Establishing a Company in Peru: Practical Guide for Mining Suppliers

Peru remains one of Latin America’s top destinations for foreign direct investment, ranking just behind Brazil, Colombia, and Chile. Despite ongoing political uncertainty in recent years, the country continues to attract strong interest from the international mining sector, which remains a cornerstone of its economy.

For mining technology and service companies, Peru represents a strategic and fast-evolving market. The country hosts a large number of operational mines that are actively investing in productivity, automation, and sustainability, creating strong demand for innovative foreign suppliers. The outlook could become even more promising as the country advances a USD$60 billion mining project pipeline.

The country is already home to world-class operations such as Las Bambas, Cerro Verde, and Antamina. Recent additions include Anglo American’s Quellaveco mine, now in full production and recognized as one of the most technologically advanced mining operations globally. Looking ahead, Teck’s USD $2 billion Zafranal copper project is expected to begin construction in 2026, while Southern Copper’s USD $1.8 billion Tía María project is also anticipated to finally move forward after years of delays.

Over the past few years, many foreign METS companies have visited Peru to assess market opportunities. Interest is high, and a growing number of these companies are now advancing proposals and pilot projects with Peruvian clients. As these opportunities take shape, suppliers face a critical decision: whether to enter through a local partner, serve the market remotely, or establish a local legal entity. 

To support this process, Ax Legal has prepared a comprehensive guide outlining the key steps, practical considerations, and timelines involved in incorporating a company in Peru.

Step 1 – Documents Needed from Foreign Shareholders

For foreign companies, we will require powers of attorney to act on their behalf. This involves issuing a Power of Attorney (POA) by the foreign company, which must then be registered with the Peruvian Public Registry. The following documents are required:

• Power of Attorney authorizing the incorporation of a company in Peru, duly signed before a public notary and apostilled or legalized (as applicable in the shareholder’s country).

• Certificate of Good Standing of the foreign company, which must also specify the company’s shareholders. This document must be apostilled or legalized.

• Certificate of Incumbency issued by the relevant authority confirming that the individual granting the POA is authorized under the company’s articles of incorporation to act as its legal representative. This certificate must state the full name and domicile of the signatory and be apostilled or legalized.

All documents must be provided in original form and accompanied by an official translation before they can be filed with the Peruvian Public Registry. The registration process typically takes 7–10 days.

Ax Legal Practical Advice: To avoid delays, it is possible to incorporate the company using Ax Legal as the initial shareholder, and subsequently transfer the shares to the foreign shareholder once their documents are ready. This approach allows the incorporation process to move forward without waiting several weeks or months to collect, notarize, and apostille foreign documents.

Step 2 – Incorporation Process

Once the foreign shareholder documentation is complete, we can proceed with the formal incorporation process:

1. Name search and reservation with the Public Registry (1–2 days)

2. Drafting of articles of incorporation (bylaws) (2 days)

3. Delivery of articles to a public notary (1 day)

4. Opening a bank account and depositing the initial capital (1 day)

5. Execution of the public deed of incorporation, including the bylaws and deposit certificate, signed by the shareholders or their representatives (1–5 days)

6. Filing of the public deed with the Public Registry for official company registration (approximately 10 days)

Ax Legal Practical Advice: These are standard timeframes; however, delays can occur when dealing with government offices and banks. This is especially important for companies that secure a contract before incorporation and then need to set up quickly to import goods, hire staff, or issue invoices. Commercial teams should be aware of these timelines to plan accordingly with clients.

Step 3 – Tax Number Registration

Once the company is registered, the tax number (RUC) can be obtained from the Peruvian tax authority (SUNAT). The legal representative must file the required forms and supporting documents. This process typically takes 1–3 days.

Ax Legal Practical Advice: A company can be legally incorporated without immediately initiating tax activities. This can be useful for businesses that want to finalize their structure but avoid ongoing accounting and tax obligations until operations begin. 

Step 4 – Legalization of Corporate Books

After the company is registered and has obtained its tax number, it must open and legalize its corporate books at a public notary. This step usually takes 1–2 days.

Ax Legal Practical Advice:At this stage, the company can begin the process of opening a bank account, which can often take several weeks to complete and gain full access. Having a team with strong banking relationships is crucial, as their involvement can significantly expedite the process and help navigate the banks’ internal procedures.

Conclusion

The Peruvian mining sector remains a highly attractive market for international mining suppliers, which explains the growing interest from foreign METS companies. Each company must carefully evaluate how best to service the market, taking into account factors such as the complexity of their solution, the size and duration of contracts, client expectations, and long-term growth plans. For many technology and service providers, having a local presence can be a decisive factor in winning tenders, delivering projects effectively, and building strong client relationships.

Once the strategic decision is made, understanding the incorporation process and operational timelines becomes critical. While establishing a local entity in Peru is relatively straightforward, success depends on navigating regulatory steps efficiently and avoiding common pitfalls. Working with a trusted local partner who understands both the legal landscape and the mining industry ensures the process is done correctly, allowing companies to focus on what matters most, winning business and scaling in one of the region’s most important mining markets.

Ax Legal helps industrial technology, engineering, and service companies to navigate the legal and commercial aspects of operating their business in Latin America. With deep knowledge of the industrial and natural resource sectors, we provide actionable and practical advice to help streamline our clients’ entries into Latin America, improve how they operate in the region, and to protect their interests.

Over the years, our team of legal and commercial advisors have developed a track record of working with companies of all sizes from Australia, Canada, the U.S., and Europe. The one common factor that connects our clients is that they are leaders in their field, providing innovative technologies and services to the industrial sectors.

To better understand how we can support you in the Region, please contact Cody Mcfarlane at cmm@ax.legal