Company Types in Peru: Private Closed Corporation (SAC)

When looking to create a company in Peru, you may choose between various company types. However, there is one company type that brings great benefits due to its simple, flexible structure. This company type is the Private Closed Corporation (SAC).

In this article, you can learn about what a SAC in Peru is, its benefits, and how it is formed. To have Easyco set one up, see our company registration in Peru service.

• What is a SAC company?

A Private Closed Corporation (Sociedad Anónima Cerrada in Spanish), commonly known as a SAC, is the most popular type of company in Peru.

A SAC can be created with a reduced number of people: a minimum of 2 and a maximum of 20 shareholders, and these can be individuals or companies, resident or not. If the number of shareholders drops to one, the company has six months to restore at least two or it is dissolved by law. There is no legal minimum capital, but all shares must be subscribed and at least 25% of each share paid in at incorporation.

It is most popular for mid-sized, small businesses, and startups due to its dynamic structure. Meaning that it is easier to change ownership or grant equity at any given time. It is also suggested for big companies that want to start small operations in Peru or test the market without committing to a rigid company structure.

• Benefits of a SAC

• Limited Liability: The shareholders do not have personal liability and their responsibility ends with their share capital contribution.

• Ownership: A SAC structure facilitates granting equity to employees, advisors, and investors.

• Shares: The representation of the company’s share capital is through shares. Unless the bylaws say otherwise, a shareholder who wants to sell to a third party must first offer the shares to the other shareholders, who have a pre-emptive right.

• Optional directory: It has no obligation to create a directory. Which makes dealing with company responsibilities and changes much simpler. In the event that there is no Board of Directors, the General Manager could assume the duties of the Director. When forming a company, Easyco does not add a directory. You may choose to change this later.

• Dissolution: The company is dissolved by the expiration of its term, completion of its corporate purpose, an agreement adopted under the statute, and other options provided by Peruvian law.

A S.A.C. cannot list its shares in the Public Registry of the Securities Market. If that is needed later, the company can be converted into another type.

• How a S.A.C. is formed

  The shareholders sign the articles and bylaws, prepared by a Peruvian lawyer, before a notary, who files the public deed with SUNARP. Once it is registered, SUNAT assigns the company its RUC. For every step, read how to set up a company in Peru.

Get help from Easyco

Easyco coordinates company formation in Peru up to the issue of the RUC, and supports companies afterwards with tax, accounting, payroll and legal representation. Contact us to discuss your project.

Easyco also provides:

• Appointment of a legal representative
• Providing a registered office address
• Handling tax and accounting
• Payroll and employer of record services
• Support with your corporate bank account opening
• Trademark registration with INDECOPI
• Recruiting and hiring