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Get to Know About Peru
Peru is a country in western South America, neighboring Ecuador and Colombia in the north, Brazil in the east, Bolivia in the southeast, and Chile in the south. It covers a land area of 1,285,216 square kilometers with a population of 33,105,273 Peruvian. The capital is Lima, which is also the largest city, and Spanish is the official language. Roman Catholicism has been the predominant religion for centuries, and Sol (PEN) is the national currency. There are three climate zones present in the country: a coastal desert strip (la Costa), the Andean zone (la Sierra), and the Amazonian forest (la Selva).
Peru’s Gross Domestic Product (GDP) is worth 222.24 billion US dollars, and the GDP per capita is roughly $6,453.92. The Corporate Tax Rate increases from 28 to 29.50 percent, which is still suitable for companies since its citizens are earning a good amount of money.
Doing business in Peru seems easier than the other well-developed countries. According to the latest annual ratings of World Bank, the country is ranked 68 among 190 economies in the ease of doing business index. Visitors and foreign nationals must obtain a visa upon entry unless they come from one of the visa-exempt countries like Hong Kong, the Philippines, South Korea, and members of the European Union.
Aside from the longer time for approval of business incorporation process, there are some challenges that visitors will encounter like environmental issues (water pollution, soil erosion, pollution, and deforestation). Though those problems are also common to other countries, Peru has been developing regulations and laws to decrease the amount of pollution created in major cities as well as making policies to aware the responsible bodies.