A Comprehensive Guide to Long-term Residency in Peru

Capital: Lima

Population: 34,352,720 (2023,45th)

Ethic Group: 60.2% Mestizo, 25.8% Indigenous, 5.9% White, 3.6% Black

Area: 1,285,216 km² (19th)

Offical Language: Spainsh

Currency: Peruvian sol (as of July 31st, 2024, 1 Peruvian sol = 0.27 USD)

GDP per Captial:  $16,631 (2024, 97th)

Human Development Index: 0.762 (87th)

Country Profile:

Peru is located on the western side of the South American continent and is the center of the ancient Inca civilization, known worldwide as a popular tourist destination.

Peru is rich in natural resources, with significant assets in mining, agriculture, fishing, and tourism. The economy is primarily based on mining, but agriculture and tourism are also important components of Peru’s economy.

However, up to the present, Peru still faces a series of challenges in terms of social development, including poverty, inequality, and uneven access to healthcare and education resources.

Immigration And Visa System:

Permanent Residency & Citizenship:

Compared to other South American countries, Peru may not be as popular among immigrants, but it is one of the easiest places to obtain permanent residency.

Currently, foreign nationals who legally reside in Peru for two years and demonstrate sufficient proficiency in Spanish and knowledge of Peruvian culture are eligible to apply for Peruvian citizenship.

For those who have lived in Peru for three years but do not wish to become citizens, there is the option to apply for an Immigration Visa, similar to a permanent residency card. This visa is renewable every five years and can be held indefinitely.

However, even as a permanent resident, if you leave Peru for more than 365 consecutive days, your permanent residency status may be revoked.

Residence Permits:

So, what if you want to settle in Peru legally and long-term?

You will need to apply for a Peruvian residence permit. The country currently offers nine types of short-term and 18 types of long-term residence permits. Among these, the following four are relatively easy to apply for:

1. Retirement Visa: The Peruvian retirement visa does not require applicants to have reached a certain retirement age, but it does require a stable, lifelong income such as a pension, trust, or insurance. You need to have a lifelong passive monthly income of at least $1,000.

This visa, once issued, does not need to be renewed. However, each year, visa holders must submit a report to the Peruvian immigration authorities proving that they are actually residing in the country.

At a minimum, you need to live in Peru for at least six months each calendar year. If you spend more than six months outside the country in a year, your retirement permanent residency may be revoked.

2. Investor Visa: The Peruvian investor visa requires you to invest at least 500,000 soles, approximately $134,000 USD, in a business operation within the country.

Similar to the retirement permanent residency, the Peruvian investor visa also requires actual residence, with a minimum of 183 days spent in the country each year.

3. Digital Nomad Visa: The Peruvian digital nomad visa is a new program announced on November 14, 2023. The details of this visa have not yet been disclosed, and we will update you with relevant information as it becomes available.

4. Work Visa: The Peruvian work visa is issued to foreign nationals employed or starting a business in the country. The Peruvian government has set an annual income requirement for the work visa: to apply, your annual income must be at least $12,500 USD.

Dependents:

Passport Power:

Peru is part of the Southern Common Market(MERCOSUR).As shown in the figure below, citizens of the member countries of this agreement can freely work and live in any other member country. After two years, if one can provide proof of financial means to support oneself and family, they can directly obtain a permanent residence visa in the country of residence. Having Peruvian citizenship is very convenient for living in South America.

Useful Links:

Peru Immigration Office：https://www.gob.pe/mig