Peru family business sale
Selling a family-owned business with operations, assets, or ownership ties to Peru raises legal questions on both sides of the border. A seller based in the United States must address US tax and securities considerations, while the Peru-law aspects of the transaction — corporate formalities, transfer of shares or assets, labor obligations, and regulatory filings — are governed by Peru’s civil law system under the Peruvian Civil Code of 1984. Law Offices of SRIS, P.C. is a US law firm founded in 1997 that serves clients in cross-border business transactions. The firm handles the US-law side of a Peru family business sale and collaborates with Peru-admitted Of Counsel on the Peru-law side, so that each dimension of the transaction is addressed by an attorney licensed in the relevant jurisdiction. For a consultation on a Peru family business sale, reach Law Offices of SRIS, P.C. at (888) 437-7747.
What a Cross-Border Peru Business Sale Involves
A family business sale with a Peru nexus typically requires parallel legal workstreams in the United States and Peru, each governed by its own body of law. On the US side, the seller’s legal needs may include federal tax analysis of the gain on sale, review of any applicable Securities and Exchange Commission filing obligations if the transaction involves US investors or securities, and structuring the deal to address US withholding and reporting requirements under the Internal Revenue Code. If the business holds US real property, the Foreign Investment in Real Property Tax Act (FIRPTA) may impose additional withholding obligations on the buyer. Each of these US-law elements must be coordinated with the Peru-law workstream to avoid gaps or inconsistencies between the two legal frameworks.
On the Peru side, the sale of a family business is governed by Peru’s civil law system. The transaction structure — whether a share sale, an asset sale, or a merger — determines which Peru corporate, tax, and labor regulations apply. Peru-law due diligence typically covers corporate books and records, real property registrations, employment contracts and severance obligations, tax filings with the Superintendencia Nacional de Aduanas y de Administración Tributaria (SUNAT), and any regulatory permits specific to the business sector. Because Peru is a civil law jurisdiction, the documentation and formalities differ materially from those in a US common law transaction. The firm’s Peru-admitted Of Counsel handles these Peru-law elements, while the US-admitted attorneys at Law Offices of SRIS, P.C. handle the US-law side.
How Mr. Sris and His Of Counsel Network Handle a Peru Business Sale
Law Offices of SRIS, P.C. approaches a Peru family business sale by dividing the legal work along jurisdictional lines, with each side handled by an attorney admitted in the relevant jurisdiction. Mr. Sris, the firm’s founder and managing attorney, is admitted to practice in Virginia, Maryland, the District of Columbia, New Jersey, and New York. He and the firm’s US-admitted Of Counsel address the US-law components: tax structuring, securities compliance, contract drafting under US law, and coordination with US regulatory agencies where applicable. For the Peru-law components, the firm collaborates with Martín Mayandía, Of Counsel for Peru matters. Mr. Mayandía is admitted to practice law in Peru (2009) and is not admitted in any US state bar. His role is limited to Peru-law matters in collaboration with the US-admitted attorneys of the firm.
This jurisdictional division is not merely a matter of efficiency — it is required by the professional conduct rules that govern each attorney’s license. A US-admitted attorney cannot render legal advice on Peru law, and a Peru-admitted attorney cannot render legal advice on US law. By maintaining this separation, the firm ensures that every aspect of the transaction receives counsel from an attorney licensed in the applicable jurisdiction. The two sides coordinate on transaction structure, timing, and document consistency, but each attorney’s work remains within the bounds of their respective licensure. Clients receive integrated counsel without any single attorney crossing the jurisdictional line.
About Mr. Sris and the firm’s Of Counsel Network
Mr. Sris, Owner and Founder of Law Offices of SRIS, P.C., has practiced since 1997 and is admitted in Virginia, Maryland, the District of Columbia, New Jersey, and New York. He is a former prosecutor who testified before the Virginia House Courts of Justice Committee in support of 2019 HB 635 (chief patron Del. David Bulova), the bill that became the 2019 revision to Va. Code § 20-107.3(g). Mr. Sris leads the firm’s US-law practice and serves as the responsible US attorney for the firm’s cross-border matters. For a Peru family business sale, he handles the US-law workstream and coordinates with the firm’s Peru-admitted Of Counsel.
The firm’s Peru-law capability is provided through Martín Mayandía, Of Counsel for Peru matters. Mr. Mayandía is admitted to practice law in Peru (2009) and is not admitted in any US state bar. His practice with Law Offices of SRIS, P.C. is limited to matters of Peru law and to serving as a liaison for international clients with the US-admitted attorneys of the firm. Mr. Mayandía brings experience in Peru corporate and commercial law to the firm’s cross-border business transactions. Together, Mr. Sris and his Of Counsel bring extensive combined legal experience to cross-border business sales involving Peru.
Frequently Asked Questions
What does selling a family business in Peru involve from a US legal perspective?
A US seller of a Peru-connected family business must address US federal tax obligations, securities compliance, and cross-border contract structuring under US law. The gain on the sale is generally subject to US federal income tax, and the seller may need to consider the application of the Internal Revenue Code provisions on capital gains, installment sales, and foreign tax credits. If the transaction involves US investors or securities, SEC filing or exemption analysis may be required. The purchase agreement and related documents should be drafted to account for the differences between US common law contract principles and Peru’s civil law framework. An attorney admitted in the relevant US jurisdiction can advise on these US-law elements.
Do I need both a US attorney and a Peru attorney for the sale?
Yes — a cross-border business sale involving Peru typically requires both US-admitted counsel and Peru-admitted counsel because each jurisdiction’s law governs distinct aspects of the transaction. A US-admitted attorney handles US tax, securities, and contract law matters. A Peru-admitted attorney handles Peru corporate formalities, transfer documentation, labor law compliance, and filings with Peru regulatory authorities. No single attorney can ethically render legal advice on the laws of a jurisdiction where they are not admitted. Law Offices of SRIS, P.C. provides both through Mr. Sris and the firm’s US-admitted Of Counsel on the US side, and through Martín Mayandía, the firm’s Peru-admitted Of Counsel, on the Peru side.
How does the firm divide the work between US and Peru counsel?
The firm maintains a strict jurisdictional separation: US-admitted attorneys handle all US-law matters, and the Peru-admitted Of Counsel handles all Peru-law matters. Mr. Sris and the firm’s US-admitted Of Counsel address the US-side workstream — tax analysis, securities review, and US-law contract drafting. Martín Mayandía, who is admitted to practice law in Peru (2009) and is not admitted in any US state bar, handles the Peru-law workstream — corporate due diligence, transfer documentation under Peru law, labor compliance, and regulatory filings in Peru. The two sides coordinate on structure and timing to produce an integrated transaction, but each attorney’s work remains within the bounds of their respective licensure.
What should I bring to an initial consultation about a Peru business sale?
Bring the basic corporate documents of the business, a summary of the ownership structure, and any existing agreements that may affect the sale. For the US-law analysis, relevant documents include the seller’s tax returns for recent years, any existing shareholder or operating agreements governed by US law, and correspondence with US regulatory agencies. For the Peru-law analysis, relevant documents include the business’s Peru corporate registration, share ledgers, real property records, employment contracts governed by Peru law, and tax filings with SUNAT. The firm can provide a more detailed checklist based on the specific facts of the transaction during the consultation. Contact Law Offices of SRIS, P.C. at (888) 437-7747 to schedule a consultation.
How do I reach the firm about a Peru family business sale?
Call Law Offices of SRIS, P.C. at (888) 437-7747 to discuss a Peru family business sale with Mr. Sris and the firm’s cross-border practice. The firm’s US locations in Virginia, Maryland, the District of Columbia, New Jersey, and New York are available by appointment only. Consultations can be arranged by phone or video conference for clients who are not located near a firm location. The firm’s Peru-admitted Of Counsel, Martín Mayandía, is available to address Peru-law questions in collaboration with the US-admitted attorneys. All US-law aspects of the transaction are handled by Mr. Sris and the US-admitted attorneys of the firm.