Opening a Bank Account
Answer
The general rule applies to you
No exception is recorded for citizens of Chile on this topic. That is the answer, not a gap - everything below is the rule you get, unchanged.
81 exceptions recorded across 33 countries · none match Chile to Uruguay · Opening a bank account
The state bank publishes its requirements, and for a non-resident foreigner they include a condition that is easy to miss and expensive to discover late: since September 2021 a new non-resident client must take out a fixed-term deposit of at least five thousand US dollars for a minimum of 181 days. Residency is not required to open an account, but that deposit is.
At a glance
- Residency required
- No
- Non-resident deposit
- USD 5,000 minimumas of 2021-09-01
- Deposit term
- At least 181 days
- Identity document
- Passport, or the national ID for Argentina, Brazil or Paraguay
- Proof of income
- Required
Requirements
- An identity document valid for the central bank's purposes - a passport for any country, or the national identity document for Argentina, Brazil or Paraguay
- A second photographic identity document if the bank asks for one
- Proof of address
- A document evidencing your activity and your monthly income
- For non-resident foreigners specifically: a fixed-term deposit of at least USD 5,000, or the equivalent in another currency, for a minimum of 181 days
- FATCA forms where applicable, and evidence that your tax obligations are met or that your activity is exempt
In detail
Against Argentina
Argentina's central bank has told banks that an account for a non-resident is permitted and that a foreign identity document suffices, leaving the friction with individual banks and the anti-money-laundering rules. Uruguay's state bank publishes a specific, quantified condition instead: five thousand dollars locked up for six months. The Argentine position is more permissive on paper and less predictable in practice; the Uruguayan one is more demanding and tells you exactly what it demands. Which is better depends on whether you value the door being open or knowing the price of the key.
What applies to you
Nothing changes for a citizen of Chile
We have no rule recorded that treats your citizenship differently here, so the general rule above is the one that applies to you. That is an answer, not a gap.
What the law says
«A partir del 1º/09/2021 los nuevos clientes del segmento NO RESIDENTES extranjeros deberán contratar un plazo fijo por un mínimo de U$S 5.000 (dólares USA cinco mil) o equivalente si el mismo se pactara en otra moneda y a un plazo mínimo de 181 días.»Our translation - not official
From 1 September 2021, new clients in the NON-RESIDENT foreign segment must take out a fixed-term deposit of a minimum of USD 5,000 (five thousand US dollars), or the equivalent if agreed in another currency, for a minimum term of 181 days.
This is the bank's own condition, not a regulatory requirement, so another bank may not impose it. It is stated here because BROU is the state bank and the usual first stop.
Read it at the sourceAbout this source
Uruguay's state-owned bank, and the usual first stop for a new arrival opening an account. Publishes its own account-opening requirements, including the conditions it applies to foreigners and non-residents.
Standing: Applies the rule
Cannot be cited for: It speaks for itself and for nobody else. These are one bank's commercial conditions, not regulation: the central bank sets the floor, and private banks set their own terms above it. A requirement published here tells you what BROU asks, not what Uruguayan law requires.
We re-read it every 120 days. More about this source
«Documento que acredite la actividad y volumen de ingresos mensuales.»Our translation - not official
A document evidencing the activity and volume of monthly income.
About this source
Uruguay's state-owned bank, and the usual first stop for a new arrival opening an account. Publishes its own account-opening requirements, including the conditions it applies to foreigners and non-residents.
Standing: Applies the rule
Cannot be cited for: It speaks for itself and for nobody else. These are one bank's commercial conditions, not regulation: the central bank sets the floor, and private banks set their own terms above it. A requirement published here tells you what BROU asks, not what Uruguayan law requires.
We re-read it every 120 days. More about this source
Practical notes
This is one bank's published requirement. Private banks in Uruguay set their own conditions and we have not sourced them.
The deposit condition applies to the non-resident segment, so obtaining residency changes which set of requirements you fall under.
- administersRequisitos para operar con el Banco República
Banco de la República Oriental del Uruguay (BROU)
About this source
Uruguay's state-owned bank, and the usual first stop for a new arrival opening an account. Publishes its own account-opening requirements, including the conditions it applies to foreigners and non-residents.
Standing: Applies the rule
Cannot be cited for: It speaks for itself and for nobody else. These are one bank's commercial conditions, not regulation: the central bank sets the floor, and private banks set their own terms above it. A requirement published here tells you what BROU asks, not what Uruguayan law requires.
We re-read it every 120 days. More about this source