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Office | Introduction | Information URUGUAY ![]() Uruguay has maintained enviable economic and political stability in a turbulent region and could be considered the “Switzerland” of South America. It is now recovering from the blow to its economy from the difficulties in its neighbour and major trading partner, Argentina. It is popular with tax planners as a ‘white list’ jurisdiction, with a strong tradition of banking secrecy. Its offshore company legislation dates back to 1948 when the Sociedad Anonima Financiera de Inversion -- or SAFI -- came into being. But the age-old SAFI is not all that Uruguay has to offer: 1987 saw the arrival of the SAZF -- the Uruguayan Free Trade Zone Corporation.
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