Offshore registration in Peru

Offshore company registration in Peru

Peru – one of the largest states in South America, and consists of 295 provinces. Capital – Lima, monetary unit – new salt. The basis of the economy is the export of textiles and non-ferrous metals – gold, zinc, copper. The mining industry is the main direction for investment.

The export of capital from the country does not provide for obstacles, therefore the country is considered favorable for international business. Peru is not on the Ukrainian "black list" offshore.

Double tax treaties have been signed offshore Peru with Colombia, Bolivia, Ecuador, Venezuela, Chile, as well as Canada, Sweden, China.

Organizational and legal forms of companies

1. Limited company
2. Branch
3. Representation

In turn, offshore limited companies are presented in the form of a commercial company (like an LLC) and a corporation. There are three types of corporations.

• Open Joint Stock Corporation. The maximum number of participants – 750. The presence of the general director and the board of directors is mandatory. Shares must be listed on the stock exchange.
• Closed joint stock corporation. No more than 20 shareholders. A board of directors is not required, a CEO must be required.
• Private corporation. Liability is limited to the amount of the contribution, the number of shareholders is not limited.

Taxes and reporting

Corporate income tax is set at 30%, affiliates pay tax only on profits earned in Peru. VAT is 19%. For small and medium-sized businesses, if the annual income is not higher than 465,000 peruvian sols, the first two years of operation, VAT may be charged on the supply of 0.75% of the annual gross production.

Annual reporting is obligatory, for open corporations an audit of the financial report is provided.

The basic Crystal Tax package for registering a company in Peru includes the following services:

1. Preparation and registration of constituent documents.
2. Providing the legal address in the country and the address of the agent.
3. Pay registration fees.
4. Issuing share certificates and determining shares in the company.
5. Making a seal.

Those who intend to open a Peruvian bank account should remember that in some financial institutions, a minimum of 1,000 Peruvian sols, which is just over $300, will have to be paid for opening a bank account.

If you have any questions about how to open or buy an offshore company in Peru – ask them to Crystal Tax specialists. We are ready to give comprehensive advice, as well as help in choosing a direction for international business.