Doing Business with Peru

A comprehensive guide to doing business, exporting, investing, and manufacturing in Peru.

Foreign Direct Investment with the International Trade Council / Company Incorporation / Company Formation

Albanian Investment Development Agency

Tel: +355 42 251 001
Email: info@aida.gov.al
Web: www.aida.gov.al

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General Directorate of Customs

Albania General Directorate of Customs - International Trade Council

 

Tel: +355 42 253 820
Email: helpdesk.dpd@dogana.gov.al
Web: www.dogana.gov.al

National Chamber of Commerce

Albanian Chamber of Commerce and Industry

Albanian Chamber of Commerce and Industry - International Trade Council

Tel: +355 45 800 932
Email: cci.tirana@cci.al
Web: www.cci.al

Ministry of Economy Information from the International Trade Council - a Peak-body - international chamber of commerce

Ministry of Finance and Economy, Albania

  • Type of Government: Presidential Republic
  • Population: Approximately 34 million
  • GDP: Around $280 billion USD
  • Corporate Tax Rate: 29.5%
  • Personal Income Tax Rate: 8% to 30%
  • Major Exports: Copper, gold, zinc, textiles, fishmeal
  • Major Imports: Machinery, vehicles, electronics, plastics, chemicals

 

Exporting goods to Peru involves several key steps. Here’s a comprehensive guide:

  1. Research Market Requirements

    • Understand Peru’s import regulations and product standards.
  2. Identify Your Product’s HS Code

    • Determine the Harmonized System (HS) code to understand tariffs and regulations.
  3. Prepare Documentation

    • Gather necessary export documents: commercial invoice, packing list, certificate of origin, and bill of lading.
  4. Check Tariff and Non-Tariff Barriers

    • Verify any tariffs and ensure compliance with Peru’s non-tariff measures.
  5. Select a Reliable Freight Forwarder

    • Choose a logistics provider experienced in shipping to Peru.
  6. Comply with Labeling and Packaging Regulations

    • Ensure your products meet local labeling and packaging standards.
  7. Arrange for Insurance

    • Secure insurance to cover potential shipping risks.
  8. Submit Customs Declaration

    • Work with your freight forwarder to submit the necessary customs declaration.
  9. Pay Applicable Duties and Taxes

    • Calculate and pay any required import duties and taxes.
  10. Track and Confirm Delivery

    • Monitor the shipment to ensure it reaches the destination safely.

Key Contacts

  • SUNAT (Superintendencia Nacional de Aduanas y de Administración Tributaria)

Importing goods into Peru involves several key steps. Here’s a detailed guide:

  1. Research Import Regulations

    • Familiarize yourself with Peru’s import laws and product-specific regulations.
  2. Obtain Necessary Licenses

    • Determine if your products require special import licenses or permits.
  3. Classify Your Goods

    • Identify the Harmonized System (HS) code for your products to understand tariffs and duties.
  4. Prepare Documentation

    • Gather required documents: commercial invoice, bill of lading, packing list, and certificate of origin.
  5. Choose a Customs Broker

    • Hire a licensed customs broker to assist with the import process.
  6. Comply with Labeling and Packaging Standards

    • Ensure products meet local labeling and packaging requirements.
  7. Submit Customs Declaration

    • File a customs declaration with SUNAT (Superintendencia Nacional de Aduanas y de Administración Tributaria).
  8. Pay Duties and Taxes

    • Calculate and pay any applicable import duties and taxes.
  9. Arrange for Transportation and Delivery

    • Coordinate with a logistics provider to transport goods to their final destination.
  10. Track and Confirm Receipt

    • Monitor shipment progress and confirm delivery upon arrival.

Key Contacts

  • SUNAT (Superintendencia Nacional de Aduanas y de Administración Tributaria)

Incorporating a company in Peru involves several key steps. Here’s a detailed guide:

  1. Choose a Business Structure

    • Decide on the type of company, such as a Sociedad Anónima (SA) or Sociedad de Responsabilidad Limitada (SRL).
  2. Reserve a Company Name

    • Ensure the name is unique and reserve it with the National Public Registry.
  3. Draft the Articles of Incorporation

    • Prepare the company’s articles of incorporation with details on directors and shareholders.
  4. Notarize Documents

    • Have the incorporation documents notarized by a public notary.
  5. Open a Bank Account

    • Open a corporate bank account and deposit the initial capital.
  6. Register with the Public Registry

    • Submit the notarized documents to the National Public Registry.
  7. Obtain a Tax Identification Number (RUC)

    • Register with the SUNAT for tax purposes.
  8. Register for Social Security

    • Register with EsSalud for employee social security.

Costs

  • Name Reservation Fee: Approximately $20 USD
  • Notarization and Legal Fees: Varies, generally around $500 – $1,000 USD
  • Registration Fee: Varies based on capital

Key Contacts

  • SUNAT (Superintendencia Nacional de Aduanas y de Administración Tributaria)
  • National Public Registry

Setting up a manufacturing plant in Peru involves several key steps. Here’s a detailed guide:

Step-by-Step Guide

  1. Conduct a Feasibility Study

    • Analyze market demand, location, and resource availability.
  2. Choose a Business Structure

    • Decide on the type of business entity, such as a Limited Liability Company (SRL) or Corporation (SA).
  3. Register the Company

    • Register your company with the National Public Registry.
  4. Secure Financing

    • Arrange funding through loans or investors.
  5. Select a Location

    • Choose an industrial area with access to infrastructure and resources.
  6. Obtain Necessary Permits and Licenses

    • Apply for construction permits, environmental approvals, and industry-specific licenses.
  7. Design and Construct the Facility

    • Hire architects and contractors to design and build the plant.
  8. Purchase and Install Equipment

    • Acquire machinery and ensure it meets safety and operational standards.
  9. Hire and Train Employees

    • Recruit skilled workers and provide necessary training.
  10. Set Up Supply Chain and Distribution

    • Establish relationships with suppliers and distributors.

Key Contacts

Registering a trademark in Peru involves several steps. Here’s a detailed guide:

  1. Conduct a Trademark Search

    • Ensure your trademark is unique by searching existing trademarks in Peru.
  2. Prepare Your Application

    • Gather necessary details, including the trademark design and the list of goods/services it will cover.
  3. Submit the Application

    • File your application with the National Institute for the Defense of Competition and Protection of Intellectual Property (INDECOPI).
  4. Examination Process

    • The application will be examined for compliance and potential conflicts with existing trademarks.
  5. Publication for Opposition

    • If approved, the trademark is published for a period during which others can oppose it.
  6. Receive Registration Certificate

    • If no oppositions are filed, you receive the official trademark registration certificate.

Costs

  • Application Fee: Approximately $150 USD

Key Contacts

  • INDECOPI (National Institute for the Defense of Competition and Protection of Intellectual Property)

Resolving commercial disputes in Peru involves several key steps. Here’s a detailed guide:

  1. Consult Legal Counsel

    • Engage a lawyer experienced in Peruvian commercial law for guidance.
  2. Attempt Negotiation

    • Try to resolve the dispute amicably through direct negotiation with the other party.
  3. Mediation

    • Consider mediation with a neutral third party to facilitate a resolution.
  4. Arbitration

    • Use arbitration for a binding resolution if both parties agree. Peru supports arbitration as an alternative dispute resolution method.
  5. Litigation

    • If other methods fail, file a lawsuit in the relevant Peruvian court. Prepare for a formal legal process.
  6. Enforcement of Judgments

    • Ensure the decision is enforced through relevant authorities.

Costs

  • Legal Fees: Vary depending on the complexity and length of the dispute.
  • Court Fees: Required for litigation and depend on the case specifics.

Key Contacts

When considering business in Peru, it’s important to understand various factors:

Social and Cultural Factors

  • Language: Spanish is the official language; familiarity is crucial for business.
  • Business Etiquette: Building personal relationships is important; meetings often begin with informal conversation.

Political Factors

  • Government: Presidential Republic.
  • Stability: Generally stable, but it’s important to stay informed about political changes.

Economic Factors

  • Currency: Peruvian Sol (PEN).
  • Investment Opportunities: Key sectors include mining, agriculture, and manufacturing.

Foreign Exchange

  • Exchange Rate: The Sol can fluctuate; monitoring currency markets is advisable.
  • Regulations: Some exchange controls exist; consult local financial experts.

Rule of Law

  • Legal System: Based on civil law; provides a framework for business operations.
  • Intellectual Property: Protections align with international standards.

Infrastructure

  • Transport: Developing infrastructure; road and port transport are key.
  • Utilities: Generally reliable, but plan for contingencies.

Key Contacts

  • Ministry of Foreign Trade and Tourism
  • Central Reserve Bank of Peru

Our Members Include Leading Organizations in Peru

Ask our Experts on Doing Business in/with Peru

If you’re looking to do business or invest in Peru, we can provide expert guidance, market insights, and valuable connections to help you navigate the local landscape. Contact us today to discover how we can assist in making your venture a success.