Work visas in Peru

• According to Newland Chase there are two main types of work permits for Peru:
  • Temporary Visa for Assignees/(Business Visa): for assignees who are in Peru for up to 12 months while remaining on payroll and contract for their home country
    • This visa is for those Those looking to work in Peru for corporate, legal, contractual, or specialized technical assistance without gaining residency (source)
  • Residence Visa (Working Visa): For assignees to enter Peru as resident workers on local contract and payroll Valid for one year and renewed annually and the process can take two to four months (source)
    • Applicants must submit the contract from the hiring company in Peru. The contract must be approved by the Ministry of Work (source)
    • It is also required that this individual be present in Peru for at least (183) days in the year (source)

Setting up a Company in Peru

• A foreigner setting up a business in Peru usually does so under the investment visa but this can also be done with a business visa
• Tourist visa/business visa: a foreigner with a tourist visa must obtain a special permission to sign contracts before signing any documents unless they have a business visa
  • If a foreigner lives abroad it is possible to set up a company through power of attorney granted at the Peruvian Consulate, a notary of that person’s country or any other third party. The power of attorney must be registered with the Registros Publicos (Peruvian Public Register). In order to assume managerial function before the tax authority a foreigner must have a foreign resident card
• Investment Visa: This is a special visa for those who want to set up a company and stay in Peru (source)
  • The key requirement for obtaining this visa is the PEN500.000 (Peruvian Soles) capital investment into a Peruvian registered company
  • This investment must be a single-sum bank transfer to be made directly from a bank account in the name of the investor/visa applicant. In addition, a business plan must be presented for the company and certified as viable by a local Certified Economist. Finally, the investor/visa applicant must commit to employing a minimum of local staff within the first year of business. Quoted from: (source)
  • A foreigner with an investment visa does not have the right to work in Peru but only the right to reside in the country as a business owner

As a note, working contracts require that foreign employees may not be employed for more than three years (can be renewed) and that expat workers may only make up 20% of the employees in a Peruvian company. Finally total wages of these foreign workers in the company can’t surpass 30% of the employer’s total wages paid (source)

Sources
escapeartist, bizlatinhub, expat.com, Newland Chase