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About Business Environment of Peru

Doing Business In Peru

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Below are select highlights for the data included in the profile.

 

  1. Peru is ranked 43rd out of the 185 economies in Doing Business 2013, with no change in overall rank from last year.
  2. According to the latest Enterprise Surveys (2010), the top 3 obstacles to firm investment in Peru include Practices of the Informal Sector, an Inadequately Educated Workforce, and Crime, Theft, and Disorder. 68.6% of firms report competing against unregistered or informal firms, compared to a regional average of 62.3%.
  3. In the World Bank’s Worldwide Governance Indicators (2010), Peru is just above the 20th percentile for the Political Stability indicator. For Government Effectiveness, Peru is just below the 50th percentile. For Regulatory Quality, Peru is between the 60th and 70th percentiles.
  4. Peru’s economic freedom score is 68.7, making its economy the 42nd freest in the 2012 Index. Its score is virtually unchanged from last year, with improvements in monetary freedom and labor freedom largely offset by a decline in freedom from corruption. Peru is ranked 6th out of 29 countries in the South and Central America/Caribbean region, and its overall score is above the world and regional averages.

Source: World Bank

 

Visa Information

 
With a few exceptions, visas are not required for travelers entering Peru. Tourists are permitted a 30- to 90-day stay, stamped into passports and onto a tourist card called a Tarjeta Andina de Migración (Andean Immigration Card). Keep it – it must be returned upon exiting the country. The length of stay is determined by the immigration officer at the point of entry.
If you lose your tourist card, visit an oficina de migraciónes (immigration office; www.digemin.gob.pe)for a replacement. Extensions can be obtained at immigration offices in Lima, Arequipa, Cuzco, Iquitos, Puerto Maldonado, Puno and Trujillo, as well as near the Chilean and Ecuadorian borders. Forms and information in English can be found online. For extensions, click on Foreigners and Extension of Stay. Cost is S12.25 for a right of paperwork and an additional US$20 for the 30-day extension. Two extensions are allowed per year.
 
Anyone who plans to work, attend school or reside in Peru for any length of time must obtain a visa in advance. Do this through the Peruvian embassy or consulate in your home country.
 
Carry your passport and tourist card on your person at all times, especially in remote areas (it’s required by law on the Inca Trail). For security, make a photocopy of both documents and keep them in a separate place from the originals.

Business Etiquette

General Business Hours

Hours are variable and liable to change. Be patient, as services can be slow. Some places may have posted hours and not adhere to them. Forget about getting anything done on a Sunday, when nearly everything is closed. A few 24-hour supermarkets have opened in Lima and other major cities. Taxi drivers often know where the late-night stores are.
 
Many shops and offices close for a lunch break (usually from 1pm until around 4pm), but some banks and post offices stay open. Typically, opening hours are as follows:
 
Banks 9am-6pm Mon-Fri, some open 9am-1pm Sat
Bars and clubs 5:30pm-midnight, some till 2am
Restaurants 10am-10pm, some closed 3-6pm
Shops 9am-6pm Mon-Fri, some open 9am-6pm Sat