DOING BUSINESS IN PERU IN 2023
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. Healy Consultants Group PLC provides company registration services to our Clients willing to expand to this market.
Since 2003, Healy Consultants Group PLC has assisted our Clients with business registration in Peru. Our services include i) Peru company incorporation ii) government license registration iii) business bank account opening iv) employee recruitment v) visa strategies and vi) office rental solutions.
| Compare different Peru entities | Tax resident LLC | Free Zone Company | Joint Stock company | Branch | Nominee fast solution |
|---|---|---|---|---|---|
| Also known as | S.R.L | SL or SA | Sociedad Anonima | Surcusal | Solucion rapida |
| Best use of company? | All products and services | Manufacturing and trading | Production company | Specific projects | Close a customer deal now |
| How soon can you invoice Clients/sign sales contracts? | 6 weeks | 7 weeks | 4 months | 7 weeks | 4 weeks |
| How soon can you hire staff? | 6 weeks | 7 weeks | 4 months | 7 weeks | 4 weeks |
| How soon can you sign a lease agreement? | 6 weeks | 7 weeks | 4 months | 7 weeks | 4 weeks |
| How long to supply corporate bank account numbers? | 10 weeks | 11 weeks | 8 months | 11 weeks | 5 weeks |
| How long to supply company registration / tax numbers? | 10 weeks | 11 weeks | 8 months | 11 weeks | 5 weeks |
| Corporate tax rate on annual net profits? | 29.5% | 0% | 29.5% | 29.5% | 29.5% |
| Limited liability entity? | Yes | Yes | Yes | No | Yes |
| Resident director/partner/manager/ legal representative required? | Yes | Yes | Yes | Yes | Yes |
| Minimum paid up share capital? | US$1 | US$1 | US$1 | none | US$1 |
| Corporate bank account location? | GNB Bank | Citi Bank | Deutsche Bank | GNB Bank | SCB |
| Can secure trade finance? | Yes | No | Yes | Yes | No |
| VAT payable on sales to local customers? | 18% | 18% | 18% | 18% | 18% |
| Average total business set up engagement costs? | US$16,000 | US$17,890 | US$17,300 | US$17,300 | US$21,360 |
| Average total engagement period? | 3 months | 4 months | 4 months | 4 months | 3 months |
| Accounting and tax considerations | Tax resident LLC | Free Zone Company | Joint Stock company | Branch | Nominee fast solution |
|---|---|---|---|---|---|
| Statutory corporate tax payable? | 29.5% | 0% | 29.5% | 29.5% | 29.5% |
| Legally tax exempt if properly structured? | No | Yes | No | No | No |
| Must file an annual tax return? | Yes | Yes | Yes | Yes | Yes |
| Must file annual financial statements? | Yes | Yes | Yes | Yes | Yes |
| Must appoint an auditor? | No | No | Yes | No | No |
| Access to double taxation treaties? | Yes | Yes | Yes | Yes | Yes |
| Withholding tax on payments to foreign shareholders? | 5% | 5% | 5% | 5% | 5% |
| Company Registration | Tax resident LLC | Free Zone Company | Joint Stock company | Branch | Nominee fast solution |
| Resident director/partner/manager/ legal representative required? | No | No | No | Yes | No |
| Minimum number of shareholders/partners? | 2 | 2 | 2 | Parent company | 2 |
| Maximum shareholding for foreigners? | 100% | 100% | 100% | 100% | 100% |
| Minimum statutory paid up share capital? | US$1 | US$1 | US$1 | None | US$1 |
| Shelf companies available? | Yes | No | Yes | No | Yes |
| Time to incorporate a new entity? | 6 weeks | 7 weeks | 4 months | 7 weeks | 4 weeks |
| Can easily convert to a PLC? | Yes | Yes | Yes | No | Yes |
| Public register of shareholders and directors? | Yes | Yes | Yes | Yes | Yes |
| Can have preference shareholders? | Yes | Yes | Yes | No | Yes |
| Business Considerations | Tax resident LLC | Free Zone Company | Joint Stock company | Branch | Nominee fast solution |
| Good entity for trademark registration? | Yes | Yes | Yes | Yes | Yes |
| Can secure an import and export license? | Yes | Yes | Yes | Yes | Yes |
| Government grants available? | Yes |
| Government approval required for foreign owners? | No |
| Can bid for Government contracts? | Yes |
| Sponsorship by a local citizen required? | No |
| Our Client needs to travel to Peru for business set up? | No |
| Temporary physical office solutions available? | Yes |
| Group HQ tax incentives? | No |
| Security deposit to be kept with Government? | No |
| You need a local resident as bank signatory? | No |
| Can be wholly foreign owned? | Yes |
| The entity will likely be regulated by? | Public Register of Peru |
| Minimum number of directors/managers? | 1 |
| Monthly VAT reporting to the Government? | Yes |
| Must sign an office lease agreement during incorporation? | No |
| Shareholders & directors documents to be attested/translated? | Yes |
| Each foreign director needs a personal income tax number? | Yes |
| Foreign director needs a residence visa? | No |
| Maximum number of staff allowed? | No maximum number for any entity |
| Expatriate to local staff ratio? | None |
| Can secure residence visa for business owner? | Yes |
| Other useful information | |
| What will be included in my customer sales invoice? | Click link |
| This country has signed free trade agreements? | Yes |
| This country is a member of WIPO/TRIPS? | Yes |
| This country is a member of the ICSID? | Yes |
| Average custom duties suffered? | 2.2% |
| Government foreign investment approval required? | No |
| Average monthly office rental? (US$ per sq m) | US$20 |
| Minimum statutory monthly salary? | US$261 |
| Average monthly US$ salary for local skilled employees? | US$557 |
| US$ deposit interest rate? (1 year average) | 0.22% |
| Overseas remittance currency controls? | None |
| Banking considerations | |
| Multi-currency bank accounts available? | Yes |
| Corporate visa debit cards available? | Yes |
| Quality of e-banking platform? | Good |
| Crowd funding available in this country? | Yes |
