Peru

Powerful mudslides in January of 2010 left more than 2500 tourists stranded in Aguas Calientes, the last village before reaching Machu Picchu. The event made international headlines and Peru’s crown jewel for tourism closed for several weeks while reconstruction efforts were carried out. However, these huaycos, as the mudslides are called...

The prime office market is a segment to watch. Even after adding six new buildings with more than 51,000 sq metres to Lima in 2012, the initial vacancy rate for prime office space dropped to 2.2% in 3Q 2013, down from 2.4% in 3Q 2012. Such high demand has limited market options for leading companies doing business in Peru, but it is also laying...

Fishermen in Peru are facing choppy waters as supplies of anchovy, the industry’s prime catalyst, have fallen to one of the lowest levels in the last 20 years. In 2012 more than $2bn in export revenues – 66% of the sector total – was generated by anchovy-based fishmeal, oil and omega-3 supplements, commanding high prices on the international...

In the past decade, Peru’s mobile sector has been dominated by two players: Telefónica under its brand Movistar and America Movil under the Claro brand. Healthy competition exists between the two, while Nextel, which was recently acquired by Chile’s ENTEL in a 100% share transfer from US firm NII Holdings for $410.6m, occupies a small but...

Like many Andean nations, Peru has a history of limited access to health care. However, the country has made vast strides recently, nearly doubling the percentage of insured citizens over the past decade. While policies tend to focus heavily on establishing universal coverage and providing service for more vulnerable groups, authorities have...

CORPORATE INCOME TAX: Companies incorporated in Peru are considered domiciled entities for income tax purposes and, therefore, subject to income tax at a rate of 30% on net taxable income determined on a worldwide basis. Branches, agencies and permanent establishments incorporated in Peru of non-...