To set up a company in Peru, it is necessary to register it with the National Superintendency of Public Registries SUNARP

1.- Search at the Public Registry of Companies:

Before setting up a corporation in Peru, it is highly advisable to carry out a previous search at the Public Registry of Companies to avoid time and charges involved in a corporation set up if there is an identical or similar company’s name to the one you are interested in already registered.

2.- Establish a closely-held corporation

We highly suggest you set up a closely-held corporation (Sociedad Anónima Cerrada – S.A.C.). A closely-held corporation is a corporate type, considered by the Peruvian national legislation, easier to be handled by the partners since it does not require a Board of Directors and it does not quote on the Stock Exchange. Thus, its establishment and opening is not complicated.

3.- 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 Peruvian Consul in the relevant country. Additionally, this Power of Attorney should be recorded at the Pubic Register of Companies in Peru. Each one of the shareholders must grant a separate Power of Attorney.

4.- Don’t forget the data information in order to sep up a company in Peru:

It is necessary you provide the attorney with the following data:

• • • Name of the General Manager, either Peruvian or a resident of Peru. Please note that all shareholders might be foreigners.
    • Percentage of shares.
    • Personal information of the shareholders (Passport number, marital status, age).
    • The capital of the business.
    • Corporate purpose.

5.- Consider that the minimum number of shareholders to establish a corporation is two (02).

6.- There is a way to establish a corporation without a Power of Attorney :

It is good to point out that if your attorney set up a corporation using a 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 is to be signed. All it is needed is that they send the attorney electronic copies of their passports or National Identity Documents (DNI) and that they get a Special Permit to Sign Contracts (which is obtained at the General Office of Immigration of Peru in a few hours).