In the public area, a combination of legal and regulating provisions sets up salaries. Labor conflicts arise from time to time, as the public servants are too many and are underpaid, notwithstanding the big burden imposed on the public finances. In the territory, there are several Free Zones, ones being exploited by the State and others in private hands. Importation and repatriation of capital and dividends are free. The granting of banking licenses to local or foreign investors is subject to a process of previous qualification, in which prestige and solvency are scrutinized.
Procedures are always slow and new permits awarded are scarce.
The country has adopted legislation allowing the setting-up of offshore banks, whose licenses are not granted at random. Recent legislation also permitted the creation of investment banks. Since 1948, Uruguay has had a law pertaining to offshore companies. No personal income tax exists. Payment of dividends to foreigners are tax exempted if in their countries they can obtain a tax credit for the amounts withheld in Uruguay.