Product registration in Peru is crucial if you want to import, distribute, or commercialize a product in the country, as there are several regulations to comply with in order to maintain your company in good standing with local authorities.
Peru has experienced both political and economic stability in recent years, contributing to consistent growth in its gross domestic product (GDP), which reached $226.8 billion in 2019. The country is currently the sixth-largest economy in Latin America with one of the lowest inflation rates in the region. Peru has also enjoyed positive foreign direct investment (FDI) inflows, reaching $8.9 billion in 2019. The country has reached free trade agreements (FTAs) with countries in Asia, Europe, and North America. Since 2011, the country has been a member of the Pacific Alliance, a regional trade integration bloc that offers foreign companies privileged access to the markets of the other member countries.
If you are considering entering the Peruvian market, it is important to understand product registration in Peru. Registering a product in Peru involves a thorough assessment of its specifications to ensure compliance with local trade requirements and consumer safety. The National Institute for the Defense of Competition and the Protection of Intellectual Property (INDECOPI) is the public body responsible for protecting intellectual property and consumer rights in Peru, so you must go to this entity to register your product.
By patenting a product in Peru, you will be granted the sole right of commercialization, making it vital to protect your patent and mitigate any risk of plagiarism. Some of the main advantages of patenting your product in Peru include access to government benefits to encourage innovation, exclusivity in product commercialization, the ability to adjust pricing policies, and the opportunity to form alliances with other investors.
According to the regulations of product registration in Peru, the documents required to patent a product in the country include an application form, technical documents, proof of payment of the fee, and additional documents such as power of attorney, transfer of patent rights, or certification of the license or authorization for the use of traditional knowledge.
If you need assistance with product registration in Peru, as well as company formation, commercial representation, HR services, and other back-office support, our team at Biz Latin Hub has the experience and expertise to help you navigate the process and develop commercial operations in Peru.
