNR. When a withholding agent takes part, such as a real-estate agency, the DGI reports a monthly withholding of 10.5% of accrued income. Without an agent, the taxpayer must make the corresponding advances and filings. The option to make them final has conditions that must be reviewed in the official guide (DGI, seasonal rentals of non-resident owners).

The withholding is not the net return. Commission, common expenses, maintenance and periods without bookings still affect the economic result.

Net Worth Tax

The obligation and the rate depend on the taxable net worth, the valuation and the taxpayer's situation. For the year ended December 31, 2025, the DGI published a general threshold of UYU 6,653,000 and a general rate of 0.10%. It also published a different scale, from 0.70% to 1.50%, exclusively for non-residents who do not pay IRNR (DGI, Net Worth Tax rates 2025).

Those figures aren't applied as a direct percentage of the purchase price. The DGI sets fiscal valuation rules and a particular treatment for leased property. An accountant must determine whether there's an obligation, what value applies and which scale is applicable.

IRNR on selling

The sale may generate IRNR on the capital gain. The DGI uses Form 1700 to declare, among other items, the ITP and the category-1 IRPF or IRNR on transfers of urban property (DGI, information on Form 1700).

Don't calculate the tax by applying a rate to the gross price. The computable gain may depend on the date and fiscal cost of acquisition, documented improvements and other rules. The notary and the accountant must assess it for the specific deal.

Costs of the purchase

In an onerous sale, the DGI reports an ITP of 2% for the buyer and another 2% for the seller. For real estate, the base starts from the real value set by the Cadastre and updated according to the tax rule, not necessarily from the agreed price (DGI, Property Transfer Tax).

The other costs must be budgeted for that deal:

• notarial fees and contributions;
• real-estate commission and associated taxes;
• registration fees;
• banking and correspondent costs;
• currency conversion, where applicable;
• certificates, powers of attorney, apostilles and translations.

Ask for an itemized statement indicating currency, base, who is liable and when payment is due. Don't add up percentages that are calculated on different bases.

Buying from a distance

The search, video visits, the exchange of documents and the title study can be coordinated without traveling. Some signatures may be executed through a sufficient power of attorney, but its content and formalities depend on the acts it authorizes and on where it's signed.

The Uruguayan notary must prepare or approve the power of attorney before it's granted. The bank may also require appearance, identification or its own documentation, even if the power is valid for the sale.

Own use and rental

If you buy to use, record how much time you reserve for yourself and how much it costs to maintain the home. Personal enjoyment is not cash income.

If you plan to rent, ask for bookings actually collected, common expenses, management, cleaning, taxes and maintenance. Don't project the highest rate over periods with no proven demand, or present a possible appreciation as an assured result.

Buying property and tax residence

Buying doesn't automatically grant Uruguayan tax residence. The DGI publishes several grounds and, among those linked to real estate, requires additional amounts and conditions. These include an investment exceeding UI 15,000,000 or, for certain acquisitions, an investment exceeding UI 3,500,000 together with physical presence of more than 60 days in the calendar year (DGI, tax-residence certificate and grounds).

The way you acquire, the date, direct ownership and documentary evidence also matter. Legal residence, tax residence and optional regimes for new residents are separate analyses.

Since January 1, 2026, Uruguay incorporated into the IRPF new categories of foreign-source capital income earned by resident individuals (DGI, foreign-source income added to the IRPF). Before changing tax residence, ask for a coordinated analysis of Uruguay and Argentina.

Frequently asked questions

Can property be expropriated in Uruguay?

Property is an inviolable right subject to laws of general interest; expropriation exists, but the Constitution limits it to cases of public need or utility established by law and requires a just and prior compensation (IMPO, Constitution of the Republic, article 32). The notary must review encumbrances, easements and plans applicable to the parcel.

Do I have to open a Uruguayan account?

Not merely by buying. It may be necessary to pay for or manage the property, and the bank will carry out its own checks. Define the route before handing over the reservation.

Can I transfer abroad the money from a sale?

Uruguayan rules provide for the free transfer of sums linked to the investment. In practice, the net proceeds are transferred, after taxes, costs, debts and banking controls are addressed.

Does an Argentine tax resident declare the property under Personal Assets (Bienes Personales)?

ARCA reports that individuals resident in Argentina are covered for their assets located in the country and abroad, and that the obligation depends on the net worth valued at December 31 and on the period's threshold (ARCA, Personal Assets basics). The valuation and any effect of treaties or analogous payments must be reviewed with an Argentine accountant.

Does the purchase give me Uruguayan tax residence?

Not automatically. It can form one of the grounds if the amount, the date, the form of acquisition and the other conditions published by the DGI are met.

To continue the analysis:

• How to Buy in Punta del Este From Abroad Without Getting Scammed
• Seasonal Rental in Punta del Este: How to Estimate the Net Return

General information reviewed against official sources available as of August 21, 2026. Banking, exchange and tax rules can change and depend on the owner; before reserving or transferring funds, seek a review from a Uruguayan notary, an accountant in each country and the banks involved.