How to Form a Company in Peru – Specificity
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. You should not have less than 2 and over 20 shareholders in the form of companies/individuals of any residency/nationality. It is recommended to invest a minimum of $350 USD for required capital, though there is no minimum limit. The liability of a S.A.C. is restricted to the worth of the shares held by shareholders.
GM or CEO must be a Peru domicile. The name of the company must have S.A.C. in its end. No directorial board or listing to the stock market is required to form this kind of 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.
Legal system
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. 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
Documentation package
A thing you should remember and have to do to start a company in Peru, is 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 and documented at the Peruvian Public Register of Companies.
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
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.
You can contact PFSER, a group of specialists in Peru, to provide you special guidance and advice, if you are planning to form a company in Peru. Do you still have questions, please contact our specialists! We would be happy to assist you to form a company in Peru.