Are you interested in forming a company in Peru? Have you identified a business opportunity but are not sure how to begin business operations? It is time to team up with a local partner to assist you to execute your business plans in Peru, one of the most attractive commercial jurisdictions in Latin America
Read the following legal summary will help you understand what you need to create your own company in Peru.
Legal Entity Requirements
Every legal entity in Peru must have at least two shareholders (99% and 1% is OK), and these shareholders cannot be husband and wife (unless the marriage is under a separate property regime).
Every legal entity in Peru must comply with the following (3) requirements:
- Appoint a Legal Representative
- Have a fiscal address
- File monthly and annual tax declarations
This company incorporation process should be completed in (4) to (6) weeks following the submission of the required paperwork.
If you are outside Peru, you will need a local contact to help you to incorporate your local Peruvian entity.
Company Incorporation Process
To complete the company formation, if you are outside Peru, you will need the following:
- Power of Attorney (POA) that authorizes your ‘local contact’ to constitute a company locally, which has to be officially translated, with legalized signatures and apostilled
- Present three (3) name denominations for your legal entity
- Identification of the company shareholders
- The naming of local Legal Representative of the legal entity
- Inscription of the social capital (S/500 minimum)
- Detail the business activities that the company will be involved with – ‘objeto social’
- Register the office/fiscal address – ‘domicil legal’
- Open a corporate bank account
As mentioned before, every Peruvian company must file monthly and annual declarations, have a registered office address and appoint a Legal Representative. The Legal Representative the legal face of the company to the Governmental Authorities and as such holds some legal liabilities. This person must either be a local national or a foreign national with a visa. This is not necessarily the owner of the company, but the person that is responsible for the good management of the company.
¿Interested in Beginning Commercial Operations in Peru?
We hope this quick summary helps you to understand what is needed to form a company in Peru. Our legal and accounting team have ample experience with company formations/incorporations in Peru and Latin America. For more personalised advice, get in contact with Country Manager, Leo at [email protected]
Unsure of the accounting and tax requirements in Peru? Watch the presentation below for more information.