The world is more connected than ever, and mining technology and service companies are no exception. As they expand their reach globally, they need to follow their clients to new markets, from a copper mine high in the Andes to the icey cold winters of Northern Canada. When exploring new markets, it’s the classic “chicken or egg” dilemma: You want to see success before committing to the expenses of a local operation, but as soon as you start generating revenue, the risk of being classified as a PE increases.
Peru has a large project pipeline of mining projects totaling approx. USD$58bn and should be the focus market for mining suppliers due to the fact that the local miners are open to new technologies and it is still relatively open in terms of competition compared to Chile.
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.
Incorporating a local company is an important step for companies who are serious about servicing the Chilean market. The issue is that many foreign companies do not know the intricacies of the process in Chile.
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