How To Set Up A Corporation Or Company In Peru

• Published date: 11 January 2024
• Subject Matter: Corporate/Commercial Law, Corporate and Company Law, 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 are 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 registration 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, and 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.

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

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 an S/. account).

3. Register the Company at the National Superintendence of Public Registries (SUNARP)

The Notary public is in charge of converting the minutes into a public deed and preparing your documents for registering in SUNARP.

To register in SUNARP you will need:

• Notary Public documents
• SUNARP forms
• Payment for the Rights to Registration

4. Obtain a Tax ID (RUC - Registro Único de Contribuyente)

The tax authority in Peru grants the Taxpayer Identification Number, which is the Superintendence of Tax Administration (SUNAT).

In order to request your Tax ID, you will need the following:

• Water or electricity bill that shows the legal...