Wealthy Expats Flock to Uruguay for Beaches, Tax Breaks

Rich expats are flocking to Uruguay for its beaches and property-linked tax breaks. In a corner of the world frequently rocked by political turmoil and plagued by yawning income gaps, Uruguay has long stood out for its enviable levels of stability and one of the highest living standards in Latin America thanks to an extensive welfare state and buoyant exports of farm goods and software. It’s also largely free of the violent crime—such as kidnapping for ransom—that haunts the rich in Brazil, Mexico and other Latin American countries. The country is now home to some of the region’s leading tech entrepreneurs, including Argentina-born Mercado Libre co-founder Marcos Galperin, Nubank co-founder David Vélez and Globant co-founder and CEO Martín Migoya. -------- Subscribe to our YouTube channel: https://bit.ly/2TwO8Gm Subscribe to Bloomberg Originals: https://www.youtube.com/BloombergTV Bloomberg Quicktake brings you global social video spanning business, technology, politics and culture. Make sense of the stories changing your business and your world. Connect with us on… YouTube: https://www.youtube.com/user/Bloomberg Breaking News on YouTube: https://www.youtube.com/@BloombergQuicktakeNow Twitter: https://twitter.com/quicktake Facebook: https://www.facebook.com/quicktake Instagram: https://www.instagram.com/quicktake