Uruguayan laws gather all the existing business types of the world, with the possibility of organizing a new legal entity and establishing a foreign company branch. As for the organization of a new legal entity, the most frequently used business types are: Corporations and Limited Liability Companies.
Other less used corporate types are general partnerships (sociedades colectivas), limited partnerships (sociedades en comandita), labor and capital partnerships (sociedades de capital e industria) and De facto partnerships (sociedades de hecho). Furthermore, cooperatives, foreign branches, consortia and economic interest groups (GIEs, for its Spanish acronym) and, in the case of individual undertakings, single-member companies can also be organized. With the exception of consortia and single-member companies, every business type mentioned above as well as GIEs should have legal status.
Thanks to the program Company in a Day (Empresa en el Día), Corporations, Limited Liability Companies and Single-member Companies can organize a company in a single procedure, thus saving time and money.