Transferring money to buy a house

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Slippery Jack
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Transferring money to buy a house

Postby Slippery Jack » Sun Jun 15, 2014 6:45 am

Apologies if this has been covered elsewhere, but I couldn't find anything.

What is the best way to transfer money into Peru to buy a house? Presumably there will be some kind of tax associated with this, correct?

GT


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chi chi
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Re: Transferring money to buy a house

Postby chi chi » Sun Jun 15, 2014 10:07 pm

Slippery Jack wrote:Apologies if this has been covered elsewhere, but I couldn't find anything.

What is the best way to transfer money into Peru to buy a house? Presumably there will be some kind of tax associated with this, correct?

GT


When I bought my home, I just transferred the money from my Irish bank account to my Peruvian bank account. No hassle at all.

When the money arrived in my Peruvian bank account, the bank asked me to fill out a form and I had to write on it where the money came from and sign a statement. I declared that the money came from my savings account.
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mickd
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Re: Transferring money to buy a house

Postby mickd » Mon Jun 16, 2014 4:14 am

When I purchased my apartment in 2012, I transferred the monies from my UK bank account to my Peruvian wife's account in Lima, with no problem. However it is advisable to have all records of transfers from which bank account and, sent to whom and for how much. This is in the event of the Sunnat wanting to know where the monies has derived from, ie, not money laundering.
I hope that this is of some help to you.
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adrian Thorne
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Re: Transferring money to buy a house

Postby adrian Thorne » Mon Jun 16, 2014 7:00 am

I have purchased three properties of various types in Peru and on each occasion paid without involving my bank here.
I had it incorporated in to the Testimonial that both the deposits and final payment would be paid direct to a nominated seller's account from my UK Bank via "SWIFT", within a four day time frame. The seller was happy with this method as he could be assured of safe receipt.
This avoids and handling of money by my Peruvian Bank and Notary. The deposit tax becomes the liability of the seller and if a declaration of source is required your bank will make the statement direct.
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chi chi
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Re: Transferring money to buy a house

Postby chi chi » Mon Jun 16, 2014 7:42 am

adrian Thorne wrote:This avoids and handling of money by my Peruvian Bank and Notary. The deposit tax becomes the liability of the seller and if a declaration of source is required your bank will make the statement direct.


Well done because even if you want to transfer money from your own bank account to the sellers bank account in Peru, you have to pay a fee to the bank.
To tranfer the money from my account to the sellers account, I was charged almost 300 soles.
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adrian Thorne
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Re: Transferring money to buy a house

Postby adrian Thorne » Mon Jun 16, 2014 7:58 am

chi chi wrote:
adrian Thorne wrote:This avoids and handling of money by my Peruvian Bank and Notary. The deposit tax becomes the liability of the seller and if a declaration of source is required your bank will make the statement direct.


Well done because even if you want to transfer money from your own bank account to the sellers bank account in Peru, you have to pay a fee to the bank.
To tranfer the money from my account to the sellers account, I was charged almost 300 soles.


Only if your seller has an agreement with you to pay the deposit tax on his account. If I pay you cash for your Moto by bank deposit and it is over the 10,000 limit I would never pay the deposit tax. It would be taken from the sums deposited. You have already stated you did not use this method.
I attach a copy of an extract from one of my Testimonials as proof of agreement.

=======================================================
CUARTO: El precio pactado de común acuerdo entre las partes por inmueble, así como todos los derechos mencionados en párrafo anterior, es de US$ xxx,xxx,xx (xxxxxx xxxxxxx MIL Y 00/100 DOLARES AMERICANOS), los cuales, serán cancelados en la siguiente forma: ======
4.1 La suma de US$ XX,XX.XX (XXXXXX MIL DOLARES AMERICANOS), que por instrucción de LOS VENDEDORES, han sido cancelados mediante un depósito bancario el día 10.12.13 efectuado por LOS COMPRADORES en la cuenta número XXXXXXXXXXXXXX del Banco de Crédito de Peru, depósito que LOS VENDEDORES declaran haber recibido a su entera satisfacción. =============================
4.2 La suma de US$ XXX,XXX.XX (XXXXX XXXXXXXXX MIL Y 00/100 DÓLARES AMERICANOS) que será cancelado a la firma de la Escritura Pública que origine la presente minuta de lo que usted Señor Notario se servirá dar fe. ============================================
Ambas partes declaran que el mencionado inmueble ya ha sido entregado con fecha 15 de Diciembre del 2013. ==============================
En caso que LOS COMPRADORES, previo requerimiento conforme a Ley

It is important to provide factual information to help the expat community, who are new to Peru and not just provide assumptions.
victmanu
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Re: Transferring money to buy a house

Postby victmanu » Mon Jun 16, 2014 6:01 pm

Do not withdraw cash from your bank account to give it to the property owner, it could be dangerous, So transfer a cheque de gerencia from your bank.

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