How to Open a Bank Account in Peru ?

In Peru,  just like in any foreign country, it can be frustrating trying to open a bank account. Opening corporate and private bank accounts can take a lot of time, which in many cases will end up costing you money. However, it is an essential step when starting a business in Peru. In fact, without that bank account, you will not be issued a business license. It is therefore important to know when and where to start, Bizlatinhub offers an analysis. Continue reading to learn how to open a bank account in Peru.

Peru – Market Overview

Peru is a thriving destination for business ventures, making it an ideal choice for entrepreneurs and investors. One compelling reason to consider Peru is its rapidly growing economy. With a strong focus on economic stability and sustainable growth, Peru offers a favorable climate for businesses to flourish.

It is is straightforward once you know how to open a bank account in Peru, facilitating seamless financial transactions for your business needs. The country’s banking system is well-developed, secure, and accessible, with numerous international banks present. This ease of financial access simplifies capital management and investment activities.

Furthermore, Peru boasts abundant natural resources, including mining, agriculture, and renewable energy potential, providing diverse opportunities for various industries. The government actively promotes foreign investment, offering incentives and legal protections to attract businesses.

When you open a bank account in Peru you not only facilitate financial transactions but also ensure compliance with local regulations. Peru’s pro-business policies, free trade agreements, and strategic location as a gateway to Latin America enhance its appeal.

Lastly, Peru’s rich cultural heritage, stunning landscapes, and growing tourism industry can complement business opportunities, making it an attractive location for both work and leisure. In sum, Peru’s dynamic economy, accessibility, and investment-friendly environment make it a prime choice to conduct business, exemplified by the ease with which you can open a bank account in Peru.

How to open a Bank Account in Peru a biz latin hub infographic
Open a bank account in Peru – Some important facts about how to open a corporate bank account in Peru.

Open a Bank Account in Peru – Current Account Vs Savings Account

Considering the most common types of accounts, we must specify that the current account is one that is generated through the signing of a banking contract, whereby a financial institution is obliged to comply with its client’s payment orders up to the amount of money that the latter has deposited in it, or, if applicable, the amount of the credit that has been granted. The savings account is an ordinary deposit, in which the funds deposited have immediate availability and generate profitability or interest for a certain period and according to the amount saved. As a result of the signing of contracts for the opening of current accounts or savings accounts with banks, the additional benefits they provide such as access to credit, cards, etc. can be made available.

On the other hand, natural and juridical persons (the latter including the different types of companies such as SAA and Cerrada (SAC), Individual Limited Liability Company (EIRL), Civil Associations, etc.) may apply for both accounts and can do so in both domestic and foreign currency. Regarding the opening of accounts in foreign currency, dollar accounts are generalized, however, opening accounts in other currencies, will depend only on the financial institution.

Requirements for the Opening of a Bank Account in Peru

It is necessary to follow guidelines in order to guarantee the success of opening a bank account in Peru. There are various requirements which change between savings and current accounts. These requirements also change depending on the type of entity opening the account. In the table below you will find the requirements for the main types of bank accounts which can be opened in Peru.




Both can open current accounts yet these can be turned down if they have a bad credit rating


(National Identity of Foreigner’s Identity Card called Carné de Extranjera)

Documentation which proves the existence of the company and it’s recognition by the Public Register and the National Superintendency of Taxation Administration (SUNAT)
Verified home address An approved Legal Representative.
Energy or water bills.Legal Rep official documentation. (DNI or Foreigner’s Identity card)
Requirements for the Opening of a Bank Account in Peru

Can Foreigners open Bank Accounts in Peru?

It is important to note that foreigners who are in Peru as tourists and who have not obtained a foreigners card (Carné de Extranjería) will be unable to open a bank account, regardless of what bank they choose or what type of account they are opening. This makes sense due to it ensuring that people on tourist visas have limitations when it comes to working and setting up a business in Peru. In turn, it ensures that foreigners follow the Peruvian legal system and pay their taxes, relevant once you open a bank account in Peru.

steps to set up a company in Peru
Company formation in Peru. How to open a corporate bank account in Peru.

Common Questions when opening a corporate bank account in Peru?

Based on our extensive experience these are the common questions and doubts from our clients when looking to open a company bank account in Peru.

1. Can I open a corporate bank account online? 

It is possible to apply for it online; however, the document management and verification of legal and financial information is conditioned to the evaluation of the executive in charge. This information must be provided and managed by the legal representative of the company because they have to:

a). Make biometric control (to verify their identity)
b). Register their signature as legal representatives

2. What documents do I need to open a corporate bank account in Peru? 

To open a corporate bank account in Peru you would need the following documents:

a. Copy of the company’s incorporation certificate
b. Verbatim copy of the company’s incorporation, issued by the registry authority, not less than 30 days after it is issued (the term of issuance depends on the banking entity)
c. RUC card, issued by the tax authority
d. Power of attorney of the legal representative
e. Identity document of the legal representative
f. Opening file: signature registration form, letter of instruction
g.Make the minimum deposit required for local or foreign currency.

3. Who can have access to a corporate bank account? 

Access is authorized to the legal representative or proxy with sufficient power of attorney, registered in the corresponding registry.

4. Which is the best bank in Peru for foreign companies? 

BLH Peru works and recommends working with BBVA.

5. Why do companies open bank accounts in Peru?

Opening a bank account in local currency is mandatory for fiscal and tax reasons.

6. Does Peru have banking secrecy? 

Yes, in principle, it is a fundamental right, enshrined in the Political Constitution of Peru and protected by Law No. 26702, General of the Financial System and the Insurance System and Organic Law of the Superintendence of Banking and Insurance

Biz Latin Hub can help you open a corporate bank account in Peru

At Biz Latin Hub, we provide integrated market entry and back-office services throughout Latin America and the Caribbean, with offices in Bogota and Cartagena, as well as over a dozen other major cities in the region. We also have trusted partners in many other markets.

Our unrivaled reach means we are ideally placed to support multi-jurisdiction market entries and cross border operations.

As well as knowledge of how to open a corporate bank account in Peru, our portfolio of services includes hiring & PEO, accounting & taxation, company formation, bank account opening, and corporate legal services.

Contact us today to find out more about how we can assist you in finding top talent, or otherwise do business in Latin America and the Caribbean.

Or read about our team and expert authors.

how can we help you opening a corporate bank account in latin america? a biz latin hub infographic.
How can we help you open a Corporate Bank Account in Peru

The information provided here within should not be construed as formal guidance or advice. Please consult a professional for your specific situation. Information provided is for informative purposes only and may not capture all pertinent laws, standards, and best practices. The regulatory landscape is continually evolving; information mentioned may be outdated and/or could undergo changes. The interpretations presented are not official. Some sections are based on the interpretations or views of relevant authorities, but we cannot ensure that these perspectives will be supported in all professional settings.

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