Can foreign company invest in Peru?

Answers to your qestions about moving to, and living in, Peru,
kuranaga
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Can foreign company invest in Peru?

Postby kuranaga » Mon May 28, 2012 4:08 am

Hi

I have a question: can a foreign company invest (buy real estate or commerce) in Peru without partnership / ownership of a peruvian company? Many countries limit possibilities of foreign companies, e.g. in Brazil it is not possible without opening a brazilian "branch" of your company...

how is the situation in Peru? Anyone knows?

thanks


Jimmy111
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Re: Can foreign company invest in Peru?

Postby Jimmy111 » Mon May 28, 2012 9:35 pm

Yes, you can buy shares in an existing company or start your own company. You have to have someone who lives in Peru to be the responcible person for the company and to keep financial records.
A foreign company can buy property also but again there must be a person in Peru responcible.
VicManu

Re: Can foreign company invest in Peru?

Postby VicManu » Thu May 31, 2012 2:26 pm

kuranaga wrote:Hi

I have a question: can a foreign company invest (buy real estate or commerce) in Peru without partnership / ownership of a peruvian company? Many countries limit possibilities of foreign companies, e.g. in Brazil it is not possible without opening a brazilian "branch" of your company...

how is the situation in Peru? Anyone knows?

thanks


Yes. You have to apply to a independent investor visa to run a company in Peru.
http://www.expatperu.com/vrequirements.php#IIJ
J. Independent Investor

All the general requirements
Photocopy, either legalized by a notary or authenticated by the Peruvian General Directorate of Immigration and Naturalization (DIGEMIN), of the affidavit of the firm’s inscription in the Public Registry in which the interested party has invested a minimum of US $ 25,000 in cash or its equivalent in Peruvian currency.
In the case of a company that has recently been formed, evidence of market research, or in the case of a working company, its business plan for a period of two years, including the creation of five (05) employment positions within a period no longer than two years.
In the case of a transfer of stocks or shares, a copy of the General Meeting of Shareholders Minutes and of the Register of Shares Transfers (or of the Public Register of Shares Transfers) will also be required. These documents must be legalized by a notary or by DIGEMIN.
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craig
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Re: Can foreign company invest in Peru?

Postby craig » Thu May 31, 2012 5:03 pm

VicManu wrote:Yes. You have to apply to a independent investor visa to run a company in Peru.

Sorry, but that is not true.

Independent Investor is a type of residential visa NOT a requirement for doing business in Peru. They are two entrely different issues. Starting or investing in a business is a requirement for getting the visa NOT the other way around.

Most foreigners who set up and run businesses in Peru are not here on Independent Investor visas. They may come on temporary business visas, permanent worker visas, married to a Peruvian visas, etc. They can even be rentistas or just tourists. If they are tourists they they are supposed to get the permission to sign contracts for any contracts they enter into.
Last edited by craig on Thu May 31, 2012 9:37 pm, edited 2 times in total.
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chi chi
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Re: Can foreign company invest in Peru?

Postby chi chi » Thu May 31, 2012 5:30 pm

craig wrote:Most foreigners who set up and run businesses in Peru are not here on Independent Investor visas. They may come on temporary business visas, permanent worker visas, etc. They can even be rentistas or just tourists. If they are tourists they they are supposed to get the permission to sign contracts for any contracts they enter into.


Most foreigners I know run their business in their gf´s name. Least hassle with that.
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ABEJORRO
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Re: Can foreign company invest in Peru?

Postby ABEJORRO » Mon Jun 18, 2012 5:12 pm

Dear expats,

Watch out with investor's visas. DIGEMIN is now more strict and they verify all with their UVI office, firstly if you have no criminal records in your country of former residence and also if the money came to Peru in the legal and formal way.

Also this process takes longer than it is said at the DIGEMIN TUPA.

Yours,

Rafael Delgado
Rafael F. Delgado-Pacheco

http://www.delgadopachecolaw.com
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ariel
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Re: Can foreign company invest in Peru?

Postby ariel » Wed Sep 19, 2012 2:02 pm

kuranaga wrote:I have a question: can a foreign company invest (buy real estate or commerce) in Peru without partnership / ownership of a peruvian company? Many countries limit possibilities of foreign companies, e.g. in Brazil it is not possible without opening a brazilian "branch" of your company...


Our company is setting up an office in Lima. We retained a local law firm to set up the branch under its name, and then all shares will be transferred to us when we start business this year. It's that simple, at least in our case. You don't need to enter into a partnership with a local company to start your business in Peru.

Peru seems to have opened its doors to the international business community by relaxing what used to be the biggest hurdles in setting up shop. Some say that as a foreign investor, you basically get the same privileges (and burdens, for that matter) as the locals do. By contrast and as you know, in most countries there's a cap on foreign ownership to ensure that the locals get the majority of the shares. The only thing you have to comply with in Peru, or so I'm told, is the need for a local general manager who may or may not have shares but will handle all the operations and sign documents for the company. Our lawyer also told us that at least two shareholders are required for an S.A.C., one can have 1% of the shares and the other 99%.

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