SOLE PROPRIETOR???

Answers to your qestions about moving to, and living in, Peru,
Philipc4u59
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SOLE PROPRIETOR???

Postby Philipc4u59 » Fri Aug 30, 2013 9:40 am

In the US; I started new ventures as a sole proprietor - using my name and SS for all the formation.
Using your own name, you did not have to register a fictitious name with the town/county or state.
Using your personal SS number, this was acceptable for tax purposes; not in Peru (it appears).

These are the legal forms of corporations that I see on the Internet:
* CORPORATION
* CORPORATION - S.A.
* CLOSED CORPORATION - S.A.C.
* OPEN CORPORATION - S.A.A.
* SOCIEDAD COLECTIVA (GENERAL PARTNERSHIP
* SOCIEDAD en COMANDITA (LIMITED PARTNERSHIP)
* SOCIEDAD CMERCIAL de RESONSABILIDAD LIMITADA - S.R.L. (LIMITED LIABILITY COMMERCIAL PARTNERSHIP)
* SOCIEDAD CIVIL (CIVIL COMPANY)

WOW!!!
In the US, you have just a few options for your corporation & in the charter; you identify your business.

But back to my post; a SALES business (in the start-up phase) is best served by a SOLE PROPRIETORSHIP:

1. The business has no costly fees to the State; can be established in a few hours (no attys. needed).
2. As there is no need for a formal OFFICE; no need for town/county/state - zoning approval.
3. Virtually everything is handled thru the "greatest invention of all time" - the Internet!
4. Sales meeting and reporting can all be handled with various Internet forums; you can be in Hawaii and still conduct business. I wish this were an option in Peru; maybe it is?

Business people, expats, etc. - please help me to understand how to do business - SIMPLY - in Peru.
Your comments and suggestions are tremendously valued by me (possibly others),
Philip :roll: :roll: :roll: :roll: :roll: :roll: :roll:
Last edited by Philipc4u59 on Sat Aug 31, 2013 7:12 am, edited 2 times in total.


Alpineprince
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Re: SOLE PROPRIETOR???

Postby Alpineprince » Fri Aug 30, 2013 11:15 am

In another post you claimed to have met with "your" lawyer and highly recommended him! Why not consult with him to get your business up and running?
Philipc4u59
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Re: SOLE PROPRIETOR???

Postby Philipc4u59 » Fri Aug 30, 2013 2:45 pm

Peru really doesn't understand (or appreciate) how a SOLE PROPRIETOR business operates.
My attorney recommended a SRL - still to complicated & costly for me.
Thanks for your concern & suggestion.

Where do all the fees go? In the US, we used to joke "to fill another pot-hole (defect in the road)"

Philip :roll:
PS - simple is better - for me; later I feel the SRL would be a good fit for my business
argidd
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Re: SOLE PROPRIETOR???

Postby argidd » Sat Aug 31, 2013 8:51 am

Philipc4u59 wrote:Peru really doesn't understand (or appreciate) how a SOLE PROPRIETOR business operates.
My attorney recommended a SRL - still to complicated & costly for me.
Thanks for your concern & suggestion.

Where do all the fees go? In the US, we used to joke "to fill another pot-hole (defect in the road)"

Philip :roll:
PS - simple is better - for me; later I feel the SRL would be a good fit for my business



And he didn't recommend an EIRL (empresa individual de responsabilidad limitada/ individual business of limited responsibility)? Did he specify why?

I don't think it's a matter of "Peru" not understanding one thing or another, it is what it is, and one has to work around it.
Regards,

Argidd
Philipc4u59
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Re: SOLE PROPRIETOR???

Postby Philipc4u59 » Sat Aug 31, 2013 12:15 pm

Argidd,

No, he didn't mention this option; maybe I should hire YOU as my attorney.
I have found; attorneys (no matter where) - will usually suggest the most expensive way to proceed.

Thanks a lot,
Philip :roll:
PS - what nationality are you; very unique first name...
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sbaustin
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Re: SOLE PROPRIETOR???

Postby sbaustin » Sat Aug 31, 2013 4:21 pm

Phil, did you mention to your attorney that you were going to take on partners now or in the future? Also, what did your attorney explain to you for his reasoning for selecting the entity he suggested. Did your attorney not explain to you the steps to formalizing a company besides selecting the type?

Nothing in Peru is easy and formalizing a business is only the first step before you have to do a million other things like printing out facturas (you can't do this on your printer)/boletas, opening bank accounts, and a myriad of other items that consume time and money but are required. In my opinion, you are wasting your time comparing the USA to Peru and asking why all the time.
ironchefchris
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Re: SOLE PROPRIETOR???

Postby ironchefchris » Sun Sep 01, 2013 9:32 am

Philipc4u59 wrote:Peru really doesn't understand (or appreciate) how a SOLE PROPRIETOR business operates.


:roll:

argidd wrote:
Philipc4u59 wrote:Peru really doesn't understand (or appreciate) how a SOLE PROPRIETOR business operates.


I don't think it's a matter of "Peru" not understanding one thing or another, it is what it is, and one has to work around it.


As The Fonz would say, "Exactamundo." Just because a country has laws and customs that are different from the US does not mean they don't understand or appreciate those laws and customs. Not every country in the world strives to be like the US. (Thank goodness)

sbaustin wrote:In my opinion, you are wasting your time comparing the USA to Peru and asking why all the time.


HOWEVER, there IS a place where the customs, laws, manner of doing business, and even the language are the EXACT same as they are in the US. It's called the USA.
panman
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Re: SOLE PROPRIETOR???

Postby panman » Sun Sep 01, 2013 11:59 am

ironchefchris wrote:
Philipc4u59 wrote:Peru really doesn't understand (or appreciate) how a SOLE PROPRIETOR business operates.


:roll:

argidd wrote:
Philipc4u59 wrote:Peru really doesn't understand (or appreciate) how a SOLE PROPRIETOR business operates.


I don't think it's a matter of "Peru" not understanding one thing or another, it is what it is, and one has to work around it.


As The Fonz would say, "Exactamundo." Just because a country has laws and customs that are different from the US does not mean they don't understand or appreciate those laws and customs. Not every country in the world strives to be like the US. (Thank goodness)

sbaustin wrote:In my opinion, you are wasting your time comparing the USA to Peru and asking why all the time.


HOWEVER, there IS a place where the customs, laws, manner of doing business, and even the language are the EXACT same as they are in the US. It's called the USA.


I think, reading between the lines, the big problem with quite a lot of disgruntled ex- pats here is that they've failed in some way in their previous lives back home, and are here thinking that things will be given on a plate just because of where they're from and the speak English.... Cue very rude awakening.
When in Rome etc etc, is the only way you'll get on as an invited guest living in any another country.
For all those who can't accept that, I would suggest buying a ticket back home before the money runs out.
Philipc4u59
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Re: SOLE PROPRIETOR???

Postby Philipc4u59 » Sun Sep 01, 2013 9:23 pm

If one country has a 'BETTER" system to encourage start-up businesses; it shouldn't matter what that country!
If they build a better mouse trap in "XYZ-land"; that's the one I want to get rid of the vermon.
It is not a USA is better; but in small business encouragement & simplicity; they are so much BETTER than Peru.

No one sees me complain about the food choices in Peru; because Peru is so much BETTER than the US.
It is not some kind of "contest" over anything; if the FACTS signal a certain direction, I will follow.
Maybe if enough expats (with the dreams & money to start a business); should make their concerns "heard".

Viva el Peru,
Philip :roll:

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