The best visa to obtain for a US citizen who wants to retire in Peru and maintain an extended stay is called Rentista Visa.
To qualify for this Visa you must be above 60 and receive income $1,000.00 U.S. Dollars or more per month from a source outside of Peru (like Social Security) and that income MUST ENTER Peru thru a Banking Institution. This Income must be permanent (i.e. a pension with no cash value or a government benefit).
You will not be liable for taxation on your foreign income; your residency is permanent and you are exempt from paying the 20% tax for bringing personal items into the country. For addition information please refer to the following to articles -
Obtaining a Rentista Visa in Peru (Part I)
By Ricardo Guevara Bringas
Published: February 23 2007
www.rgbavocats.com/eng/index.php
From experience, we may note that there are more and more foreigners who consider retirement in Peru. We also find some expats that receive certain income in their country of origin and wish to spend at least a year in Peru for leisure purposes. Most of them look for information regarding the best migratory status they should apply for.
This article aims at shedding some light on the legal framework of rentista visa which applies the above mention situations. Indeed rentista visa is not only directed at retired persons. According to Peruvian law all foreigners that benefit from pension or permanent income and that do not intend to work in Peru are entitled to apply to such visa.
In section 1, we will mention the main advantages of rentista visa. Then, in section 2, we will indicate the legal requirements for this visa.
The many advantages of rentista visa
The introduction of the Peruvian Regulation concerning the migratory status of rentista states that the entrance to the country, i.e., Peru, of persons with economic capacity generates economic exchanges and the entrance of money; improves the level of employment and allows an increase in the use of tourist and accommodation capacities.
Consequently and based on such reasons, it is easy to understand why foreigners who hold a rentista visa may benefit from various advantages.
As for the time of residence, the rentista visa allows to have an indefinite residence. So, there is no need for renewing the carnĂ© de extranjerĂa (residence permit) every year. But note that the holder of this visa may lose it if he or she is out of Peru for a period of more than 6 months during a calendar year or for shorter periods that amounts to 6 months during a calendar year.
In addition, the holder of the rentista visa is exonerated from payment of the tasa annual de extranjerĂa (a yearly payment that a foreigner with a carnĂ© de extranjerĂa must do). But payment of duties concerning the registering with the Registro Central de ExtranjerĂa (Central Registry of foreign residents) and the granting of the carnĂ© de extranjerĂa are compulsory, unless the foreigner obtain his rentista visa through a procedure of cambio de calidad migratoria (change of migratory status).
As for income tax, foreigners having duly obtained the status of rentista before the DIGEMIN (Peruvian General Directorate of Immigration and Naturalization), are exonerated from paying the Peruvian income tax. But note that according to Peruvian law such exoneration only applies to pensions coming from personal work, i.e., government/private funds pension.
Moreover, the holder of a rentista visa benefits from an exoneration of tax and duties in connection with the import of menaje and equipaje (personal and domestic items) they bring to Peru according to the relevant law.
Next article will focus on the legal definition of menaje and equipaje as well as on the legal requirements for the rentista visa.
Obtaining a Rentista Visa in Peru (Part II)
By Ricardo Guevara Bringas
Published April 3 2007
www.rgbavocats.com/eng/index.php
In my previous article, I mentioned the many advantages of having a rentista visa. In the last part of such article, it was stated that the holder of a rentista visa benefits from an exoneration of tax and duties in connection with the import of menaje and equipaje (personal and domestic items) they bring to Peru according to the relevant law. Without this exoneration they would have to pay a 20% duty on the value of menaje.
According to a special regulation related to equipaje and menaje of 2006, equipaje refers to all new and used goods that a traveler may reasonable need during his trip. In addition, the aim and the duration of the trip will be taken into consideration in order to assess whether the items are brought for personal or commercial purposes.
Menaje or menaje de casa amounts to new or used furniture owned by the traveler or by his/her family and the Peruvian regulations stipulate exactly which items shall be considered as menaje. Note that cars are not included in such a list. Consequently cars imported by foreigners with rentista visa will be subject to duties since they not fall into the scope of menaje.
In order to obtain the status of rentista, the petitioner must produce the following documentation:
Letter written by the petitioner expressly asking to benefit from such migratory status,
Copy of the passport of the petitioner,
Document in which the petitioner states the he/she does not have any criminal record in Peru and abroad;
Certificate guaranteeing reception of a permanent income from outside Peru of 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, if the applicant wishes that his or her family being considered as rentista he/she must prove that he or she gets an additional income of at least US $500 for each dependent as well to bring the proof of the relationship with the dependents (children who are minors, spouse…).
Once the rentista visa is obtained, the visa holder must apply for his/her registration with the Foreigner Registry (Registro Central de ExtranjerĂa), within 30 days from his/her entrance to Peru with such visa. This must be understood in light of the fact that resident visas are retrieved in Peruvian Consulates located abroad. Specific regulation does not mention the requirement of an INTERPOL certificate, but in practice DIGEMIN asks for such document in order to deliver the carnĂ© de extranjerĂa (resident permit). It is advisable to perform such procedure in order to get the certificate from INTERPOL at an early stage in Lima, ideally at the time where the rentista visa is requested from DIGEMIN.
Recent Changes to Rentista Visa
To obtain the sacred Peruvian Natioanl ID Card which allows you to open a bank account and not visit the Immigration Office on a monthly basis after three months is not all that hard to get. They have changed how you will prove the income, before they were requiring that the money go thru a Peruvian Bank now you must get a letter from the Institution that will be paying you the money stating the amount and how long the payment will be made. This letter must either be taken to a Peruvian Consulate abroad or notarized by the Embassy where the letter was issued. The letter must be translated into Spanish by an Official Translator and then taken to the Public Notaries office that will in turn accept it and stamp it yet again. You will then return to the lovely immigrations office and turn the document in proving income the Forumlario F007 completed, DONT SIGN IT UNTIL YOU GET TO THE IMMIGRATIONS OFFICE and you are in front of the person accepting the application. You will also need to surrender a copy of your Passport and have your original available for inspection. All processing of the applications and questions should be directed to the third floor at window(s) 8 or 9. Oh, finally you will need to obtain the Resident Card outside of Peru thru a local consulate.
Additional Resources:
For exchange rates see www.xe.com/ucc
Lima Immigration office – Prolongacion Av. Espana 734
Phone: 330-4111 / 330-4020 / 330-4074
Peruvian Immigration authority website DIGEMIN http://www.digemin.gob.pe/ (Spanish)
Residence Visa information
