Doing Business in Peru

The Doing Business In Peru webinar, hosted by Jose Luis Sarrio, recently took place. As partner at TGS Sarrio & Asociados, and TGS member, he presented us the Peruvian context for doing business.

Did you know that over the past few years, Peru has maintained economic stability? Despite the pandemic, the country remains one of the most attractive markets for new investors.

What international agreements and foreign trade exist in Peru?

To facilitate exchanges with other countries, Peru is a signatory of many international agreements. And here are examples of agreements: Andean Community of Nations (CAN); Mercosur and free trade agreements with many countries. The country is also member of the Latin American Integration Association (ALADI).

What legal structure should I use for my business in Peru?

In terms of structure, there are 6 types of companies:
– Open Joint Stock Company
– public limited company
– Closed Public Limited Company
– Limited Liability Company
– Civil Company
– Limited Liability Partnership

What do employment contracts look like in Peru?

Employment contracts can be indefinite or fixed term, depending on the temporary nature of the business. Indefinite employment contracts can be written or verbal, whereas fixed-term contracts must necessarily be written.

What do I need to know before starting a business in Peru?

• An annual external audit by independent public accountants is mandatory in several cases.
• The IT Law distinguishes 3 groups of income: capital income; business income and labor income. The taxable income of each of the income groups is declared and assessed separately, and there is no compensation among them.
• Transfer Pricing rules apply to the following transactions made:
  • Between taxpayers and their related parties.
  • From, to or through non-cooperative countries or territories or with low or null taxation.
  • With parties subject to a preferential tax regime.

More information about doing business in Peru

TGS “Doing Business In” webinars are a good way to avoid common mistakes when setting up in a new country.

“Doing Business In” webinar is an opportunity to learn new things about a country that you do not necessarily know. As a result, to learn about the members of the network and their company.