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Person of independent means visa (Rentista) Residencies Plan of Peru (South America)
Person of independent means visa (Rentista)
You must prove that you have a pension or a permanent passive income of at least US$12,000 per year. For each dependent an additional US$500 per month may be required. Authorities may require greater amounts at their discretion.
You must prove your source of permanent income and undertake to transfer such amount to a bank account in Peru.
The Rentista visa is valid indefinitely, but you may lose it if you are absent for a period of more than 6 months during a calendar year or for shorter periods that amount to 6 months during a calendar year.
With this visa, you are not allowed to work in Peru. You may be exonerated from payment of the tasa annual de extranjería (annual foreign tax) and may be exempted from paying the Peruvian income tax on income from pensions derived from personal work.
Moreover, as a rentista, you may be exempted of tax and duties on import of personal and domestic items you bring to Peru.
After two years of legally residing in Peru, you may be eligible for citizenship, provided that you prove ties to the country, such as a residential property, you have been residing there during the whole two years and you have knowledge of the Spanish language and the culture and values of the country.
Instead of citizenship, you may apply for permanent residency after three years of legally residing in Peru. The permanent residency permit will allow you to live and work indefinitely in Peru.
Requirements
- Certificate guaranteeing receipt of a permanent income from outside Peru for at least US$1,000 a month, exclusively for the sustenance of the applicant. This income, declared in Peru, must enter the country via a banking institution
- If the certificate is expedited outside Peru, it must be legalized in the pertinent Peruvian Consulate and endorsed by the Ministry of Foreign Relations in Peru.
- If it is not in Spanish, the document must be translated into Spanish by a translator certified by the Peruvian government.
- In addition, the applicant must certify the receipt of an additional income of at least US$500 for each dependent (according to the "Law Regulating the Immigration Status of Persons with a Foreign Source of Income" Article 18 A - September 4, 2003).
Restricted Nationalities
No nationality is officially restricted
dual citizenship
Dual citizenship is recognized in Peru. You are not required to renounce your previous nationality to become a citizen of Peru.
Documents Required
- Original and photocopy of passport
- Receipt of payment of fees
- Interpol's International Exchange File
- Original Police Clearance Certificate
- Proof of income
- Two passport-size photos
- dual citizenship Yes
- Family members included Yes
- land ownership Yes
- Physical residence required Yes
- Personal visit required Yes
- Language skills required No
- Interview required No
- Investment Single -
- Investment Family 4 -
- Minimum annual income $12,000
- Time to citizenship 24
- Time to permanent residency
- Visa-free countries 118
- Financing available No
Peru
The Republic of Peru is a sovereign country of western South America and a member of the MERCOSUR. It is bordered by the Pacific Ocean to the west, Ecuador and Colombia to the north, Brazil to the east, and Bolivia and Chile to the southeast. Its territory is made up of diverse landscapes: valleys, plateaus and high summits of the Andes unfold to the west towards the largely-desert Pacific coast and to the east towards the Amazon. It is one of the countries with the greatest biological diversity and largest mineral reserves worldwide.It is populated by 31 million people, with Lima, its capital, being the most populated city. In Peru more than 60 languages and dialects are spoken, although at the political level, Spanish is the official language and, in the predominant areas, Quechua, Aymara and other Aboriginal languages are also widely spoken. Its official currency is the Peruvian Sol.
- National Flag of:Peru
- Currency:PEN
- Area Code:51
- Capital:Lima
- Continent:South America
- Native Languages:Spanish, ,
- Population:29,907,003
BENIFITS
With your new passport from Peru you'll be able to access 118 countries visa free
citizenship benefits Visa-free or Visa on arrival to 118 countries including Russia Schengen Area Southeast Asia The right to live and work in Peru at all times and all the rights associated with membership of the Gulf Cooperation Council Access to educational and healthcare benefits Visa-free access to Russia permanent residency benefits Peaceful democratic and politically stable country Potentially profitable investment Low cost of living Travel visa-free across Mercosur Warm climate Be eligible for citizenship in a short period of time The right to live in Peru without any time limitFEES
| ITEM | AMOUNT |
|---|
TAXES
An individual is deemed to be tax resident in Peru if he or she remains more than 183 days in a calendar year in the country.
Tax residents are subject to personal income tax on their worldwide income, while non-residents pay taxes on their income sourced in Peru.
Personal income accrued by residents is subject to progressive tax rates ranging from 0% to 30% on income exceeding 45 tax units (currently a tax unit is equivalent to PEN 3,850). Non-residents are taxed at a flat 30% rate on their Peruvian-source income.
Capital gains, as well as rental income and interest income, is taxed separately at a 5% rate. In the case of non-residents, gains derived from transfers of shares that take place outside the country are taxed at a 30% rate.
Dividends are subject to a final withholding tax, at an 8% rate for years 2017 and 2018, and 9.3% from 2019.
Passive income accrued by controlled foreign companies (CFC) may be attributable, provided that the resident holds at least 50% of ownership, voting rights, or gains and such companies are resident in tax havens or jurisdictions with nil or reduced tax rates.
Real property tax is levied at progressive rates from 0.2% to 1%, and tax is deductible for income tax purposes. Transfer of buildings is subject to a 3% tax, the first 10 tax units being tax-exempt.
There is no tax on net wealth and inheritances.
Regarding corporate taxation, resident entities pay 29.5% tax on their worldwide net income. Capital gains and dividends received from foreign entities are included in taxable income, but a tax credit for foreign tax paid is usually available.
To learn more about Peruvian corporate taxation, legal framework and tax treaties, check out incorporations.io/peru.
This should not be construed as tax advice. Flag Theory | Passports.IO has access to a global network of qualified attorneys and accountants who can give you the proper advice for your particular circumstances. Contact us for further information.
| TAX ITEM | DESCRIPTION |
|---|---|
| Property tax | Yes |
| Transfer tax | Yes |
| Inheritance tax | No |
| Net worth tax | No |
| CFC law | Yes |
| Tax residency days | 183 |
| Personal income tax rate | 30% |
| Capital Gains tax rate | 5% |
| Investment income tax rate | 8% |
| Territorial taxation | No |
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