Hiring an experienced corporate legal counsel in Peru when incorporating a company in the country is key to a smooth market entry with minimized risk. Because a business lawyer with a strong track record will have a deep knowledge of corporate law in Peru, and will be able to help you to make the best decisions to remain in good standing with local authorities.
Peru has experienced decades of political stability and low inflation rates that have placed it as one of the most popular destinations in Latin America for foreign direct investment (FDI), of which inflows reached $8.9 billion (all figures in USD) in 2019. With a gross domestic product (GDP) of $226.8 billion that same year, this fast-growing Andean market is also the region’s sixth-largest economy.
Considered an investment-friendly environment that benefits local and foreign organizations doing business in the country, Peru has various free trade agreements (FTAs) in force with countries and regional associations in North America, Europe, and Asia. Since 2011, Peru has been a member of the Pacific Alliance — a regional trade bloc that includes Chile, Colombia, and Mexico, and which has ambitions to expand beyond the region.
While the country’s large service sector is crucial to the economy, Peru has seen an exponential increase in the export of agricultural commodities in the last two decades — a factor that has contributed to reducing the country’s poverty rate among rural areas from 80 percent in 2004 to 36 percent in 2018. Some of Peru’s main imports are precious metals, hydrocarbons, machinery, and vehicles. The nation’s top imports include refined and crude petroleum, cars, and broadcasting equipment.
If you are considering incorporating a company in Peru or have already established a legal entity in the country, read on to understand the importance of working with a corporate legal counsel in Peru. Or go ahead and contact us now.
Importance of a corporate legal counsel in Peru
Understanding Peru’s regulatory framework can be challenging if you are expanding into the country for the first time or are not a Spanish speaker. By working with reliable corporate attorney in Peru you will guarantee the longevity of your company, increasing the chances of achieving your business goals.
Your legal counsel in Peru will represent your organization before governmental entities, partners, clients, and other stakeholders, and will assist in filling in all required forms related to establishing a legal entity, while helping you to draft legal documents or contracts. They will also be able to provide ongoing advice on tax, labor, and civil law.
A legal counsel in Peru will also be able to:
- Guarantee the protection of your intellectual property, be it a logo, patent, or trademark
- Solve liabilities related to labor contracts or payment of social benefits to employees
- Help you choose the legal entity that best suits your business needs and commercial activity
Fields of law covered by a corporate legal specialist
Some legislative areas that your legal counsel in Peru will be aware of include:
Corporate law: including analysis of taxation and fiscal responsibilities, corporate documents, purchase and sale contracts, warranty contracts, registrations, and trademarks.
Labor law: focusing on verifying that the activities carried out between the employee and the employer are developed in a safe and appropriate manner
Trade law: covering issues related to various types of commercial exchanges, whether import or export, which may represent business opportunities or gains for the company.
Mining law: focusing on both exploration and exploitation activities, and legal requirements regarding mineral processing, and property titles.
Liquidation services: covering the procedure of dissolution and liquidation of a company in Peru, including the preparation of the corresponding documents and the registration procedures to cease operations.
Biz Latin Hub can be your corporate legal counsel in Peru
At Biz Latin Hub, our team of multilingual lawyers in Peru is equipped to provide high-quality corporate legal services to help you enter the local market while maintaining your company in good standing with Peruvian authorities. With our full suite of market entry, commercial representation, and back-office services, we can be your single point of corporate assistance in Peru and other 15 countries across Latin America and the Caribbean.
Reach out to us now for personalized assistance or a free quote.
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