Where should I setup a bank account in Punta Ballena?

We asked expats in Punta Ballena what banks they use and there advice about banking. They advised...

"Expats considering retirement in Punta Ballena should be aware that the official language is Spanish, so learning the language or having a basic understanding would be beneficial. The cost of living is relatively high compared to other Latin American countries, but still lower than in North America or Western Europe. Uruguay has a stable economy and political system, making it a safe choice for retirement. The country has a high standard of living and excellent healthcare facilities, with both public and private options available. Punta Ballena is known for its beautiful beaches and relaxed lifestyle, making it an ideal location for those looking for a peaceful retirement. The climate is temperate, with warm summers and mild winters. Uruguay has a residency program for retirees, which requires proof of income from a stable source such as a pension. It's also important to note that while Uruguay does not tax foreign income, it does tax local income and assets. The country is also very welcoming to foreigners and has a friendly and inclusive culture. However, it's recommended to visit Punta Ballena and spend some time there before making the decision to retire, to ensure it suits your lifestyle and preferences. Finally, it's advisable to consult with a legal expert or a real estate agent familiar with the local laws and regulations, especially when buying property," said a member in Punta Ballena, Uruguay.

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