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Doing business worldwide

Blog about doing business internationally.

In Latin America, Peru is one of the nations with the highest levels of competition in the travel and tourism industry. Peru has already been recognized as one of the most distinctive travel destinations in the world thanks to its historical landmarks, natural scenery, history, originality, delectable food, and expanding hospitality industry.

Tourism organizations and the corporate sector are stepping up marketing efforts and enhancing the nation’s tourism products and commercial programs to speed up development over the next years. Moreover, significant infrastructure improvements are allowing both local and foreign visitors access to new areas of the nation.

The Peruvian economy and tourism 

One of the fastest-growing nations in the world, Peru has a phenomenal yearly growth rate of 5.9 % on average while maintaining a low inflationary pressure of 2.9 percent. Peru’s economy accelerated in the year 2016.

Peru’s economy is anticipated to grow at one of the quickest rates in South America in the coming years, thanks to a foundational economic structure that encourages capital investment and corporate ventures. Peru is leading South America’s economic growth, according to the World Bank Group. 

Start a tourism company in Peru 

We have compiled some useful information for you to ease the entire procedure of corporate setup and marketing. 

Create a business plan 

You must have a clear vision for the company’s future and a grasp of its direction before you can set up the corporation. A thoroughly written trade plan can also assist you to attract creditors and lenders. 

Examine your surroundings 

The key to launching a tourism market business is to do extensive research and study the area. Find out as much as you can about the area and amass enough information. You must study regional cuisine, culture, etc.

Do market research 

Before you begin working as a tour organizer, it is crucial to comprehend your rivals. Conduct thorough market research and collect data on the tour programs, methods, costs, etc., offered by other regional tourism businesses.

Decide on your market 

There are various types of travelers, each with its perspective. Adventure-loving travelers, photographers, environmentalists, people interested in learning about the local culture, etc. are just a few examples. Set your package deals based on who your clients are.

Name your business 

Recently, the Peruvian business environment has drawn eager entrepreneurs from throughout the world. Find an eligible brand name in the Registration of Legal Organizations and reserve it as a preliminary step. You only require a current ID or passport to do this. The projected costs for this procedure are 22 New Peruvian Soles or roughly $6 US.

Register your company at SUNARP

It’s time to incorporate your business once you’ve chosen a name for it. For registration, the entrepreneur, employees, and investors must all sign the registration document in a notary’s presence. A rough estimate of the price is S/. 400. 

You will require the Act of Organization, as well as the legal agents’ current ID cards or passports. Your documents will be prepared for registration by public notaries in Peru. Within 35 working days, SUNARP will start the process of verifying and validating your company’s incorporation. SUNARP will get in touch with you via your notary if there are any irregularities, such as lacking or poorly filled-out papers. 

Open a business bank account 

Create a corporate bank account after the business is registered. Accepting and paying for your company transactions is a requirement. Please keep in mind that banking institutions in Peru need a minimum deposit of S/.1000 to establish a bank account.

Additionally, the majority of Peruvian banks forbid foreigners from opening bank accounts. Although obtaining a foreign residency card is an option. 

Promote your company 

To succeed, you must actively market your company both online and offline. Make detailed informational business cards and brochures. Make business arrangements with the hotels, resorts, and travel agencies in your area.