Nikolai Timofejev
15 years in FinTech and payments. Maps your business model to the right licence scope and leads the file all the way to the BCU decision, including banking and payment rails.
Get a crypto license in Uruguay.
Uruguay now authorises crypto. Law No. 20.345 brought virtual-asset service providers under the Banco Central del Uruguay, and the final regulations landed in July 2026. Existing operators apply between 1 September 2026 and 31 March 2027; new ones must be authorised before they start. One of the region's most stable states has a real regime - and we build the file end to end.
27 yrs
on the international marketon the market
60+
in-house specialistsspecialists
400+
Crypto licenses obtainedlicenses obtained
Updated
Uruguay in brief
Latin America's steady hand, now licensing crypto.
Uruguay put crypto on a legal footing in 2024. Law No. 20.345, the Virtual Assets Law, brought virtual-asset service providers under the Banco Central del Uruguay, supervised through its Superintendencia de Servicios Financieros. The Central Bank approved the final regulations for these providers in July 2026, completing the framework: authorisation, corporate governance, systems, anti-money-laundering and ongoing supervision for firms that exchange, transfer, custody or otherwise handle virtual assets. This is a real authorisation from a serious central bank, not a company slipped into a grey zone.
The application timetable is clear. Firms already carrying out these activities can submit their authorisation request to the BCU between 1 September 2026 and 31 March 2027, and may keep operating while the Central Bank reviews the file; new operators must obtain authorisation before they begin. Behind the rules sits one of Latin America's most stable, least-corrupt states, with strong institutions, a free-zone regime and a habit of doing cross-border business carefully. We build the file end to end, from the Uruguayan company to the BCU authorisation, and manage the application window for firms already trading.
Uruguay now authorises crypto: Law No. 20.345 brought VASPs under the Banco Central del Uruguay, with final regulations approved July 2026. Supervision sits with the Superintendencia de Servicios Financieros.
Existing operators apply between 1 Sep 2026 and 31 Mar 2027 and may keep trading during review; new operators authorise before they start. Behind it: one of the region's most stable states.
The regime
A BCU authorisation, scoped to your activity.
Law No. 20.345 and the BCU regulations cover a defined set of virtual-asset activities under the Central Bank. The first job is scoping which your model needs; the second is building the file to the BCU's standard. We do both.
Law 20.345 covers a defined set of virtual-asset activities under the BCU - we scope which your model needs.
01 - BCU · CORE ACTIVITIES
Exchange, custody, transfer
The core of the regime: exchanging virtual assets against fiat or other assets, custody and safekeeping, and transferring virtual assets for clients - authorised and supervised by the BCU through its Superintendencia de Servicios Financieros.
The core of the regime: exchanging virtual assets against fiat or other assets, custody and safekeeping, and transferring virtual assets for clients - authorised and supervised by the BCU through its Superintendencia de Servicios Financieros.
- ✓Exchange of virtual assets and fiat
- ✓Custody and safekeeping of client assets
- ✓Transfer of virtual assets for clients
- ✓AML/CFT to BCU standards, with reporting
- ✓Corporate governance and internal controls
- ✓Ongoing BCU supervision
02 - BCU · MARKETS & ISSUANCE
Application window openTrading, advice, issuance
The regime also reaches trading-venue activity, advice and portfolio services and the issuance of virtual assets. Where your model runs a market or creates assets, the BCU authorises that scope alongside the core services.
The regime also reaches trading venues, advice and issuance - authorised alongside the core exchange and custody services.
- ✓Operation of a trading venue
- ✓Advice and portfolio services
- ✓Issuance of virtual assets
- ✓Disclosure and conduct duties
- ✓Governance and fit-and-proper ownership
- ✓One regulator - the BCU
Costs and timelines are confirmed for your case before any work begins. The BCU sets requirements by activity; the real investment is the file - capital, substance and documentation are scoped individually in your quote.
Why Uruguay
A serious regulator, in a stable state.
The framework rests on Law No. 20.345, supervised by the Banco Central del Uruguay - inside one of Latin America's most stable and best-governed economies.
✓
A central-bank authorisation
Supervision sits with the Banco Central del Uruguay through its Superintendencia de Servicios Financieros. A BCU authorisation carries the weight of a respected central bank, which is what banks and counterparties read.Supervised by the BCU through the SSF.
✓
Stability and institutions
Uruguay is regularly ranked among Latin America's most stable and least-corrupt states, with independent courts and durable policy. That predictability is the base a licensed business is built on.Among Latin America's most stable, least-corrupt.
✓
A clear statutory regime
Law No. 20.345 and the 2026 regulations replaced ambiguity with a defined authorisation. You build against a statute and rules, not a guidance note - the certainty a new-but-defined regime provides.Law 20.345 plus 2026 regulations - defined.
✓
A defined application window
Existing operators have a fixed window - 1 September 2026 to 31 March 2027 - to file and may keep trading while the BCU reviews. New operators authorise before they start. The path is set out in the open.1 Sep 2026 - 31 Mar 2027 for existing operators.
✓
25%, with a free-zone route
The corporate rate is a clean 25%, and Uruguay's free-zone regime can bring qualifying activity to 0%. We model both against your operating plan rather than assume the headline.0% for qualifying free-zone activity.
✓
A gateway that behaves
A small, open economy that does cross-border business carefully, with a stable currency backdrop and wide use of the US dollar. A credible base for the region, without the volatility of larger neighbours.Open economy, stable backdrop, wide USD use.
How it compares
How Uruguay differs from other routes.
Uruguay is the stable, central-bank-supervised option in Latin America, with a fresh authorisation regime and a clear window. The honest comparison is below.
Uruguay vs other jurisdictions
| Feature |  Uruguay | Other jurisdictions |
|---|---|---|
| Regulatory regime | BCU authorisation, Law 20.345 | Registries or single regulators |
| Supervision | Central bank (SSF) | Ranges widely |
| Stability | Strong institutions, low corruption | Varies |
| Corporate tax | 25% · 0% free-zone | Ranges widely |
Regulatory regime
UruguayBCU authorisation, Law 20.345
Other jurisdictionsRegistries or single regulators
Supervision
UruguayCentral bank (SSF)
Other jurisdictionsRanges widely
Stability
UruguayStrong institutions, low corruption
Other jurisdictionsVaries
Corporate tax
Uruguay25% · 0% free-zone
Other jurisdictionsRanges widely
Country by country
| Country | License type | Taxation | Requirements |
|---|---|---|---|
| Uruguay | BCU authorisation (Law 20.345) | 25% · 0% free-zone | New regime, window from Sep 2026 |
 Argentina | CNV PSAV registry | Up to 35% corporate | Registration, supervised |
 Brazil | BCB under Law 14.478 | ~34% combined | Framework phasing in |
 El Salvador | CNAD digital-asset licence | Incentives for digital assets | Licensed, crypto-friendly |
UruguayLicense typeBCU authorisation (Law 20.345)
Taxation25% · 0% free-zone
RequirementsNew regime, window from Sep 2026
ArgentinaLicense typeCNV PSAV registry
TaxationUp to 35% corporate
RequirementsRegistration, supervised
BrazilLicense typeBCB under Law 14.478
Taxation~34% combined
RequirementsFramework phasing in
El SalvadorLicense typeCNAD digital-asset licence
TaxationIncentives for digital assets
RequirementsLicensed, crypto-friendly
Before you apply
Requirements for the BCU authorisation.Requirements for the BCU authorisation.
The BCU reviews an authorisation file to a central-bank standard, and the 2026 regulations fill in the detail. The checklist below is what a serious file is built around - we confirm each item against the current rules.
01
Uruguayan entity - a locally incorporated SA or SAS with genuine presence and management in Uruguay.
02
Authorisation scope - the virtual-asset activities your model needs, defined and applied for.
03
Fit & proper management - competent directors and officers with clean records, to the BCU's standard.
04
Capital - as the BCU requires for your activity and risk profile.
05
AML/CFT framework - KYC, EDD, monitoring and reporting to the UIAF, with a named compliance officer.
06
Custody and safeguarding - segregation of client assets, custody policy and key-management design.
07
Corporate governance - ownership disclosed to UBOs, internal controls, conflicts and complaints procedures.
08
Systems and security - resilient technology and record-keeping the BCU can inspect.
09
Business plan - services, target markets, volumes and financials the BCU can interrogate.
10
Application window - existing operators filing within 1 September 2026 to 31 March 2027; new operators authorised before starting.
11
Wind-down plan - credible and documented.
01
Uruguayan SA or SAS with genuine presence.
02
Authorisation scope under Law 20.345.
03
Fit & proper directors and officers.
04
Capital - as the BCU requires.
05
AML/CFT with a named officer, UIAF reporting.
06
Custody and safeguarding of client assets.
07
Corporate governance and UBO disclosure.
08
Resilient systems and record-keeping.
09
Business plan the BCU can test.
10
Filed within the 1 Sep 2026 - 31 Mar 2027 window.
11
Credible wind-down plan.
Reflects Law No. 20.345 and the BCU regulations approved in 2026, as of 2026. New operators must be authorised before commencing; existing operators file within the window.Law No. 20.345 + BCU regulations (2026), as of 2026. New operators authorise before starting.
How it works
From first call to the BCU authorisation.
01
Perimeter and strategy
We map your services to the virtual-asset activities under Law 20.345 and fix scope, capital and timeline in writing against the BCU regulations.Activities, scope, capital - in writing.
02
Uruguayan company and substance
SA or SAS formation, registered office, directors and the governance layer - the presence the BCU assesses behind the file.SA or SAS, office, directors.
03
The application file
AML/CFT framework, custody and systems documentation, corporate governance and capital - assembled to the BCU's standard.AML, custody, governance, capital - BCU-grade.
04
BCU review
The application and question rounds with the Superintendencia de Servicios Financieros - filed within the window for existing operators so continuity holds.Application and question rounds; window managed.
05
Authorisation and operations
The BCU authorisation granted and the business live under the law, with ongoing AML and reporting duties we can keep running.Authorisation granted; ongoing duties we can run.
Quick facts
RegulatorBCU (SSF)
FrameworkLaw No. 20.345
RegulationsApproved July 2026
Window1 Sep 2026 - 31 Mar 2027
New operatorsAuthorise before start
Corporate tax25%
Free-zone0% qualifying
SubstanceUruguayan company + presence
The regulations are fresh and the BCU is applying them for the first cohort - we build to the current standard and are candid about what is still settling.
On the ground in Uruguay
Run from our Dubai office, with Uruguayan counsel.
Prifinance - Uruguay desk
Montevideo · Uruguay
Montevideo, Uruguay
01
Uruguayan incorporation
SA or SAS formation and the corporate layer the BCU expects - structured for the authorisation application, free-zone route where it fits.SA or SAS for the authorisation application.
02
The authorisation file
AML/CFT framework, custody and systems documentation, corporate governance and capital - drafted by us and built to the BCU regulations.AML, custody, governance, capital - to standard.
03
Substance and governance
Directors, compliance staffing and the local presence the BCU assesses - assembled pragmatically.Directors, staffing, local presence.
04
Window management
For firms already trading, the application filed within the 1 September 2026 to 31 March 2027 window, with continuity protected while the BCU reviews.Filed within the window; continuity protected.
We also have offices in
Tallinn
Estonia
Roseni 13
Vilnius
Lithuania
Gedimino pr. 2
Prague
Czech Republic
Vlkova 532/8, Žižkov
London
United Kingdom
7 Bell Yard
Dubai
UAE
33 Level, Al Saqr Business Tower
Madeira
Portugal
Rua da Alegria 31, 1F
Istanbul
Turkey
Perpa Ticaret Merkezi, A Blok
Good to know
Taxation of crypto companies in Uruguay.
Company profits carry Uruguay's 25% corporate rate, and the free-zone regime can bring qualifying activity to 0%. We model both honestly against your operating plan.
25% corporate rate (IRAE)
Standard corporate income tax is 25% on company profits, with ordinary deductions - a clean base figure to model for the licensed business.A clean figure to model.
Free-zone 0% route
Uruguay's free-zone regime can bring qualifying activity to 0% corporate tax, subject to conditions on substance and the type of activity. We test whether your model genuinely fits before relying on it.For qualifying activity, subject to conditions.
A largely territorial system
Uruguay taxes Uruguayan-source income as the rule, with specific treatment for certain foreign-source income. We map where your revenue arises rather than assume an outcome.Uruguayan-source income the rule.
VAT (IVA) on domestic supplies
VAT applies to supplies within Uruguay in the usual way. We map it onto your activity so nothing surprises the operating model.Mapped onto activity, not assumed away.
Cross-border and treaties
Uruguay has a growing treaty network. Cross-border flows are structured deliberately for a business with international counterparties, not left to chance.Flows structured deliberately.
Records serve both
The AML and authorisation record-keeping the regime requires also underpins the tax position - regulator-grade books double as tax-office-grade books.Regulator-grade books serve tax too.
Tax summary
Corporate income tax25% (IRAE)
Free-zone regime0% qualifying
VAT (IVA)On domestic supplies
Cross-border flowsStructured deliberately
CurrencyUYU · USD widely used
Crypto tax practiceSettling under new regime
*As of 2026. The free-zone route depends on genuine substance and qualifying activity - we model it honestly rather than assume it.
Turnkey professional support
Experienced lawyers and international consultants.
We provide end-to-end support, from company registration and the application file to regulatory interaction and compliance oversight - with an individualized approach to each client.
Oleksii Kindratenko
Builds the application itself: Uruguayan company, AML/KYC policy pack, capital structure and tax registrations. His document sets are the reason reviews finish in months, not years.
Eugeniu Bevziuc
First point of contact for international founders. Runs the whole setup remotely, across time zones and languages - from the first call to a live, BCU-authorised business.
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Uruguay · BCU
Launch your crypto project in Uruguay with expert support.
Full-service assistance - from company registration to the BCU authorisation and ongoing compliance.
Get a consultation →Free legal opinion
Is Uruguay the right fit for your project?
Our legal team will analyze your case at no cost and provide a written legal opinion: which licence scope or route fits your business.
Written assessment within 2-5 business days
Request a free conclusion →FAQ
The Uruguay crypto licence, answered.
Does Uruguay license crypto now?+
Yes. Law No. 20.345 brought virtual-asset service providers under the Banco Central del Uruguay, and the Central Bank approved the final regulations in July 2026. It is a real authorisation regime supervised through the Superintendencia de Servicios Financieros.
What is the application window?+
Firms already carrying out these activities can apply to the BCU between 1 September 2026 and 31 March 2027, and may keep operating while the file is reviewed. New operators must obtain authorisation before they begin.
Which regulator supervises the licence?+
The Banco Central del Uruguay, through its Superintendencia de Servicios Financieros. Supervision covers governance, systems, AML and the ongoing conduct of the authorised business.
Which activities does it cover?+
Exchanging virtual assets, custody and safekeeping, transfer for clients, and trading-venue, advisory and issuance activity. We map your model to the exact scope and apply for it.
How much capital is required?+
The BCU sets capital by activity and risk profile, so there is no single figure. We scope your capital against the regulations for your specific services rather than quote a generic number.
What substance does the BCU expect?+
A Uruguayan SA or SAS with genuine local presence and management: fit-and-proper directors, a compliance function on the ground, real systems and proper custody. Nameplate setups do not pass a serious review.
How are crypto companies taxed?+
A 25% corporate rate on profits, with the free-zone regime able to bring qualifying activity to 0% where genuine substance and activity conditions are met. VAT applies to domestic supplies.
Why Uruguay?+
Central-bank supervision, strong institutions and low corruption, a clear new regime and a free-zone route. A stable, credible base for Latin America, without the volatility of larger neighbours.
Does Uruguay license crypto?+
Yes - Law 20.345, BCU regulations approved July 2026.
Application window?+
Existing operators 1 Sep 2026 - 31 Mar 2027.
Which regulator?+
The BCU, through the SSF.
Which activities?+
Exchange, custody, transfer, trading, issuance.
Capital?+
By the BCU, by activity and risk.
Substance?+
Uruguayan SA or SAS, real presence and compliance.
Company taxes?+
25% corporate; 0% for qualifying free-zone activity.
Why Uruguay?+
Central-bank stamp, stability, low corruption.
Client notes
Google4.7★★★★★
Founders who wanted it done right.
Google4.7★★★★★
“As a software development crew at FewMoreTaps OÜ, we've had the pleasure of working with Prifinance on some key financial moves.First of all, navigating the world of corporate banking and finance can be a maze, but Prifinance made it feel like a walk in the park. They helped us set up a corporate bank account without the hassle of jumping on a plane or drowning in paperwork. Everything was done remotely, smoothly…”
Google
“I had their assistance in company registration and I would recommend them. They were answering all my clarification during the process and offering all their supportThank you Daniel and Irinia”
Google
“We found PRIFINANCE COMPANYvia the Internet and asked for help in organizing the opening of their company in Estonia. PRIFINANCE COMPANY specialists helped us a lot with this. Their professional, competent approach and knowledge of their business left us with only the best impressions.”
Google
“I'm thrilled with my experience with PriFinance! They helped me obtain a crypto license in Estonia without any hassle. The team was super understanding and always available to answer my questions and assist. It was great to see how they put effort into preparing the documents to ensure everything went smoothly. I'm delighted with the outcome and highly recommend PriFinance to anyone looking to get a license…”
Google
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Google
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Google
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One message away from your Uruguay licence.
Get a free legal opinion on your project - our legal team will analyze your case at no cost and provide a written legal opinion: which licence scope or route fits your business.Free legal opinion: which Uruguay licence scope fits your project and what it will cost.
✓Written legal opinion within 2-5 business days - free of charge✓A clear recommendation on the right licence scope, not a sales pitch✓Transparent fixed fees, confirmed up front✓EN · RU · ES speaking team
Prifinance is an independent law and advisory firm. We are not a regulator and are not affiliated with, endorsed by, or acting on behalf of the Banco Central del Uruguay or any other public authority. Authorisations are granted by, and obtained directly from, the competent authorities.