12. Can I pay in cash for a property?
Any amount over US$ 10,000 brought into the country must be declared. Depending on the sales price of the property, you can pay the 10% deposit at the notary’s office in cash; this is actually quite common. The remaining 90%, however, must be sent by a wire transfer. Uruguay places significant emphasis on the fact that it does not permit money laundering, which means that a currency transaction report must be filed for transfers over US$10,000. For this reason, cash payments are neither common nor desirable. While we wouldn’t completely rule out the possibility in exceptional cases, we are opposed to cash payments on principle.