Yes, a foreigner can buy a property in Uruguay without restrictions, just like a Uruguayan citizen. To do this, you need a valid passport and the intervention of a public notary who will perform the review of the titles of the property and draft the contract of sale. The process includes a prior reservation to secure the agreement, followed by a notarized review of the title and finally the signing of the final deed.
Steps to buy a property
1. Choose the property:
Select the property you want to buy and agree the terms with the owner.
2. Reservation Contract:
A preliminary contract is signed which stipulates the price, payment method and deadline for the final deed. A deposit is given, which is held in a fiduciary account of the notary as security.
3. Notarial Review:
The notary reviews the ownership of the property, verifying that it is in order and has no encumbrances. This process can take several weeks.
4. Final Deed:
The final contract of sale is signed, the total price is paid and the possession of the property is delivered.
Key Aspects
There are no restrictions: Foreigners can acquire any type of property (houses, land, fields, etc.).
Documentation:
All you need is a valid passport.
Secure process:
The intervention of a public notary is essential as he protects the interests of both parties and is responsible for the legal certainty of the transaction.
Advice:
Notarial and legal advice is recommended throughout the process.
Means of payment:
The purchase can be financed by own funds or by bank transfers from abroad.
