URUGUAY SAFI as a Financial Services Provider
This is just a basic idea of what can be done with a SAFI in the field of financial services. There are many other possibilities which can be discussed in order to determine if a SAFI is right for you.
When the object is to provide financing to a country in the region:
This is an example of how a Uruguay SAFI may be used to provide financing to other countries and regions.
a. As a first step, an Argentine importer opens a letter of credit in favour of a Uruguayan offshore corporation ( SAFI).
b. When the SAFI receives the letter of credit, it issues a new letter o credit (in a back-to-back operation) to a Mexican exporter.
c. The Mexican exporter can sell its trade receivable to a bank in Uruguay.
d. The goods flow directly from the exporter to the importer.
When the object is to generate a transfer price in Uruguay:
I. As a first step, an Argentine importer opens a letter of credit in favour of a Uruguayan offshore corporation ( SAFI), for USD 100,000.
II. The SAFI issues a new letter o credit (in a back-to-back operation) to a Mexican exporter, for USD 80,000.
III. The Mexican exporter sends the documentation to the SAFI for USD 80,000.
IV. The SAFI issues an invoice for USD 100,000, and sends that invoice plus the documentation issued by the Mexican exporter to the Argentine importer.
V. The Argentine importer pays the SAFI USD 100,000.
VI. The SAFI transfers USD 80,000 to the Mexican exporter, and retains the difference (USD 20,000) for the SAFI.
VII. The goods flow directly from the exporter to the importer.
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