Corporations:

Pursuant to the Uruguayan Act Nº16.060, Corporations may have one of the following organizational structures:

1. An open Corporation: must have an Executive Board (in Spanish: “directorio”) and a Supervisory Board (in Spanish: “Sindicatura o Comisión Fiscal”).
2. A closed Corporation may have an Executive Board or one or more Managing Directors (in Spanish: administradores) only or with a Supervisory Board (in Spanish: “órgano de control interno”).

Limited Liability Companies:

Pursuant to the Uruguayan Act Nº16.060, Limited Liability Companies may have one of the following organizational structures:

1. An Executive Board and a Supervisory Board.
2. One or more Managing Directors and a Supervisory Board.

Please see, respectively, Executive Board, Managing Directors, and Supervisory Board in the left side menu for a more in-depth description of each structure, including how to change the respective board members.