Reykjavik is 5 hours ahead of Lima
Best overlap: 8:00 AM to 1:00 PM in Lima is 1:00 PM to 6:00 PM in Reykjavik.
Plan around 8:00 AM to 1:00 PM in Lima, which is 1:00 PM to 6:00 PM in Reykjavik, to catch everyone during office hours. Reykjavik is 5 hours ahead of Lima, so the practical overlap is about 5 hours — generous enough for meetings, tight enough to be worth booking ahead.