Business
Ley General de Sociedades with SA, SAC and SRL vehicles
Ley 26887, the Ley General de Sociedades, provides the sociedad anónima (SA), the closely held sociedad anónima cerrada (SAC) and the sociedad comercial de responsabilidad limitada (SRL). The SAC is the usual choice for small and medium businesses. Incorporation involves a notarial deed and registration in the Registros Públicos (SUNARP), plus a RUC from SUNAT.
Key rules
- Jurisdiction — National, with SUNARP registries and SMV supervision of public companies
- Deadline — Registration in SUNARP: typically one to two weeks after the deed
- Deadline — Annual shareholders' meeting: within three months of financial year end
Governing law
- Ley 26887 - Ley General de Sociedades
- Decreto Legislativo 1409sociedad por acciones cerrada simplificada
- Código de Comercio
In practice
The SAC limits itself to no more than 20 shareholders, may dispense with a board of directors and includes statutory pre-emption rights on share transfers, which is why it dominates closely held business. Decreto Legislativo 1409 added a simplified digital incorporation route (SACS) intended to shorten formation for micro and small enterprises.