Uruguay offers tax breaks to attract wealthy foreigners

Uruguay's new government wants to offer tax breaks to woo wealthy foreigners to the country. The country's president-elect wants to offer residency to up to 200,000 by slashing the minimum amount of property foreigners need to buy to qualify. Foreigners currently have to spend more than 183 days a year in the country as well as purchasing real estate worth more than £1.3m or investing more than £4.1m in a business. Lacalle Pou, officially takes office this March, is still to give figures, but business leaders are calling for levels as low as countries such as Portugal, where foreig...