Peru is a South American country that has seen significant growth in recent years. With a population of over 32 million people, Peru is home to a diverse economy that includes industries such as mining, agriculture, and tourism. If you’re interested in starting a business in Peru, there are several steps you need to take to register your company.
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Choose a business structure
The first step in registering a business in Peru is to choose a business structure. There are several options to choose from, including:
Sole proprietorship: This is the simplest and most common business structure. As a sole proprietor, you’re the only owner of the business, and you’re responsible for all aspects of the company’s operations.
Partnership: A partnership involves two or more people who share ownership of the business. Partnerships can be general or limited, depending on the level of control and liability each partner has.
Corporation: A corporation is a legal entity that’s separate from its owners. This means that the corporation can own assets, enter into contracts, and be sued in its own name.
Limited liability company (LLC): An LLC is a hybrid business structure that combines the liability protection of a corporation with the tax benefits of a partnership.
Choose a business name
Once you’ve decided on a business structure, you need to choose a name for your company. Your business name should be unique and not already in use by another company in Peru. You can check the availability of a business name through the National Superintendence of Public Registries (SUNARP).
Register your business
To register your business in Peru, you need to obtain a tax ID number (RUC) from the National Superintendence of Tax Administration (SUNAT). You’ll also need to register your business with the National Superintendence of Public Registries (SUNARP) and obtain a commercial registration number (NCR).
Obtain licenses and permits
Depending on the type of business you’re starting, you may need to obtain additional licenses and permits from government agencies. For example, if you’re starting a restaurant, you’ll need to obtain a food service permit from the Ministry of Health.
Open a bank account
To operate your business in Peru, you’ll need to open a bank account. You’ll need to provide your tax ID number (RUC) and commercial registration number (NCR) when opening the account.
Hire
employees
If you plan to hire employees for your business, you’ll need to register with the National Superintendence of Labor Inspection (SUNAFIL) and obtain an employer identification number (EIN).
Pay taxes
As a business owner in Peru, you’ll be required to pay taxes. You’ll need to register with the National Superintendence of Tax Administration (SUNAT) and obtain a tax ID number (RUC).
Generis Global can help you with your business in Peru
Starting a business in a foreign country can be a challenging process. Generis Global can help you navigate the legal and regulatory requirements of starting a business in Peru. Our team of experienced professionals can assist you with every step of the process, from choosing a business structure to registering your company with government agencies. Contact us today to learn more about how we can help you with your business journey in Peru.