USD business account in Uruguay
A Uruguayan company can hold US dollars in a dollar account at a Uruguayan bank, in a USD account with a foreign provider that accepts Uruguayan companies, or through a US company with its own account. Uruguay does not apply foreign exchange controls, so a company may earn, hold, convert and send dollars freely. This guide compares the options, what banks need to receive a payment, documents and the 2026 central bank rules for virtual asset providers.
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- Uruguay does not apply foreign exchange controls and has no foreign currency restrictions, according to the US International Trade Administration.
- A Uruguayan company can keep export proceeds and service income in a US dollar account at a local bank and convert to pesos when it chooses.
- BROU asks foreign payers for a 14-digit account number, the beneficiary name matching the account holder and the SWIFT code BROUUYMMXXX, with a USD 100 minimum.
- Wise lists Uruguay among the countries where customers can hold money, while Uruguay is not on Airwallex's list of supported registration locations.
- The Banco Central del Uruguay approved final rules for virtual asset service providers on 10 July 2026, under Law 20.345 of 2024.
- A USD account abroad in the company's own name lets US clients pay by ACH, the US domestic transfer system, instead of an international wire.
USD business account options in Uruguay: the short answer
A Uruguayan company can hold and receive US dollars in three main ways: a US dollar account at a Uruguayan bank, a USD account with a provider outside Uruguay that accepts Uruguayan companies, or a US company with its own US account. Uruguay does not apply foreign exchange controls, so a company may earn, hold, convert and send dollars freely. The US dollar is widely used in Uruguay alongside the Uruguayan peso (UYU), and local banks offer dollar accounts as a standard product.
Each route serves a different need. Exporters of beef, dairy, grains and other goods want buyers' dollars to arrive in full. Software firms and other service exporters want US clients to pay them as easily as they pay a US vendor. Importers want dollars ready to pay suppliers abroad.
This guide covers the rules, what a Uruguayan bank needs to receive a payment from abroad, which foreign providers say they accept Uruguay, the US company route, documents, the Banco Central del Uruguay's 2026 rules for virtual asset service providers, and where a Helm USD account in the company's own name fits.
The options compared
The table compares the option types. It is not a ranking: many Uruguayan companies keep a local dollar account and add one other route.
| Option | Account name and location | How US payers pay it | Main points |
|---|---|---|---|
| US dollar account at a Uruguayan bank | Company's own name, bank in Uruguay | International wire (SWIFT) through the bank's US correspondent | No exchange controls; bank's own minimums and documents apply |
| USD account with a foreign provider | Company's own name or a pooled account, held abroad | ACH, Fedwire or SWIFT, depending on the provider | Provider's country list decides eligibility |
| US company with a US account | A new US company's name, US bank or fintech | ACH and Fedwire as a US business | Separate company, US tax number and filings |
| Stablecoin wallet | Wallet address, not a bank account | USDC or USDT on a blockchain | Providers need BCU authorization or registration under the 2026 rules; not a deposit |
Sources: International Trade Administration, Uruguay Country Commercial Guide; ECIJA; RSM Uruguay. As published on 29 October 2026.
How to choose: start from how your buyers pay. A company whose buyers wire dollars from around the world is already served by a local dollar account. A company with US clients gains from US account details, because a client can then pay by ACH, the low-cost US domestic bank transfer system, instead of an international wire. A company that pays suppliers in several currencies gains from an account that converts between balances at a shown rate. A company planning US contracts or a US sales team may justify a US company.
Fedwire is the Federal Reserve's same-day system for large US dollar payments. SWIFT is the international network banks use to send cross-border payments, and each bank on it is identified by an 8 or 11 character code. A wire through SWIFT usually passes through one or more correspondent banks, each of which may take a fee, while an ACH payment moves inside the US system at low cost.
Foreign exchange rules in Uruguay
The US International Trade Administration's Country Commercial Guide for Uruguay states that Uruguay does not apply foreign exchange controls and that there are no foreign currency restrictions. International transactions can be completed in US dollars. The guide describes the banking system as generally sound, with good capital, solvency and liquidity ratios, and the financial sector as open to foreign participation.
| Question | Position | Source |
|---|---|---|
| Can a company hold US dollars in Uruguay? | Yes; there are no foreign currency restrictions | International Trade Administration |
| Must exporters convert dollars to pesos? | No exchange controls apply, so there is no conversion requirement in the exchange rules | International Trade Administration |
| Can international transactions be settled in dollars? | Yes | International Trade Administration |
| What banks operate? | A government-owned commercial bank (Banco de la República Oriental del Uruguay), private and foreign banks; Citibank serves corporate clients only | International Trade Administration |
| How do importers pay? | Large importers use letters of credit; importers usually prefer open account or documentary collections | International Trade Administration |
| Who regulates banks and virtual asset providers? | The Banco Central del Uruguay (BCU) | ECIJA; RSM Uruguay |
Sources as listed. As published on 29 October 2026.
A letter of credit is a bank's undertaking to pay a seller once shipping documents are presented. A documentary collection is a payment in which banks exchange shipping documents for payment, without a bank guarantee. Uruguay's open rules mean the questions a company faces are practical: which bank accounts its buyers can pay most cheaply, what documents the bank asks for, and how much each transfer costs.
Receiving dollars at a Uruguayan bank
Banco de la República Oriental del Uruguay (BROU), the state-owned commercial bank, publishes what a payer abroad must send for a company to receive a transfer. Other banks publish similar instructions; ask yours for its exact format.
| Detail | What BROU publishes |
|---|---|
| Account number | 14 digits: the 9-digit account and 5-digit subaccount, with leading zeros where needed |
| Beneficiary name | Must match the account holder |
| SWIFT code | BROUUYMMXXX, in full |
| Bank address | Piedras 369, Montevideo |
| Minimum amount received | USD 100 or equivalent, with limited exceptions |
| Charges | BROU's commission does not include charges of the sending, intermediary or correspondent banks |
| Currencies with BROU correspondents | US dollars, euros and Swiss francs |
| Outgoing transfers above USD 10,000 | An invoice or document showing the reason for the transfer must be presented |
Source: BROU, Transferencias con el exterior (companies). As published on 29 October 2026. BROU does not publish commission amounts on this page.
Intermediary bank deductions are often the largest cost on an incoming wire. A SWIFT wire carries a charges code: OUR means the sender pays all charges, SHA means each side pays its own bank, and BEN means all charges come out of the amount. Ask buyers to send with OUR when an invoice must be paid in full. Our guide on how to receive USD from overseas buyers explains what to send a payer.
Getting paid in dollars, step by step
- Agree the currency and charges. Put US dollars and OUR charges in the contract or purchase order.
- Send the details once, in writing. Give the buyer the company name exactly as on the account, the full account number in the bank's format, the SWIFT code and the bank address, on letterhead or on the invoice.
- Quote the invoice number. Ask the buyer to put it in the payment reference, so the receipt can be matched.
- Track the payment. If a wire has left but not arrived, ask the buyer for the UETR, the tracking reference that stays the same along the whole SWIFT chain.
- Keep the file. Keep the contract, invoice and bank advice together for your accountant and the DGI.
Treat any request to change bank details as a fraud risk, from either side, and confirm it by calling a contact you already know.
Foreign USD account providers and Uruguay
Eligibility is set by each provider and changes over time. The table records what each provider states on its own pages.
| Provider | What its own pages state for Uruguay |
|---|---|
| Wise | Uruguay is on the list of countries where customers can hold money, with no extra restriction noted; Uruguay is not on Wise's list of addresses that cannot get USD account details |
| Airwallex | Uruguay is not on its list of supported registration locations |
| Mercury | Accepts only companies formed and registered in the United States or a US territory |
Sources: the providers' own pages, linked below. As published on 29 October 2026.
Before you apply, check three points. First, whether the US details are in your company's own name or belong to a pooled account in the provider's name. Second, which rails the details accept: ACH only, or also Fedwire and SWIFT. Third, how dollars return to Uruguay when you need them there. Provider pages used: Wise on where you can hold money, Airwallex eligible countries and Mercury eligibility.
The US company route
Some Uruguayan founders form a US company, usually a limited liability company (LLC) or a Delaware corporation, and open a US account in its name. Mercury requires the company to be formed and registered in the United States or a US territory and to have existing or planned US operations, and states that founders do not need to be US citizens or residents. The US company needs an Employer Identification Number (EIN), the US federal tax number for a business. The IRS instructions for Form SS-4 state that international applicants may call 267-941-1099, from 6:00 a.m. to 11:00 p.m. Eastern Time, Monday to Friday, or fax Form SS-4 to 304-707-9471. The US company is a separate legal entity with its own tax filings; take Uruguayan and US tax advice first.
Documents you need
Banks and providers ask for broadly the same company file. The list below is a typical checklist; each bank sets its own.
| Document | Dollar account at a Uruguayan bank | USD account with a foreign provider |
|---|---|---|
| Company bylaws (estatutos) and registration | Yes | Yes, with a translation if asked |
| RUT, the tax registration number | Yes | Usually |
| Certificate of directors and representatives with signing powers | Yes | Usually |
| Identity documents of directors and signatories | Yes, Uruguayan identity card or passport | Yes, passport or national ID |
| Details of beneficial owners | Yes | Yes, owners of 25% or more under US and provider rules |
| Proof of business address | Yes | Yes |
| Description of trade, counterparties and expected volumes | Yes | Yes |
| Invoice or document for outgoing transfers above USD 10,000 | Yes, at BROU | Often, for large payments |
Typical requirements compiled by the Helm Editorial Team; the USD 10,000 figure is from BROU. As published on 29 October 2026.
The RUT (Registro Único Tributario) is the tax registration number issued by Uruguay's tax authority, the Dirección General Impositiva (DGI). Keep the company name the same on every document and on the invoices you send buyers, because the beneficiary name on a transfer must match the account holder.
Stablecoins in Uruguay: USDC and USDT
Stablecoins are digital tokens designed to hold a steady value against a currency such as the US dollar. USDC and USDT are the two most widely used dollar stablecoins. Uruguay regulates the businesses that provide services with them.
- Law 20.345. Uruguay's Law 20.345 on virtual assets was approved in September 2024, as reported by RSM Uruguay.
- BCU rules. The BCU approved the final rules for virtual asset service providers on 10 July 2026, as reported by the law firm ECIJA. They cover exchange between virtual assets, exchange for fiat currency, transfer, custody and administration, and related financial services, including activities carried out through smart contracts and decentralized protocols.
- Authorization. New providers need prior BCU authorization before starting. Providers already operating can file their applications between 1 September 2026 and 31 March 2027.
- Two categories. The 2025 draft, as summarized by RSM, separated financial virtual assets, which represent value or rights for payment or investment, from non-financial ones. Providers of services with financial virtual assets need BCU authorization and must separate client funds; providers dealing only in non-financial virtual assets register in a public registry.
| Question | What the sources say |
|---|---|
| Is there a virtual asset law? | Yes, Law 20.345, approved in September 2024 |
| Who supervises providers? | The Banco Central del Uruguay |
| When must existing providers apply? | Between 1 September 2026 and 31 March 2027 |
| Is a stablecoin balance a bank deposit? | No. It is a virtual asset, not a deposit |
Sources: ECIJA, 21 July 2026; RSM Uruguay, 2 September 2025. As published on 29 October 2026.
A Uruguayan company paid in USDC or USDT should document each underlying sale as it would for a wire and use providers that are authorized or registered with the BCU, or in the process of applying within the transition window.
Where a Helm USD account fits
Helm is a financial technology company, not a bank. Accounts are held with regulated partner institutions, and Helm's US dollar account services are provided by Bridge Building, Inc. (NMLS ID 2450917), a licensed money transmitter, with customer funds held at Lead Bank. Helm provides USD account details in your company's own name, with a US routing and account number that receives ACH, Fedwire and SWIFT payments, alongside EUR and GBP details.
- Service exporters can give US clients domestic US payment details, so a client pays by ACH as it would pay a US vendor.
- Importers can hold dollars and send international payments to suppliers by SWIFT or by local rails in the supplier's currency where available, with the rate, fee and expected arrival shown before sending.
- Companies paid in stablecoins can receive USDC and USDT and convert them to USD inside the account.
- Funds needed at home can be sent to the company's own dollar account at a Uruguayan bank.
Helm agrees pricing with each business in writing before the account opens, and shows the rate, the fee and the expected arrival before you confirm each payment. Each account has a named account manager, and review questions are answered in writing within one business day.
Freelancers and sole traders
Uruguayan freelancers paid by foreign clients can hold dollars in a personal dollar account at a local bank, under the same open rules, or with a provider that accepts Uruguay; Wise lists Uruguay among countries where customers can hold money. A freelancer who forms a company should move client payments to the company's account. For a neighboring market with very different rules, see our guide to a USD business account in Argentina.
Open a Helm account
USD, EUR and GBP accounts in your company's name, with a named account manager.
Open accountQuestions
Can a Uruguayan company open a US dollar account?
Yes. Uruguayan banks offer US dollar accounts to companies, and Uruguay does not apply foreign exchange controls. A company can also use a foreign provider that accepts Uruguayan businesses, or form a US company with its own US account.
Does Uruguay have exchange controls?
No. The US International Trade Administration states that Uruguay does not apply foreign exchange controls and that there are no foreign currency restrictions. International transactions can be completed in US dollars.
Do Uruguayan exporters have to convert dollars to pesos?
No exchange control requires it, because Uruguay does not apply foreign exchange controls. Exporters can keep proceeds in a dollar account and convert when they choose.
What details does a foreign payer need to pay a BROU account?
BROU asks for the 14-digit account number (9-digit account plus 5-digit subaccount), the beneficiary name matching the account holder, the SWIFT code BROUUYMMXXX and the bank address, Piedras 369, Montevideo. The minimum incoming transfer is USD 100 or equivalent.
What is the RUT in Uruguay?
The RUT (Registro Único Tributario) is the tax registration number issued by the Dirección General Impositiva. Banks and foreign providers ask for a company's RUT when it opens an account.
Can a Uruguayan company open a Wise account?
Wise lists Uruguay among the countries where customers can hold money, and Uruguay is not on its list of addresses that cannot get USD account details. Check both Wise pages on the day you apply, because providers update their lists.
Does Airwallex accept Uruguayan companies?
Uruguay is not on Airwallex's published list of supported registration locations. Airwallex states that it may add, remove or change the regions it supports.
Are stablecoins legal in Uruguay?
Uruguay regulates virtual asset service providers under Law 20.345 of 2024 and the BCU rules approved on 10 July 2026. New providers need prior BCU authorization, and existing providers can apply between 1 September 2026 and 31 March 2027.
Can a Uruguayan founder get a US EIN?
Yes. The IRS instructions for Form SS-4 let international applicants call 267-941-1099 to obtain an EIN, or fax Form SS-4 to 304-707-9471 from outside the US.
References
- International Trade Administration: Uruguay Country Commercial Guide, trade financing
- Banco de la República Oriental del Uruguay: Transferencias con el exterior (empresas)
- ECIJA: El Banco Central del Uruguay aprueba la reglamentación para los Proveedores de Servicios de Activos Virtuales (21 July 2026)
- RSM Uruguay: Uruguay avanza en la regulación de los proveedores de servicios de activos virtuales (2 September 2025)
- Wise: Where can I open a Wise balance?
- Airwallex Help Center: Eligible countries and territories
- Mercury: Eligibility and requirements for opening a Mercury account
- Internal Revenue Service: Instructions for Form SS-4
This guide is general information for businesses, not financial, legal or tax advice. Rules, fees and timings were checked against the sources listed on the review date and may change.