International Trade in Peru: Legal Procedures and Guidance

With Support from Cosmos Legal

Peru has emerged as a strategic hub for international trade in Latin America, thanks to its free trade agreements, stable economic policies, and access to key markets. Conducting international trade in Peru requires understanding import/export regulations, customs procedures, and compliance with local and international law. Cosmos Legal, experienced in cross-border commercial law, provides expert guidance for companies navigating Peru’s trade landscape.

1. Legal Framework for International Trade in Peru

International trade in Peru is governed by:

• Peruvian Customs Law (Aduanas)

• Ministry of Foreign Trade and Tourism (MINCETUR) regulations

• Free Trade Agreements (FTAs) with countries such as the US, China, and EU nations

• Tax laws administered by SUNAT (National Superintendence of Customs and Tax Administration)

Cosmos Legal advises businesses on compliance with all legal and regulatory requirements, minimizing the risk of delays or penalties.

2. Import Procedures

Key steps for importing goods into Peru include:

1. Register with SUNAT and Obtain RUC:
   Businesses must have a taxpayer registration number (RUC) to legally import.

2. Customs Classification and Valuation:
   Goods must be classified according to the Harmonized System and valued correctly for duties.

3. Licensing and Permits:
   Certain products, such as food, pharmaceuticals, or chemicals, require additional permits.

4. Payment of Duties and Taxes:
   Importers must pay VAT (IGV), customs duties, and other applicable fees.

5. Customs Clearance:
   Submit required documents to customs authorities for approval and release of goods.

Cosmos Legal supports clients in ensuring that all import procedures are followed correctly, including documentation, licensing, and tax compliance.

3. Export Procedures

Exporting goods from Peru involves:

• Obtaining export registration with MINCETUR

• Preparing commercial invoices, packing lists, and certificates of origin

• Complying with international trade regulations and any destination country requirements

• Coordinating shipping and logistics with authorized carriers

Cosmos Legal helps exporters navigate regulatory and legal requirements to ensure smooth cross-border operations.

4. Key Considerations for International Trade

• Trade Agreements: Peru’s FTAs reduce tariffs and facilitate market access for compliant businesses

• Taxes: Proper declaration of imports/exports is critical to avoid penalties from SUNAT

• Intellectual Property: Ensure trademarks, patents, and branding comply with Peruvian and international law

• Dispute Resolution: Cross-border contracts should include legal clauses covering arbitration or litigation

5. Benefits of Professional Legal Support

• Ensure compliance with all Peruvian and international trade laws

• Streamline import/export procedures and customs clearance

• Avoid fines, penalties, or delays due to regulatory non-compliance

• Provide strategic advice for trade agreements, taxation, and dispute resolution

Conclusion

International trade in Peru offers significant opportunities but requires careful attention to legal and regulatory compliance. With expertise in import/export law, customs procedures, and international agreements, Cosmos Legal provides comprehensive support for companies entering or expanding in the Peruvian market, ensuring smooth, lawful, and profitable trading operations.