How To Set Up A Corporation Or Company In Peru

• Published date: 02 August 2023
• Subject Matter: Corporate/Commercial Law, Government, Public Sector, Tax, Inward/ Foreign Investment, Corporate and Company Law, Tax Authorities, Shareholders
• Law Firm: Biz Latin Hub Group
• Author: Biz Latin Hub Group

The process to set up a company or corporation in Peru takes about four to six weeks. It is required to have at least two shareholders who might be individuals or a legal entity and involves preparing the minutes of incorporation. The following are the steps you should follow to form a company.

Setting Up the Legal Structure for Your Company in Peru

There a number of different legal structures you can choose from when forming your company:

• Joint Stock Company (S.A.)
• Closely Held Company (S.A.C.)
• Publicly Held Corporation (S.A.A.)
• Limited Liability Company (S.R.L.)

A Legal Representative could complete the registering of your company. In order to appoint a new legal representative you would need a Power of Attorney (POA), this POA has to be signed, legalized by the Ministry of Foreign Affairs of Peru and if the power is written in another language it has to be officially translated into Spanish.

Quick FAQs When Setting Up a Company in Peru

• Is foreign ownership allowed? YES
• Can the company sponsor foreign employees? 20% of total employees
• How much capital is needed to form a company in Peru >USD $150
• Does Peru impose any foreign exchange or capital controls NO
• What is the timeframe for setting up a company (including registration, and bank account)? 3 - 4 WEEKS
• Are a fiscal address and legal representation required YES, in order to obtain the RUC number
• What is the minimum number of shareholders required TWO
• What is the currency? PERUVIAN SOLES and US DOLLARS

6 steps to form a Company in Peru

• Step 1: Create the Minutes of Incorporation
• Step 2: Open a Company Bank Account in Peru
• Step 3: Register Company at the National Superintendence of Public Registries (SUNARP)
• Step 4: Obtain a Tax ID (RUC - Registro Único de Contribuyente)
• Step 5: Formalize the Statutory Books
• Step 6: Obtain a Municipal License in Peru

1. Create the Minutes of Incorporation

This is the incorporation document of your company, which includes:

• Identification of Shareholders
• Description of leadership positions
• Company objective
• Bylaws
• Description

Please note that this document has to be signed by a lawyer

Setting Up the Legal Structure for Your Company in Peru

2. Open a Company Bank Account in Peru

You must choose a bank to open your company's bank account. It is important to consider that in order to open an account you usually will have to make a minimum initial deposit amount in the currency of your new account (i.e. USD for a USD account and S/. for a S/. account).

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