1. Select the appropriate company type
The type of company in Peru that you choose has to better align with your business’ objectives and goals. Consider that the most common type of company registered in Peru is the Private Closed Corporation (SAC), given its flexibility and limited liability.
Companies types in Peru:
- Joint Stock Company (S.A)
- Private Closed Corporation (SAC)
- Limited Liability Company (LLC)
- Private Limited Company (PLC)
2. Search for the company’s name availability in the Registry of Legal Entities
Once you are certain about the type of company that suits your business better, you may choose to search and reserve the company name before its constitution. This is not a mandatory step, but it’s recommended as it makes it easier to register your company in the National Public Registry records.
During the evaluation of the Name Reservation process, the Public Register verifies whether there is any coincidence between your company name/s and others found in the Register. The search will compare your company’s name against other businesses’ names, denominations, complete or abbreviated, etc.
3. Preparation of the Articles of Incorporation
The articles of incorporation have to be signed by a Peruvian lawyer and must contain the following information:
- Information regarding the company founders
- Company type
- The purpose of forming the company
- Authorized capital
- Bylaws
These are the foundations for you to create your company in Peru. Make sure you have all the information required and up to date to avoid any delays with the following step.
Note: To register a company in Peru, among all the information provided, you also have to appoint a registered office address and a legal representative for your company.
4. Register the company at SUNARP
Once the articles of incorporation are completed, we take it to a notary office where the notary public reviews it and converts it into a public deed. Subsequently, the notary or representative registers your company at the National Superintendence of Public Registries (SUNARP).
Once your company is registered in SUNARP, it officially exists! However, the process is not completed just yet. The following step entails visiting the national tax authority.
Note: Modifications of the company information and bylaws can be carried out afterwards at any time via a notary office.
5. Obtain a Taxpayer ID – RUC
After your company is registered in SUNARP, the next step is to apply for a Taxpayer ID. Every company in Peru is required to obtain a Taxpayer ID, otherwise sanctions will apply.
In Peru, your Taxpayer ID is your RUC number. RUC stands for ‘Registro Unico de Contribuyente’ or ’Unique Taxpayer Registry’ in English, and is composed of 11-digit number. To obtain a RUC number, you’ll need to submit the following documents to the National Tax Administration Superintendence:
- Articles of incorporation duly inscribed in SUNARP, no more than 30 calendar days old
- SUNAT registration forms
- The original ID of the legal representative
- A public or private document that shows your registered office address
All the registration forms for SUNAT have to be completed by the legal representative of your company.
6. Choose the Tax Regime for your Company
Whilst in SUNAT, at the same time we process the obtaining of the RUC, we must determine which tax regime we will choose for our company, for tax payments. There are four tax regimes considered, which are the following:
- New Single Simplified Regime (NRUS),
- Special Income Tax Regime (RER)
- MYPE Tax Regime (RMT) and
- General Regime (RG).
7. Formalize your company books
You’ll need to legalize your statutory and accounting books in the notary. For a Private Closed Corporation (SAC), the following applies:
- Statutory books include: Minutes and Registration of shares books
- Accounting books include: Sales, Purchases, and Daily books
8. Obtain your Municipal Operation License
The Municipal Operations License is the authorization granted by your corresponding Municipality to companies in commerce, industry or services, to start operations. This is requested in the Municipality of the district where your company will operate physically. In general, the documents that we must present are:
- Copy of the RUC.
- Zoning certificate (industrial zone, commercial zone, residential zone, etc.).
- Croquis of the location of the company
- Copy of the rental agreement or property title for the premises
- Copy of the Public Deed
- Receipt of payment for the license fee.
- The application form
This is followed by a safety inspection carried out by the National Institute of Civil Defense (INDECI), also called “Defensa Civil”. You have to make sure your office complies with safety regulations and has all the necessary safety equipment.
9. Open a bank account in the name of the company
As a final step, once you have your RUC number you can proceed to open a company bank account. Choose a local bank that offers you the best pricing structures regarding international transactions and other processes that you consider important. It’s recommended to contact a local professional who is knowledgeable about this process.
Bank accounts in Peru can be opened in USD and PEN. To open a bank account in Peru, you’ll need documentation related to your company along with an initial deposit in the account’s currency, these vary depending on the bank.
Get Assistance from Reelo Experts!
Peru is a country open to foreign investment with strong macroeconomic policies. To make sure you register a company in Peru the right way, get in touch with Easyco, our experts make sure you have a hassle-free company formation process that complies with all Peruvian laws.
At Reelo, we make company formation in Peru easy; our team of corporate experts have vast experience helping companies and individuals register their business in Peru, with a proven track record of success across all of our services. Reelo aims to tackle the complex company formation processes across LATAM and makes business registration easy by providing a hassle-free online company registration experience.
Easyco also provides additional services to guarantee your company compliance, which include:
- Appointment of legal representation,
- Providing a registered office address
- Handling tax and accounting
- Hassle-free Payroll Services
- Manage your Company bank account opening
- Manage your Trademark Registration
- Corporate Legal Services