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 to successfully register it!
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 natural or legal persons.
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. And these can be sold/transferred to other shareholders or third parties at any time.
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.
Please keep in mind a SAC cannot register its shares in the Public Registries of the Stock Market. However, you can change the company type at any time.
Completion time for company formation
The expected time to form a SAC in Peru, with local shareholders is around 10 to 15 business days. Although please be mindful that times may vary due to the COVID19 state of emergency.
Get Assistance from Easyco Experts!
Peru is a country open to foreign investment with strong macroeconomic policies. To make sure you register a company in Peru the right way, get in touch with Easyco, our experts make sure you have a hassle-free company formation process that complies with all Peruvian laws.
At Easyco, we make company formation in Peru easy; our team of corporate experts has vast experience helping companies and individuals register their business in Peru, with a proven track record of success across all of our services. Easyco aims to tackle the complex company formation processes across LATAM and makes business registration easy by providing a hassle-free online company registration experience. Start your company in Peru today!
Easyco also provides additional services to guarantee your company’s compliance, which include: