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Financial Institution Compliance Officer Role in Peru: Understanding Regulatory Requirements for Success

As a financial institution operating in Peru, compliance with regulatory requirements is crucial to maintain good standing and avoid legal inconveniences. In this article, we will explore the key responsibilities and dates of financial regulatory compliance in Peru, as well as common FAQs and how Biz Latin Hub can assist with these requirements.

Why Peru?

Peru has become an attractive destination for foreign investors, with high levels of foreign direct investment (FDI) and a growing economy. The country is rich in natural resources, including gold, copper, and agricultural products, making it an attractive market for businesses looking to expand their operations.

Compliance Requirements

To take advantage of this growth, financial institutions must comply with regulatory requirements, which include:

  • Submitting annual tax declarations
  • Holding annual shareholders meetings
  • Updating corporate books

Failure to comply can result in legal consequences, including fines and even suspension of operations.

Specific Appointments and Deadlines

In addition to these general requirements, there are specific appointments and deadlines that financial institutions must adhere to:

  • February 28th: Appoint a tax auditor
  • March 31st: Hold a general shareholders meeting within three months of the close of the fiscal year
  • Appointing a legal representative: who is personally liable for the company’s good operation and standing
  • Registering a local fiscal address or registered office address

How Biz Latin Hub Can Help

At Biz Latin Hub, we have extensive experience in financial regulatory compliance in Peru and can provide tailored packages of integrated back-office services to suit every need. Our comprehensive portfolio includes:

  • Company formation
  • Accounting & taxation
  • Legal services
  • Visa processing
  • Hiring & PEO

If you are considering expanding your operations into Peru or require assistance with regulatory compliance, contact us today to learn more about how we can help.