Regulation Defines Necessary Documentation

A recent decision of the National Superintendence of Public Registries outlines the documentation necessary for foreign companies wishing to operate in Peru. A foreign corporation may operate without establishing a branch or forming a Peruvian company, according to the law. All that the corporation must do is empower an agent(s) with special or general powers, and register this empowerment at the Commercial Registry.

However, until the enactment of this new regulation, Peruvian law did not state which documents must accompany registration. The new decision determines that the following documents are required:

• a certificate of operation for the foreign corporation, issued by the competent authority of the country of origin;
  
  
• an affidavit from a legal agent of the corporation stating that, according to the corporation bylaws and the laws of the country of origin, the coporation may empower someone in its name;
  
  
• an affidavit of a competent authority from the country of origin affirming the above; and
  
  
• an instrument of juridical validity that proves the contents of the affidavits presented.

For further information on this topic please contact Jose Antonio Olaechea at Estudio Olaechea by telephone (+511 264 4040) or by fax (+511 264 4050) or by e-mail ([email protected]).