Colombia always had the potential to become a major mining jurisdiction but the mining sector is now completely frozen. There is a high level of uncertainty due to the governments push to reform the mining code, create a state mining company, and new a environmental decree.
It was previously time consuming and complicated to incorporate a company, particularly for foreign companies that were looking to enter the market. This changed in 2017 when a new corporate vehicle was introduced known in Spanish as Sociedad por Acciones Simplificada (“SAS”).
It is not always exciting to think about but how we grant powers and structure companies from a corporate governance perspective but it plays an important role in how we protect the foreign shareholder and ensure the local entity is operating to the highest standard.
Chile uses electronic invoicing but many companies do not know that they only have 8 days to reject an invoice. If an invoice is not rejected then it can be used as evidence that a service was provided even when it was not.
It is important for international companies to understand how contracts and specific clauses are dealt with in each country they are operating in. We provide a practical guide to clauses in Peruvian contracts.
Over the last 10 years, the Ax Legal team has helped many companies to enter and to operate in Peru. We have put together a comprehensive guideline of the relevant steps, timeframe and some of the important requirements needed to be completed when incorporating a company in Peru.
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