If you desire to start a business in Peru but are not aware of the process to follow while incorporating a company in some other country, then it can be a very annoying situation for you.
The information provided in this write-up can help you to be part of the emerging economic system of Peru by registering a company successfully.
How to Form a Company in Peru
Types of companies in Peru
While starting a company in Peru you should know the type of company you want to start. To initiate a company in Peru you can choose from different types of structures of companies available there. Different types of Peruvian companies and their requisites are briefly discussed here under.
While starting a company in Peru people usually like to form a S.A.C. or Sociedad Anonima Cerrada because of its adjustable character and restricted liability. The structure of SAC is just like a company with private limited character. To know about the requirements of a SAC company let us move ahead.
Requirements to form a SAC in Peru
You will have to meet the characteristics and requirements discussed here under so that your company in Peru can be termed as S.A.C.:
A minimum number of shareholders: You should not have less than 2 and over 20 shareholders in the form of companies/individuals of any residency/nationality.
Minimum capital required: It is recommended to invest a minimum of $350 USD, though there is no minimum limit.
Level of liability: The liability of a S.A.C. is restricted to the worth of the shares held by shareholders.
GM or CEO: He must be a Peru domicile.
Company name: The name of the company must have S.A.C. in its end.
Note: No directorial board or listing to the stock market is required to form this kind of company in Peru.
Time to be taken in starting a company in Peru
If you hire one of the top attorneys to complete the process of starting a business in Peru then it may take 6-8 weeks.
Problems faced in starting a company in Peru
If you want to start a company in Peru then you can avail of a number of opportunities. But to evade future legal troubles you must ensure that you have started it in a legal manner. After starting your business you should also ensure that you are following the employment and tax laws of Peru.
You can contact PFSER, a group of specialists in Peru, to provide you special guidance and advice, if you are planning to start your business in this country.
Tips to Form a Company in Peru
Tips to incorporate a company in Peru
A number of things, which you should remember and have to do to start a company in Peru, are listed here under:
- Power of Attorney
- PoA is required to set up a S.A.C., a closely-held company.
This PoA should be:
- Legitimized by a Consul of Peru
- A separate PoA must be granted by every shareholder of the company
- Documented at the Peruvian Public Register of Companies
Registration of your company in Peru
You must register your company with the Company’s Public Register of Peru.
Documents required for this purpose
- Name of your company (public register approved)
- Details of director of the company and address of its registered office
- Detail of activities of the company
- Details and identity cards of the shareholders
- Memo and commentaries of the association
- Proof of the payment of capital invested
Note: Bank’s certificate about the proof of the capital – before starting a company in Peru minimum of 25% of the value of the shares should be paid fully.
Requirements about the accounting of the business in Peru
The statements of finance and books of accounts of your business should be maintained accurately. The statements of finance must be:
- Maintained in Spanish
- Filed according to the requirements of accounting and Peruvian taxation system
- Shown minimum one time in a year in the meetings of shareholders
- Maintained in Nueva Sol, the national currency of Peru
Do you still have questions, please contact our specialists! We would be happy to assist you to form a company in Peru.