How to set up a company in Peru with foreign partners — Updated Guide

Every year, more foreign investors decide to establish operations in Peru, attracted by its strategic location, trade agreements and macroeconomic stability. However, one of the first legal challenges is to understand How to open a company in Peru with partners who are not domiciled. In this guide, we explain the complete process, requirements and key steps for setting up a company in Peru as a foreigner, in accordance with current regulations.

Can foreigners legally set up a company in Peru?

Yes. In Peru, foreign citizens — natural or legal persons — can set up companies on an equal basis with Peruvians. No nationality or permanent residence is required to become a member or shareholder. What the law does require is that the company has a tax address in Peru And that you can count on a legal representative domiciled in the country. This representative can be a Peruvian or a resident foreigner.

Types of companies in Peru for foreigners: S.A.C., S.A.?

The types of companies most used by foreign investors are:

• Closed Limited Company (S.A.C.): up to 20 members, without the need for a directory. Flexible and widely used.
• Public Limited Company (S.A.): allows more than 20 partners and requires a directory. Useful for complex corporate structures.

Recommendation: S.A.C. is often the most efficient option in the early stages of a business expansion project. If required at the time, corporate regulation allows the modification of the corporate structure, resulting in a simple procedure.

Requirements to set up a company in Peru with foreign partners (long route)

1. Partner documentation

• Passport or identity document of the foreign partner.
• If you are a legal entity: a legalized copy of the statute, constitution and power of attorney of the representative.

2. Power for the proxy in Peru

• The act of constitution must be carried out by a proxy with express powers, appointed by foreign partners.
• The power must be apostilled or legalized through consular channels.

3. Other Prerequisites

• Tax address in Peru.
• Name of the company (reservation of denomination before SUNARP).
• Minimum share capital (there is no mandatory amount, except for special sectors).

Simpler alternative: constitution by local person and subsequent transfer of shares

In this case, the following is chosen:

1. A local partner or agent (natural or legal person) constitutes the company in Peru, on behalf of foreign partners (a mandate without fully legitimate representation in accordance with Peruvian regulations) with an initial participation of 100% (or other temporary distribution).
2. Once the company is established, foreign partners acquire the shares by means of a Contract for the declaration of true owner And a act of transfer of shares.

This operation avoids the processing of additional certification powers and procedures that may involve additional costs and time.