Uruguay as a regional financial center

Uruguay's banking system is a solid one, characterized by:

  • Lack of exchange controls, transfer of funds restrictions or profit remittance limits.
  • Strict banking secrecy.
  • An easy process for foreign nationals or companies to open bank accounts.

Uruguay's financial system is comprised of banks, financial houses, offshore banks and representative offices of foreign banks. All of the above types of institutions require the authorization to operate by Uruguay's Central Bank. The following is a list of the institutions that actually operate in Uruguay (with years of installation in the country indicated):

Banks:

Private banks

  • Banco Santander S.A.
  • Banco Bilbao Vizcaya Argentaria Uruguay S.A.
  • HSBC Bank (Uruguay) S.A.
  • Citibank N.A. Sucursal Uruguay.
  • Lloyds TSB Bank plc.
  • Banco Bandes Uruguay S.A.
  • Banco Itaú-BBA S.A. Sucursal Uruguay
  • Crédit Uruguay Banco S.A.
  • Nuevo Banco Comercial S.A.
  • Discount Bank (Latin America) S.A.
  • Banco Surinvest S.A.
  • Banco de la Nación Argentina

Government-owned banks

  • Banco de la República Oriental del Uruguay (BROU)
  • Banco Hipotecario del Uruguay (BHU)

Financial houses

  • OCA Casa Financiera S.A.
  • Hapoalim (Latin America) S.A.
  • Leumi (Latin America) S.A.
  • Exprinter (Uruguay) S.A.
  • BAPRO URUGUAY

Offshore banks

  • Banco Patagonia (Uruguay) S.A. I.F.E.
  • Deutsche Bank S.A.-Banco Alemao (Uruguay) I.F.E.
  • Banca Privada d'Andorra (Uruguay) S.A. I.F.E.
  • Safra (Uruguay) S.A.
  • Merrill Lynch Bank (Uruguay) S.A.

Representative offices of foreign banks

  • Sud Bank & Trust Company Limited - Nassau
  • SG PRIVATE BANKING (SUISSE) S.A
  • UBS AG - Basilea y Zurich
  • HSBC Bank USA, National Association
  • Credit Suisse Schweizerische Kreditanstalt - Zurich
  • Banque Privée Edmond de Rothschild S.A. - Ginebra
  • Bank Of New York-Inter Maritime Bank - Ginebra
  • Man Investments AG - Suiza
  • Lloyds TSB Bank Plc - Sucursal Ginebra
  • Bank Leu AG - Zurich
  • Santander Bank & Trust Ltd.
  • BSI S.A. - Lugano
  • Crédit Agricole (Suisse) S.A.
  • Royal Bank of Canada de Montreal - Montreal
  • Coutts Bank von Ernst Ltd. (Zurich)
  • UEB United European Bank - Ginebra
  • Safra National Bank of New York - New York
  • Bank Hofmann AG de Zurich - Zurich
  • American Express Bank Limited - New York
  • BBVA (Suiza) S.A.
  • HSBC Private Bank (Suisse) S.A.
  • LGT Bank (Switzerland) Ltd.
  • LGT Bank in Liechtenstein Ltd.
  • Mizrahi Tefahot Bank Ltd.(Tel Aviv)