QuickStart: to Market Entry

Whether entering the market or simplifying operations, we can give you a QuickStart.

PERU tmf-group.com Whether entering Peru for the first time or What makes us different? simplifying existing operations, we can give TMF Group is the global expert that understands local needs. you a QuickStart.

KNOWLEDGE: Based in-country, TMF Group has local experts providing , compliance, corporate our independent experts secretarial and HR and payroll services across Peru. understand the local market We can get you set up, provide a single point of contact and take care of and all its associated legal, those non-core elements that keep your business moving, while you can financial and regulatory focus on what you do best: selling your products and services. compliance requirements. By taking the burden of the back office and centralising it through a single FLEXIBILITY: We can offer an provider, we work with you to increase efficiency and help strip out any individual and tailored service unnecessary costs. that is scalable in line with business needs. CONTROL: Through our worldwide QuickStart: to Market Entry Peru has five main elements: network of wholly-owned offices, we can offer global reporting and one single point of contact to businesses operating across multiple regions. We help sort and We can provide SPEED: Our local presence helps maintain your you an address for businesses to take an agile legal set-up and approach and enter new your business structure markets more quickly than their competition. RANGE: We are the only global organisation to offer a complete suite of complementary business solutions. We help keep you We handle your We help your compliant with accounting and staff get paid on local regulations tax requirements time according and filings to local rules

Corporate secretarial services: We manage the legal set-up of new operations and then help you stay compliant, manage your risk and stay on the right side of Peru regulators and filing requirements. Accounting and tax: We take care of tax registrations, bookkeeping, management reporting and statutory accounts. We report to the relevant authorities in Peru. HR and payroll: We help you to apply and implement your international policies in Peru employment contracts and handbooks and pay your staff on time in compliance with law. Legal entity incorporation: We manage the legal set-up and structuring of TMF Group serves clients new operations. of all sizes and from all sectors; everyone from a small start-up to a large multinational. We work with more than 40% of the current S&P 500 and Fortune 500. Thinking of doing business in Peru?

The challenges ... Special reports: As well as the tax return, each entity in Peru must report its transactions, pay the Financial Lack of local knowledge can result in: Transaction Tax and provide information to INEI (National Statistics Institute). These reports must be TAX PENALTIES prepared monthly and annually. LOST BUSINESS CRIMINAL AND CIVIL LITIGATION ... and the opportunities Starting a business: Companies can take up to two or three weeks, depending on company’s Increasing FDI: The foreign direct investment in Peru characteristics, on a legal entity incorporation. The first is now three times bigger than seven years ago and its step is to register the entity with the Superintendencia exports have tripled. According to the World Bank, Peru Nacional de Registros Publicos (SUNARP) and then is the 5th in the world and the 1st in Latin-America in with the Superintendencia Nacional de Aduanas y de investor protection law. Administración triburatia – (SUNA), the tax authority. Foreign rights: In Peru there is a regime to promote Declaring : A tax payment is an extremely foreign direct investment. All foreign investors have the complex procedure taking around 200 business hours. same rights as the local Peruvian companies. VAT and income tax must be filed monthly, and income Exemptions:The exemptions and the tax reductions tax must be filed annually as well. are offered to some economic sectors in the income Social security system: Peru has a social security tax (0% or 15%) and VAT (0%) or VAT refunds when system where its contribution is mandatory for medical exporting goods or services. attention; it is administrated by Seguro Social del Perú (Es Salud). Employers must contribute 9% of employees’ salary for medical attention and 13% to national or private pension system. Labour legislation: In 1997 the Productivity and Competitiveness law was issued to regulate the most basic principles of labour relationships, including employee terms, conditions and benefits. It applies to all employees working in Peru, including employees of foreign nationality. Meet our Director in Peru

Walter Gutsh is the North Latam Sub Regional Director. He has direct Our office in Peru responsibilities regarding operations in Ecuador and Peru and also coordinates activities in Colombia, Central America, Venezuela and Mexico, ensuring the TMF Peru S.R.L. development of the region. Av. Victor Andrés Belaúnde After almost 20 years working at KPMG , where he was partner in 147, Vía Principal 110, Edificio the BPO service line. In 2009, he was appointed as Country Managing Director Real Cinco, Oficina 901 for TMF Argentina and two years later, he was named as South Latam Sub Lima, Peru Regional Director. San Isidro, Lima 27, Perú Walter has a degree in Accounting from Buenos Aires University. He has wide experience in global business services with strong skills in human resources and payroll. During his wide professional path, he was responsible for the coordination and provision of services to multinational companies, either Av. Nicolas de Pierola 589 locally or in multiple jurisdictions. He is a proactive and results-oriented (8vo Piso A) professional with extensive experience in efficiently managing large portfolios. Cercado de Lima He also is a problem solver and in leading organisational changes. Lima, Peru

T. + 51 1 612 44 00 Get in touch with Walter to discuss how to grow your business in Peru. [email protected]

Whilst we have taken reasonable steps to provide accurate and up to date information in this publication, we do not give any warranties or representations, whether express or implied, in this respect. The information is subject to change without notice. The information contained in this publication is subject to changes in (tax) laws in different jurisdictions worldwide. None of the information contained in this publication constitutes an offer or solicitation for business, a recommendation with respect to our services, a recommendation to engage in any transaction or to engage us as a legal, tax, financial, investment or accounting advisor. No action should be taken on the basis of this information without first seeking independent professional advice. We shall not be liable for any loss or damage whatsoever arising as a result of your use of or reliance on the information contained herein. This is a publication of TMF Group B.V., P.O. Box 23393, 1100 DW , the (contact@ tmf-group.com). TMF Group B.V. is part of TMF Group, consisting of a number of companies worldwide. Any group company is not a registered agent of another group company. A full list of the names, addresses and details of the regulatory status of the companies are available on our website: www.tmf-group.com.

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