If you have a business idea and want to formalize it, knowing how to start a business in Peru quickly and legally is a fundamental step to achieving success. Formalizing your company allows you to operate legally, access credit, and gain the trust of your customers. In this article, we guide you step by step to create your company and meet all the necessary requirements in the process.
Why Is It Important to Start a Business in Peru?
Formalizing a business brings numerous benefits for both entrepreneurs and established business owners:
Access to credit and financing: Only formalized companies can access bank loans and government financing programs.
Customer and supplier trust: Operating legally generates credibility and trust.
Legal protection: Establishing a company allows you to protect your personal assets from potential issues.
Access to tenders and tax benefits: Registered businesses can participate in public bids and access tax incentives.
Requirements to Start a Business in Peru
Before starting the formal process, it is important to know the basic requirements to create a company in the country:
Define the type of company:
Sole Proprietorship.
Individual Limited Liability Company (E.I.R.L.).
Closed Joint Stock Company (S.A.C.).
Limited Liability Commercial Partnership (S.R.L.).
Reserve the company name:
You must verify that the chosen name is not already registered in the SUNARP (National Superintendence of Public Registries) database.
Draft the company’s articles of incorporation:
A lawyer must draft the articles of incorporation, which include the company’s statutes and business type.
Sign the public deed before a notary:
The articles must be notarized with the signature of all partners.
Register with SUNARP:
Complete the company’s registration at SUNARP to obtain its official registration.
Obtain the RUC (Unique Taxpayer Registry):
This process is completed at SUNAT and is necessary to begin operations.
Open a business bank account:
With the RUC and incorporation documents, you can open a bank account in the company’s name.
Step-by-Step Guide to Start a Business in Peru
Below, we explain in detail how to start a business in Peru:
1. Reserve the Company Name
Visit the SUNARP website or office to search for and reserve your company’s name. This process ensures that no one else can use the name you choose.
2. Draft the Articles of Incorporation
Seek a lawyer’s help to draft the articles of incorporation for your company. This document must include:
Company name.
Type of company (S.A.C., S.R.L., etc.).
Information about the partners or owners.
Initial capital and share distribution.
3. Sign Before a Notary
All partners or owners must sign the articles of incorporation before a notary to elevate them to a public deed.
4. Register with the Public Registry
Submit the public deed to SUNARP to officially register the company. Once completed, you will receive the company’s official registration.
5. Obtain the RUC
Go to SUNAT with the official registration and your identification document to request the RUC. This step is mandatory to issue invoices and pay taxes.
6. Open a Business Bank Account
With the official registration and RUC, you can open a business bank account. This account allows you to manage your company’s finances formally.
Common Mistakes When Starting a Business in Peru and How to Avoid Them
When starting a business, it is common to make mistakes that delay the process or cause future problems. Some common errors include:
Not defining the appropriate company type: It’s important to know the advantages of each type of company.
Not reserving the company name: Failing to verify the name in advance may lead to legal issues.
Poorly drafted statutes: Incomplete statutes can cause conflicts among partners.
Not obtaining the RUC on time: Without this registration, you won’t be able to operate or issue payment receipts.
Having the support of a lawyer and process specialists will help you avoid these errors.
Benefits of Formally Starting a Business in Peru
Access to financing and bank loans.
Participation in public and private bids.
Protection of personal assets when operating as a legal entity.
Compliance with legal and tax obligations.
Creation of formal employment and contribution to economic development.
Protect Your Business From the Start: Register Your Trademark
When starting a business in Peru, it is not only important to formalize it but also to register your trademark to protect your business identity. A trademark registration grants you exclusive rights to your company’s name and logo, preventing third parties from using them without authorization.
Formalize your business today. Contact us at info@ef-legal.com and get specialized advice to start your company in Peru quickly and efficiently.
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