Luis Fuentes, a finance specialist and international business expert, serves as Corporate Affairs Director at Alligare International LLC and leads Estudio Fuentes. With over 10 years of experience, he excels in financial advisory, business internationalization, and strategic corporate solutions, helping companies in Latin America, Europe, and Asia expand globally.
Open a corporate bank account in Lima Peru requires gathering company documents like the RUC, articles of incorporation, and legal ID. You must visit a Peruvian bank and complete the verification process. Choosing the right bank and seeking legal advice is highly recommended. This is essential for businesses operating legally in Peru.
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What Documents Do You Need to Open a Corporate Bank Account in Peru?
To open a corporate bank account in Peru, you’ll need to submit your company’s Articles of Incorporation, tax identification number (RUC), and the ID of the legal representative. Additional documents like bylaws, appointment resolutions, signature cards, and references may also be required depending on the bank.
Below is a breakdown of the key documents you’ll need to prepare.
What Is the Company’s Articles of Incorporation and Why Is It Required in Peru?
A copy of your company’s founding documents that legally establish your business in Peru.
What Is the Company’s Tax Identification Number (RUC) in Peru?
Your company’s tax ID number, equivalent to an EIN in the U.S., which is required for all financial operations in Peru. This is issued by SUNAT (Superintendencia Nacional de Administración Tributaria).
What Proof of Identity Is Needed for the Legal Representative in Peru?
A document proving the identity of the company’s legal representative (e.g., passport or Documento Nacional de Identidad – DNI).
What Other Supporting Documents Might Be Required by Banks in Peru?
Peruvian banks may also ask for bylaws, appointment letters, signature cards, business references, and passport-size photos. These documents help verify internal company structure and authorized representatives.
What Steps Should You Follow at the Bank Branch in Peru?
Once you have all the necessary documents, the next step is to visit a branch of your chosen bank in Peru. There, you will fill out the application form, submit your paperwork, and answer questions about your business. The bank may also carry out a verification process and request further details before approving the account. Banks such as Banco de Crédito del Perú (BCP), Interbank, and Scotiabank Perú are among the most common choices for businesses.
What Other Important Considerations Should You Keep in Mind When Opening a Corporate Bank Account in Peru?
When opening a corporate bank account in Peru, consider choosing a bank that fits your business needs, understand all regulatory requirements, and ensure your documents are in Spanish or officially translated. Legal guidance is recommended to avoid compliance issues.
What Bank Should You Choose in Peru for a Corporate Account?
Research different banks in Lima and compare their services, fees, and corporate account requirements to find one that suits your business profile. Many foreign investors choose BCP, Interbank, or BBVA Perú for their accessibility and international support.
Why Is Legal Advice Important When Opening a Bank Account in Peru?
Consulting a legal expert or company formation specialist in Peru helps ensure that you comply with all relevant banking and corporate regulations, including those enforced by SUNARP and SUNAT.
What are the minutes of incorporation?
It’s a document that defines the company’s structure, objectives, and essential legal details.
Do You Need to Speak Spanish to Open a Corporate Bank Account in Peru?
Yes, since Spanish is the official language, be prepared to complete forms and communicate in Spanish or have certified translations when necessary. Some banks offer limited support in English for foreign clients.
What Other Questions Do People Ask About Opening Business Bank Accounts in Peru?
Here are some frequently asked questions that provide further clarity for foreign entrepreneurs and investors looking to do business in Peru:
Can a foreigner open a business bank account in Peru?
Yes, foreigners can open a business bank account in Peru, but they must first register a legal entity in the country and appoint a local legal representative. Registration is typically done through SUNARP.
How do I register my business in Peru?
You must choose a company type, reserve your business name, prepare articles of incorporation, and register with SUNARP and SUNAT to obtain your RUC.
What is the best bank in Peru for foreigners?
BCP, Interbank, and Scotiabank are popular among foreigners due to their international services and English-speaking staff in some branches.
Is Wise available in Peru?
Yes, Wise (formerly TransferWise) operates in Peru and can be used for international business transactions and currency conversion.
What is needed to open a corporate bank account?
Besides the standard company documents, banks may evaluate your business model, expected transaction volume, and may request financial projections or references.
What Final Consideration Should You Reflect On Before Opening a Business Account in Peru?
Is your company truly ready to meet the local expectations and banking procedures in Peru? After working with multiple foreign businesses, I’ve learned that success often starts with understanding not just the paperwork, but the context and relationships behind it.
You can contact me (Luis Fuentes) and Estudio Fuentes if you want to speak with an expert on this topic.
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