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Uruguay

Uruguay
	Capital	Montevideo
	Population	3,477,778
	Area	176,220 sq km
	Language	Spanish, Portunol, or Brazilero
	Currency	Uruguay, Peso (UYU)
		100.000000$U (UYU) = 5.221932$ (USD)

Traditionally Uruguay has been much better off than other countries in Latin America. Uruguay was among the first nations to establish a welfare state, is know for its advances in education and has liberal laws governing social issues. Uruguay has an educated work force, a large middle class and is generally free of serious income inequality. Located by South American economic powerhouses Brazil and Argentina, Uruguay reaps both the benefits of their economic policies and feels their negative effects (such as Argentina’s economic downturn in 2002). While the recession of Argentina and Brazil’s economy has increased the poverty in Uruguay, it has also made prime real estate and the cost of living in Uruguay much less expensive.

Colonial towns, 400 kilometers of beaches and a beautiful sunny year-round climate are some of the other perks of living in Uruguay. There are three distinct geographies of Uruguay. The first is the city life of Montevideo where over 40% of the population lives. Montevideo has a decidedly European feel with its plazas, historic architecture and tiny cafes, theaters and Tango clubs lining the streets. The second is the beach life of almost 200 miles of clear blue wate,r lined with resorts and seaside communities (the most premier being Punta del Este). Finally Uruguay offers the slow and relaxing country life. Once you leave the coast, Uruguay is filled with mostly rolling green hills and large ranch estates and small town plaza where families come in the evening to socialize. No matter which option you chose, Uruguay’s sunny weather, low cost of living and friendly locals will surely convince you stay.

Top 3 Places to Live and Invest

Montevideo was recently named the second least expensive city in the world by Mercer HR consulting. Montevideo is the major metropolis in Uruguay, but it also has some very beautiful neighborhoods that could be from the streets of any European city. Currently the best place to buy inexpensive yet appreciating property is in Ciudad Vieja, the old town. Entry-level prices start at $40,000 for a refurbished ready to live in apartment and $65,000 for a house.

Punta del Este is the largest and most upscale resort in Latin America. The international rich and famous have had vacation homes here for decades. The majority of residents are either Argentines or Europeans who have bought into the stunning ocean views early, however with renewed international interest, there are new apartments springing up left and right (most run between $1000-2000 a square meter). Single-family homes for around $100,000 can still be found and even better values can be had less than a mile from Punta del Este, towards Montevideo or Brazil.

Piriapolis was Uruguay’s first seaside resort, located an hours drive east of Montevideo and 30 minutes west of Punta del Este. A 3-bedroom, 2-bathroom beach house with near perfect views of the ocean complete with new kitchen is on offer for $150,000. Flats in town with similar space and number of bedrooms (and all with fantastic views) range from $90-130,000.
 
Health and Senior Benefits

First aid assistance and the medicine that goes with it are free of charge in Uruguay. Once you are hospitalized you will need to pay for hospitalization and medicine. All public hospitals accept United States dollars and Uruguayan pesos and most take credit cards. The cost to go to a clinic is $50 and emergency ambulance service is $300. While health care is adequate and up to American standards in the bigger cities, it is not as cheap as some of the Asian or Central American countries, so many expats choose to buy private health insurance. There are two options for private health insurance. The first option is to become a member at one of the private hospitals ($50-100 a month) and the second option is to join a health company that gives national and international benefits where costs are a bit more expensive at $100-250 a month.

While Uruguay doesn’t have a set senior policy, it does offer a rather straightforward and reasonable residency procedure. The current income requirement is just $500 a month and new residents are allowed to bring in their household goods without duties or taxes. Many people also choose to go down to Uruguay on a tourist visa, buy property and then apply for permanent residency. Uruguay also does not tax foreign earned income, pensions, social security or any other money that is generated outside of Uruguay.

Safety and Infrastructure

Uruguay is safe and known for having the lowest rate of crime in Latin America. Uruguay is also political and economically stable. Safety is the main reason why expats from other South American countries chose to move to Uruguay. Also keep in mind that being the safest country in Latin America is also relative as there are still purse snatchings and pick pocketings. Robberies in the upscale neighborhoods of Montevideo are on the rise but perpetrators are mostly non-confrontational; it is advised to use a security system. Police have increased in residential areas and patrol cars are clearly marked with cell phone numbers painted on the outside.

Uruguay has a first world infrastructure. The water is clean to drink, the banks can be trusted (never having resorted to freezing, expropriating or forcing a currency exchange of deposits in tough economic times), and in 2008, this stable economy has had a greater percentage increase of economic growth than any other country in Latin America. Uruguay has good roads, safe public transportation, large cell phone coverage and availability of high-speed Internet. This small nation also boasts the second lowest level of corruption in the Latin America. The government is improving airports and seaports in order to further its economic growth and position as an international business center.

Culture and People

Most Uruguayans are of European origin, mainly of Spanish and Italian decent. The minority of Uruguay is African or mixed European-indigenous descent and form a higher proportion of is poorest people. The social climate of Uruguay is one that many people from the United States and Europe find favorable. Uruguay has the most highly educated population and largest middle class in Latin America. The people of Uruguay are generally friendly and tolerant with a strong European culture. This is a very urban culture, with 40% of the 3.3 million people living in Montevideo.

Uruguay also has an impressive legacy of artistic and literary traditions, particularly for its small size. The Uruguayan people revel in the art of theater, musical and dance tradition. In Uruguay people like to Tango, and they Tango well! The gaucho (South American cowboy) culture is also alive and thriving further inland in Uruguay. Gauchos still dress in the traditional clothes as generations ago and have their own music and dance. Their lifestyle is based on pride, dignity, integrity and national honor. The official language in Uruguay is Spanish, although Portuguese and Portunol (a mix of Spanish and Portuguese) are widely spoken. English has influenced the language of technology and slang used by the young people.

Uruguay is also the first country in Latin America to ban smoking in all public places.

Average Monthly Budget for a Couple in Montevideo, Uruguay

Rent for a 2-bedroom apartment in a nice part of town: $800
Daily maid service (Monday-Friday, 8 hours a day): $250
ADSL Internet: $35
Telephone (1 landline, 2 cell phones): $65
Cable TV: $25
Water: $12
Electricity: $100
Gas: $50
Private Health Insurance: $200
Food: $200
Transportation (2 cab rides a day, averaging $3 a ride): $180
Total: $1917 per month