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Remote IT work / Residency (Montevideo)

Hi everyone,

Briefly, 32 year old Canadian, and what some would call a PT (perpetual traveller), so I've been bouncing around the world in various countries for the past dozen years or so. We were contemplating a move to Montevideo back in Protected content , but ended up in Budapest instead for some reason. Nonetheless, I'm back to contemplating it again, so have been doing some reading. Can someone please correct me if I'm wrong:

Show up at the border, and get stamped in for 90 day tourist visa without issue. From there, can easily apply for 90 day extension within country (or do a quick border run) without anyone batting an eye. After that, it's touch and go. Government is quite welcoming to foreigners, and encourages them to apply for residency, without many requirements.

So am I right in assuming I just spend a few months as a tourist, and if / when I decide I enjoy the place, I can go ahead and apply for residency any time? Once I've applied, I'm then legally allowed to stay in the country until a decision has been made?

Residency restrictions seem quite lenient compared to other countries, although it says proof of incoming for a suitable lifestyle and doesn't give any specifics on amounts. I'm curious, if I have a software / online business incorporated in Hong Kong, but am the only director & employee, although can verify $10,000 USD/month revenue, would that be enough to satisfy them? Or would they need more?

Thanks!
Matt

Montevideo Forum