How to obtain an Investor Visa in Peru as a Foreign Entrepreneur?
The Peruvian president, Francisco Sagasti Hochhausler, highlighted Peru's important progress in business, the product of notable economic growth, reflected in stability, the consolidation of infrastructure, low inflation, and the low level of indebtedness that exists.
By creating a sound financial system and succeeding in reducing poverty, the middle class with purchasing power increases, thus also increasing public and private investments. One of its advances is demonstrated in the increase of its infrastructure in shopping centers.
One of the booming businesses is the gastronomic one, within which the consumption of the traditional national drink stands out.
The second successful business is tourism. To this is added the human talent of the people, always seeking to improve professionally to contribute to the development of the country in the different areas of production.
Another large-scale business is computer repair, in this way, in Lima, the inhabitants find in the city's computer services space for reliable, safe, and guaranteed repair and maintenance, with technical personnel with knowledge and technological skills, this business is very profitable.
In Lima, coffee shops have also been very successful as a business, which are a great alternative and are in the Top 15 of the most profitable businesses in Lima-Peru, especially for foreigners who visit the city. They are a relatively easy business to open and do not require a lot of investment, many of these spaces are creative and innovative.
Evidence of the benefits of the economic framework, it is necessary to mention the legal framework that is very favorable for foreign investment.
In particular, the non-discriminatory treatment is notable, since the foreign investor receives the same treatment as the national investor.
Added to this is the unrestricted access to most economic sectors, the free movement of capital, free competition, the guarantee of private property, the freedom to acquire shares of nationals, the freedom to access internal and external credit, access to international dispute resolution mechanisms.
Also within the regulatory framework, there are:
• The Legal Stability Agreement, where the investor is guaranteed the stability of the regulations related to non-discriminatory treatment, the stability of the Income Tax regime, the stability of the right to use the most favorable exchange rate available in the market. , and the stability of the regime of free availability of foreign currency and the right to the free remittance of profits, dividends, and royalties.
• The Early Recovery of VAT, which grants the refund of the Value Added Tax during the entire pre-production stage of the project (minimum duration of 2 years) and applies to all sectors of economic activity. The only requirement is that the minimum investment is US $ 5 million, except in agricultural activity where it is not required.
Being one of the most strategic Latin American countries when deciding to invest, Peru also offers the so-called Investor Visa, which will allow obtaining permanent residence.
The condition for obtaining this visa is the capital investment of 30,000 dollars in a company registered in Peru, through a bank transfer of a single sum that will be made from a bank account in the name of the applicant for the investor visa.
Additionally, a business plan must be submitted to the company and certified as viable by a local certified economist. Finally, the investor must commit to employing a minimum of (5) local personnel during the first year of activity.
An investment visa is valid for one (1) year and renewable if it is shown that the commitments have been fulfilled during this first year.
A foreign person with an investment visa does not have the right to work in Peru, but to reside in the country as a commercial investor. This person must be present in Peru at least (183) days a year, although the immigration office may grant special permission for overtime outside the country under certain circumstances.
Under the existence of the multiple components that make up a visa application process, such as legal requirements, costs, and the dates in which it must be carried out, it is recommended to be advised by an experienced immigration lawyer who knows and has long experience in everything that involves the procedure.
At Creimerman Law we offer assistance adapted to the personal needs of those who seek to increase their income through foreign investment, offering legal, immigration, financial, and administrative services, carrying out a control process to optimize time and money.