How to Open a Bank Account in Peru ?

In Peru,  just like in any foreign country, it can be frustrating trying to open a bank account. Opening corporate and private bank accounts can take a lot of time, which in many cases will end up costing you money. However, it is an essential step when starting a business in Peru. In fact, without that bank account, you will not be issued a business license. It is therefore important to know when and where to start, Bizlatinhub offers an analysis.

Bank Account Peru – Current Account Vs Savings Account

Considering the most common types of accounts, we must specify that the current account is one that is generated through the signing of a banking contract, whereby a financial institution is obliged to comply with its client’s payment orders up to the amount of money that the latter has deposited in it, or, if applicable, the amount of the credit that has been granted. The savings account is an ordinary deposit, in which the funds deposited have immediate availability and generate profitability or interest for a certain period and according to the amount saved. As a result of the signing of contracts for the opening of current accounts or savings accounts with banks, the additional benefits they provide such as access to credit, cards, etc. can be made available.

On the other hand, natural and juridical persons (the latter including the different types of companies such as SAA and Cerrada (SAC), Individual Limited Liability Company (EIRL), Civil Associations, etc.) may apply for both accounts and can do so in both domestic and foreign currency. Regarding the opening of accounts in foreign currency, dollar accounts are generalized, however, opening accounts in other currencies, will depend only on the financial institution.

Requirements for the Opening of a Bank Account in Peru

It is necessary to follow guidelines in order to guarantee the success of opening a bank account. There are various requirements which change between savings and current accounts. These requirements also change depending on the type of entity opening the account. In the table below you will find the requirements for the main types of bank accounts which can be opened in Peru.



Both can open current accounts yet these can be turned down if they have a bad credit rating

(National Identity of Foreigner’s Identity Card called Carné de Extranjera)

Documentation which proves the existence of the company and it’s recognition by the Public Register and the National Superintendency of Taxation Administration (SUNAT)
Verified home address An approved Legal Representative.
Energy or water bills. Legal Rep official documentation. (DNI or Foreigner’s Identity card)

Can Foreigners open Bank Accounts in Peru?

It is important to note that foreigners who are in Peru as tourists and who have not obtained a foreigners card (Carné de Extranjería) will be unable to open a bank account, regardless of what bank they choose or what type of account they are opening. This makes sense due to it ensuring that people on tourist visas have limitations when it comes to working and setting up a business in Peru. In turn, it ensures that foreigners follow the Peruvian legal system and pay their taxes.

With experienced teams of lawyers and accountants, we offer a range of back-office services including company formation as well as setting up bank accounts in Peru. If you want to learn more about investing and doing business in Latin America, contact us nowor visit our website at to find out how Biz Latin Hub can help you.

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