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Peru Company Incorporation

Updated:2018-10-18 11:14:08    Source:www.tannet-group.comViews:32

Peru company incorporation is a good choice for investors to cater to the South American market. The Republic of Peru is a country in western South America. The country’s economy is classified as upper middle income by the World Bank and is the 39th largest in the world. Also, it has a high Human Development Index. The major industries in Peru are manufacturing in textile sector and construction material, agriculture, fishing, mining and Hydrocarbons. The following is an overview on incorporating a company in Peru.

Types of Business Entities in Peru
Depending on the activity that you plan to undertake, there are different legal entities regulated by the Peruvian Companies Law that can be incorporated in Peru are mentioned below:

1. Joint Stock Company (Sociedad Anónima or S.A);
2. Private Closed Corporation (Sociedad Anónima Cerrada or S.A.C);
3. Public Corporation (Sociedad Anónima Abierta);
4. Limited Liability Company (Sociedad Comercial de Responsabilidad Limitada or S.R.L);
5. Branch (Sucursal).

The time-frame for incorporating a company in Peru varies from depending on the type of entity selected and sometimes unforeseen hurdles can arise. Each business type has its own advantages and disadvantages.

Benefits of Registering a Company
Below are the advantages of company formation in Peru:
1. Fastest growing economies in Latin America;
2. Responsible and Sound economic policies to boost investors;
3. Unrestricted access to economic sectors;
4. Free transfer of capital;
5. Private Property protection;
6. Free access to local and overseas credit;
7. Free remittance of royalties;
8. Freedom to maintain deposits overseas;
9. Free access to Foreign Exchange.

Company Formation Requirements
Every company incorporated in Peru must file monthly and annual declarations, have a Registered Office Address and appointed Legal Representative, which is the legal face of the company to the Governmental Authorities (and as such holds some legal liabilities). This person must either be a local national or a foreign national with a visa. This is not necessarily the owner of the company, but the person that is responsible for the good management of the company.

In short, every legal entity in Peru must do the following:
1. Appoint a Legal Representative (has to be a Peruvian National or a Foreigner with a local ID);
2. Have a local address (i.e. your fiscal address);
3. File your Monthly and Annual Tax Declarations.

Legal and Compliance
In Peru, the responsibility of legal compliance is not a one-time affair, but a continuous process. Below is the various Peru legal and compliance requirement to be followed by incorporated entities:

1. Peru does not impose foreign-currency controls. Exchange rates are determined by supply and demand.
2. Taxpayers that must file a transfer-pricing study must file it in June of the following fiscal year in accordance with the Tax Administration’s schedule.
3. Submit monthly security premium of 8% of the employee gross monthly salary with the Peruvian Social Tax Scheme.

Registering a company in Peru is a legitimate way for global entrepreneurs and foreign companies to conduct business not only in the country, but also throughout South America. Tannet has maintained close relationship with local professional associates. We provide a full ranges of services for you to do business in Peru, including company formation, bank account opening, accounting and tax filing, trademark registration, and secretarial compliance, etc.

Contact Us
If you have further inquires, please do not hesitate to contact Tannet at anytime, anywhere by simply visiting Tannet’s website www.tannet-group.net, or calling Hong Kong hotline at 852-27826888 or China hotline at 86-755-82143512, or emailing to tannet-solution@hotmail.com. You are also welcome to visit our office situated in 16/F, Taiyangdao Bldg 2020, Dongmen Rd South, Luohu, Shenzhen, China.

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