A Large Productive Farm in Uruguay

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Uruguay’s world first in cattle farming

Uruguay is sometimes described as “one big farm”. It’s a country, albeit a small one, where cattle outnumber people by four to one and farming is the most important part of the economy. Uruguay is now the only country in the world with a completely computerised traceability system – meaning consumers at home and abroad know exactly where their beef comes from and how it was raised. In a world first, all cattle in this country are now electronically tagged at birth in the first completely traceable meat process. The system has already cost Uruguay U$70 million ($3m; £1.9m) to implement but it has helped to reinforce the country’s reputation as the world’s premier supplier and producer of quality beef.BBC By Wyre...

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The Selling Price

The key for selling a property quickly and well in Uruguay is the right price.  We are used to see selling prices in online ads, in print and through word-of-mouth. The  theoretical market price is reflected in these actions. On the contrary the real market price is the  combination of different variables such as a strong expertise of  the Uruguayan real estate market, a deep knowledge of the international investors’ needs and their interests,  a competitive intelligence, information from our 8 offices in Uruguay and of course  the budget of purchasers. If you are looking for the best overseas property investments.. it is time to talk to us: info@puntadelesteinvestments.com...

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High Net Worth Individuals (hnwi)

While the Far East and Middle East continue to generate hnwis we have noticed a growing trend for a move toward less politically and economically ‘volatile’ areas of the World such as Uruguay which provides that hemisphere’s most stable Banking and investment options.   Luxury property and productive farms in a country of just over 3.5 Million, is proving a profitable investment option to the hnwis especially since its economy has remained solid throughout recent world upheavals. Policies toward the environment and sustainability as well as security and privacy are priority for the Uruguayan authorities.By Mary de Sojo – Arab Business...

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Record Total Sales of Farm Lands in Uruguay: 1.3bn dollars

Farm land sales in Uruguay had a record  of 1.3bn dollars in 2013, involving 1.868 operations and 370.927 hectares, which is 10% more than in 2012, according to the Ministry of Agriculture, Livestock and Food ministry’s Stats Office, DIEA. Uruguay’s farmland covers approximately 17 million hectares..” ..”Three counties concentrated the most productive lands and sales, 33% and 29%, (124.172 hectares and 384 million dollars) during 2013: Tacuarembó, Lavalleja and Rivera. The best farmlands for crops are not in any of those three counties but in Soriano which is one the most fertile region. The average sale price in Soriano for an acre was 6.565 dollars, followed by neighboring Colonia and San Jose with 6.079 and 5.974 dollars respectively. This area to the southwest of Uruguay has high-yield crops and dairy farming. Source: Uruguayan Ministry of Agriculture and...

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Making the best overseas property investments in Uruguay – Part 1

Structure of the Real Estate Operations –  The Preliminary Agreement –  It is customary that the parties, upon reaching an agreement on the commercial terms for the purchase of any kind of real property (whether a house, an apartment, farm or agricultural land), execute a preliminary agreement (Boleto de Reserva). With the execution of such preliminary agreement, a percentage of the purchase price -usually 10%- is deposited by the buyer with the acting notary – escribano – , to be kept in escrow as security for the compliance of the obligations of the buyer under the agreement and released in the moment in which the agreed transaction is executed. It is common practice that preliminary agreements will establish a 30-day term for urban properties or 60 day term for agricultural land to conduct due diligence work and title search to confirm good and clean title in the name of the seller. Such terms are not mandatory and other may be agreed upon. It is also common that the agreement provides that upon the existence of substantiated observations to the title deeds with respect of which the parties do not reach an agreement the matter be deferred to the opinion of the Uruguay Notaries Association – Asociación de Escribanos del Uruguay -.  Some preliminary agreements establish that the buyer may unilaterally desist of the operation if said buyer’s notary formulates...

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Making the best overseas property investments in Uruguay – Part 2

Structure of the Real State Operations  – The Registered  Promise of  Sale Uruguayan law contemplates, in case of real estate transactions where the purchase price is to be paid in installments or where there are deferred obligations to be complied with by the parties, the execution of a promise of sale (compromiso de compraventa), which principles are regulated by law 8,733. This promise of sale shall be executed before the notary appointed by the buyer – substantially in the form of a definitive purchase agreement – and, upon registration, shall grant full protection and preemption to the rights of the buyer over the real estate property over any other right subsequently created regarding such property: attachments or encumbrances, purchase and sale or lease agreements affecting the property or any other circumstance which could affect the property right of the seller or its right to dispose of its property. Additionally, the buyer is entitled to assign to third parties his or her rights acquired in virtue of this promise of sale.   This law further stipulates that, if the seller were to default in its obligation to execute the purchase agreement or were unable to do so for any reason (including death), the pertinent court, upon verification that the purchase price has been either paid in full or deposited with such court, shall execute the purchase agreement in the name...

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Making the best overseas property investments in Uruguay – Part 3

Structure of the Real Estate Operations – The Purchase Agreement   Real estate purchase agreements must be executed before an escribano in the form of a public deed which is entered into said notary’s book. The role of the notary is not only limited to the drawing up of the agreement and its authorization under his signature and seal. The notary further acts on behalf of the state as a controlling agent that confirms that the seller is up to date with the payment of certain taxes, that all pension funds contributions related to the construction of the premises which are part of the property have been paid as per certain certifications issued by the pension funds institution, that all necessary permits and authorizations have been obtained, etc. Reference to such controls as well as the inclusion of other clauses in the purchase agreement is mandatory for the due registration of purchase agreement in the Real estate Public Registry. Additionally certain taxes to be paid at the execution of the agreement are collected by the notary  who will be responsible for their subsequent payment to the tax authorities. Registration of the purchase agreement with the pertinent registry will cause it to be valid and enforceable against third parties as of the date of registration. If not registered, the agreement will only be valid between the parties thereto. If you’re...

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Advantages of Investing in Properties Abroad: Farmlands in Uruguay – Part 1

Quality of the Soil – Almost 90% of the country’s surface is ideal for agricultural and livestock farming, a key source of export revenues Semi Tropical Climate: an exceptionally fine temperate climate, with mild Summers and Winters Two crops per year World largest aquifer beneath region The country is mapped with soil types classified according to their productivity Farms and Lands at exceptionally Prices...

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Advantages of Investing in properties abroad: Farmlands in Uruguay – Part 2

  Foreign property Investment : Uruguay,  A global Player   6th Exporter of Soja                     5 % of global Beef Exports                 5th Exporter of Dairy Products                 4th Exporter of Rice      ...

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