Business Service Centers
Uruguay features a series of crosscutting attributes for the development of business services, generating opportunities for the development of captive operations such as regional headquarters or service centers (e.g. foreign trade, supply chain, finance and accounting, human resources, customer services, research and analysis) in order to provide support to regional and global business.
The country is positioned as a reliable platform for the provision of high quality services at competitive costs. This has led international companies to establish service centers, improving their business processes and regional integration.
Many renowned international companies in different business verticals have developed this type of operation (e.g. Caterpillar's Finning, Sabre Holdings, RCI, Ocwen Financial Corp., Towers Watson, Louis Dreyfus Commodities, SKF, Tenaris, Trafigura, Syngenta, Basf) as well as companies from the pharmaceutical sector (e.g. Megafarma, Merck Serono, Roche).
Megafarma has set up its headquarters in the Science Park. Merck Serono has a shared service center in Zonamerica from where the company renders regional services in different areas such as marketing, quality, finance and legal affairs. It has also opened a shared services center for regulatory matters in the region and a supply chain service center supporting Head Office in the monitoring of worldwide supply activities. Roche has a logistics coordination center located in a free zone to manage the movement of its products between production plants and distribution sites in South America.
Uruguay offers a favorable business climate and social and political stability (projects continue regardless of the government in office); it has investment grade status granted by the main credit rating agencies and has experienced sustained GDP growth during the past 10 years. Investors access top quality services (such as the fastest downloading speed in LATAM), in an environment which ensures an excellent quality of life for executives and their families.
In Uruguay foreign and national investments receive the same treatment, there are no restrictions on the repatriation of capital or profits and investments can be made in national or foreign currency. Furthermore, there is an attractive tax regime for foreign operations focusing on foreign markets, together with the availability of qualified and multilingual (Spanish, English, Portuguese) human resources.
Map of major stakeholders