Company Registration in Peru | 2024

Establishing a business in Peru presents a strategic opportunity for entrepreneurs and investors looking to tap into one of Latin America’s most dynamic markets. With a robust legal framework and a growing economy, Peru offers a conducive environment for business development. This blog post provides an updated overview of the process for registering a company in Peru as of 2024, ensuring you have the latest information at your disposal.

1. Choosing the Type of Company

The first step in registering a company in Peru is selecting the appropriate legal structure. The most common types include:

• Sociedad Anónima (S.A.): A corporation where shareholders’ liability is limited to their capital contributions.
• Sociedad Anónima Cerrada (S.A.C.): A closed corporation suitable for small and medium-sized enterprises with limited shareholders.
• Sociedad Comercial de Responsabilidad Limitada (S.R.L.): A limited liability company often preferred by small businesses.
• Empresa Individual de Responsabilidad Limitada (E.I.R.L.): A sole proprietorship with limited liability.

Each type has specific characteristics and regulatory requirements, so it’s crucial to choose the structure that best aligns with your business goals.

2. Name Reservation

Before proceeding with the registration, you must reserve your company name with the National Superintendency of Public Registries (Superintendencia Nacional de los Registros Públicos – SUNARP). This step ensures that your chosen name is unique and not already in use by another entity.

3. Drafting the Company’s Bylaws

The company’s bylaws (Estatutos) outline the operational framework and governance of the business. These documents must include:

• The company name and registered office address.
• The purpose and scope of the business.
• Details about the capital structure and share distribution.
• Management structure and decision-making processes.
• Procedures for shareholder meetings and voting rights.

4. Notarization of Documents

Once the bylaws are drafted, they must be notarized. This involves signing the documents before a notary public in Peru. For foreign investors, it is advisable to appoint a local representative who can handle this process.

5. Registration with SUNARP

After notarization, the company must be registered with SUNARP. This step involves submitting the notarized documents, along with a registration fee. SUNARP will review the documents to ensure compliance with legal requirements and subsequently issue a registration certificate.

6. Obtaining a Tax Identification Number (RUC)

The next step is to obtain a Tax Identification Number (Registro Único de Contribuyentes – RUC) from the National Superintendency of Tax Administration (Superintendencia Nacional de Administración Tributaria – SUNAT). The RUC is essential for tax purposes and is required for issuing invoices, paying taxes, and opening a corporate bank account.

7. Opening a Corporate Bank Account

A corporate bank account is necessary for managing the company’s finances. Most banks in Peru require the registration certificate and the RUC to open an account. It is advisable to research different banks to find one that offers services tailored to your business needs.

8. Compliance with Labor Laws

If your company will have employees, it is essential to comply with Peru’s labor laws. This includes registering with the Ministry of Labor and Employment Promotion (Ministerio de Trabajo y Promoción del Empleo – MTPE), enrolling employees in the national health and pension systems, and adhering to regulations regarding employment contracts and workplace conditions.

9. Permits and Licenses

Depending on the nature of your business, you may need additional permits and licenses from various governmental agencies. This could include municipal licenses, sector-specific permits, and environmental approvals. It is crucial to identify all the necessary permits early in the process to ensure full compliance.

10. Ongoing Compliance

Once your company is registered, ongoing compliance with Peruvian regulations is essential. This includes regular tax filings, maintaining proper accounting records, and submitting annual financial statements. Non-compliance can result in penalties and affect your business operations.