For one or more individuals to start a company, certain permits and licenses are required. We understand that not all industries and professions are governed by the same rules. Our lawyers have a long history of helping companies and persons in highly regulated to corporations permitted and licensed by central government and regions. We regularly provide compliance counseling for clients facing new laws and regulations, and we proactively work with regulators and government affairs professionals on behalf of our clients.
Companies operating in certain industries must comply with specific laws applicable to that industry. This could also involve a requirement to obtain a licence or permit, or to make additional filings. Examples of these industries are: financial services, fisheries and forestry, food and drug, energy, health, mining, oil and gas, securities, telecommunications, travel and transportation. Certain activities may also require additional regulatory compliance, such as environmental laws. These industry-specific laws are in addition to the legislation that applies generally to all companies operating in Perú.
Since 1990, when the previous interventionist structure of the State was dismantled, a new regulatory system was structured, similar to the one that exists in the most modern market economies. Various regulatory bodies were created, such as the National Institute for the Defense of Competition and the Protection of Intellectual Property (Indecopi), whose fundamental role is to guarantee that the markets function adequately, ensuring the application of the rules of free competition and of repression of unfair competition and consumer protection, among others. There are also other regulatory agencies that act in specific sectors, such as the Supervisory Body for Private Investment in Telecommunications (Osiptel), the Supervisory Body for Investment in Energy (Osinerg) to supervise and oversee compliance with the legal and technical provisions of electricity and hydrocarbon activities, and standards; the Supervisory body for environment (Oefa) referring to the control and protection of the environment The Supervisory Agency for Investment in Public Use Transport Infrastructure (Ositran), in order to regulate the behavior of the markets where the companies that offer transport services for public use, as well as the fulfillment of concession contracts. Then we have the regulatory bodies of the financial system: the Superintendency of Banking and Insurance (SBS) and the National Supervisory Commission of Companies and Securities (Conasev), which already existed previously, but whose functions were restructured within new regulatory frameworks adapted to the needs of the modern world.