Peruvian Closely Held Corporation

The Peruvian Closely Held Corporation must include twenty (20) shareholders, as a maximum. It can be incorporated in such a way that the General Manager would be empowered will full powers in the name of the corporation. This would speed up the management of the enterprise. However, it would provide less supervision on it.

Therefore, the shareholders must appoint a manager, a person of their total trust. Only one way of controlling would be that the manager can be removed from his position and without any explanation from the Board of Directors. Moreover, it has not been registered before the Public Registry of the Securities Market.

If it wishes to incorporate a closely held corporation («Sociedad anónima cerrada») with a Board of Directors, it is only needed the identification data of the manager and managers.

Closely Held corporation’s requirements.

Shareholders´ Identification Data

In case the shareholders are foreigners visiting our country, it is required their foreign identity cards or, on the contrary, identification data of the Attorney representing them indicating the powers granted to them.

Line of Company Business

It must be detailed for the corporation’s purposes.

Type of Contribution

It can be in cash or personal property. Also, the way of distribution of capital among the shareholders and the nominal value of the shares must be defined.

The identification data of the first directors

Three members, as a minimum, state which of them will be the chairman of the board and the identification data of the general manager or the managers, depending on whether the shareholders wish to have a single or several managers.

If you need advice on the incorporation of Companies in Peru, do not hesitate to contact: Lilie C. Delion email: lcd@estudiodelion.com.pe; we will gladly resolve your queries.

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In Peru, the General Law of Companies regulates the structure and operation of commercial companies. Among these, it recognizes three types: the closed corporation with a maximum number of 20 partners and with restrictions on the circulation of shares; the open corporation whose shares are traded on the Stock Exchange is made up of many more shareholders than is necessary to open a company, and the regular corporation is also known as S.A. (Anonymous society). Source: www.wikipedia.org.