How to set up a company in Peru

Find out information about establishing a corporation in Peru.

Useful advice for any natural person or corporation which wants to set up a company in Peru.
First, carry out a previous search before The National Superintendency of the Public Registry (“Superintendencia Nacional de los Registros Publicos”) - SUNARP.
It is to prevent wasting time and money establishing a corporation under the name of a company that already exists.
Second, you must decide the business company object, which is the corporation's purpose. The company's business object must be clear and accurate. Likewise, the activities described above have to be lawful.
Third, you must decide on the corporation type that would be the most convenient to set up. Regarding this matter, we usually recommend establishing a closely held corporation -S.A.C. A closely held corporation is a corporate type, considered by the Peruvian national legislation, more comfortable to be handled by the shareholders since it does not require a Board of Directors. Also, it does not quote on the Stock Exchange. Thus, its establishment and the opening are not complicated.
Fourth, Grant a Power of Attorney. If you use the advice of an attorney, you would need to grant a Power of Attorney. It must be granted by Deed and legalized by the Peruvian Consul in the relevant country or by Apostille (Hague Convention). It is compulsory to record the Power aforementioned before the Pubic Register of Companies in Peru. Each one shareholder must grant a separate Power of Attorney.
There is a way to establish a corporation without a Power of Attorney:
we point out that if the Attorney set up a corporation using one Power of Attorney per shareholder, the process will take more time, approximately one or two more months.
However, there is a way to establish a corporation without a Power of Attorney. In such a case, the shareholders must appear the day when the Public Deed has to be signed. All it is needed is that they send electronic copies of their passports to the Attorney. Likewise, the shareholders have to gain a Special Permit to Sign Contracts, which they can get at the General Office of Immigration of Peru in a few hours.
Fifth, don't forget the data information:
You must provide the Attorney with the following data: Name of the General Manager, either Peruvian or a resident of Peru. Please note that all shareholders can be foreigners. Name and personal information of the shareholders (Passport number, marital status, age). Percentage of shares. The capital of the corporation. Corporate purpose.
Sixth, take into account that the minimum number of shareholders to establish a corporation in Peru is two.

[ZamanQamar-fi]

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