Early Retiree Seeking Rentista Visa

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amigorick
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Early Retiree Seeking Rentista Visa

Postby amigorick » Mon Nov 17, 2014 9:14 pm

I’d like to immigrate to Peru under a Rentista Visa but am not sure if I can qualify.

I am a US citizen, currently in my mid-50’s. I have retired early but will not be able to draw my Social Security estimated at $1500/month until I turn 62.

However I do have retirement funds and cash with a major investment firm. The amount in my account is more than enough to cover the required $1000 monthly transfer to a Peruvian bank until my 100th birthday. My investment firm is willing to write a letter stating the total amount of funds in the account and that $1000 is being deposited into my checking account on a monthly basis.

Has anyone successfully been issued a Rentista Visa under similar circumstances? Any advice?


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craig
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Re: Early Retiree Seeking Rentista Visa

Postby craig » Tue Nov 18, 2014 4:57 pm

Perhaps this

Rentista CE without pension

will be of help. If, after reading it, you have more questions you can PM me.

Note: it is quite possible that things have changed in the last two years but I have not tried to keep up.
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Re: Early Retiree Seeking Rentista Visa

Postby johnconti » Thu Nov 20, 2014 7:19 am

You could purchase an annuity.
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Re: Early Retiree Seeking Rentista Visa

Postby chitim » Thu Nov 20, 2014 11:07 am

Hello Amigo Rick,

My name is Tim Brace, I am an American Expat and the General Manager for Live in Lima, Relocations.

In addition to International home moves and housing search assistance, we specialize in helping expats with any visa / immigration issues that they may have.

Speaking to our legal expert about your situation, I have been informed that the immigration authority only requires that a Peruvian consulate in the States legalize a letter that certifies that you will receive a minimum of $1,000.00 per month and at least that amount must be sent monthly to a Peruvian bank.

Therefore if you can convince the Peruvian consulate to legalize a letter from your investment firm, which I can't see why they wouldn't, you should be good to go.

Good Luck!

If we can help you in any way just let me know.

Kind Regards,

Tim Brace
[email protected]
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Re: Early Retiree Seeking Rentista Visa

Postby amigorick » Thu Nov 20, 2014 2:18 pm

chitim wrote:Speaking to our legal expert about your situation, I have been informed that the immigration authority only requires that a Peruvian consulate in the States legalize a letter that certifies that you will receive a minimum of $1,000.00 per month and at least that amount must be sent monthly to a Peruvian bank.

Has your firm obtained Rentista Visas for any clients in the past 12 months? I'm curious if any of the requirements in the law have changed recently. I found this post on "Peru This Week" from July 2014 and it sounds like the source of the income requirement may have become stricter? Also I have read that the documents must be notarized and apostilled by the State government where signed/issued. I haven't heard about a Peruvian Consulate certification requirement.

http://www.peruthisweek.com/blogs-visa-for-rentistas-residual-income-103482

Is anyone out there currently in the process of applying for the Visa? I'd would be interested in hearing about your experiences.
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Re: Early Retiree Seeking Rentista Visa

Postby chi chi » Thu Nov 20, 2014 6:36 pm

amigorick wrote:Has your firm obtained Rentista Visas for any clients in the past 12 months? I'm curious if any of the requirements in the law have changed recently. I found this post on "Peru This Week" from July 2014 and it sounds like the source of the income requirement may have become stricter? Also I have read that the documents must be notarized and apostilled by the State government where signed/issued. I haven't heard about a Peruvian Consulate certification requirement.

http://www.peruthisweek.com/blogs-visa-for-rentistas-residual-income-103482

Is anyone out there currently in the process of applying for the Visa? I'd would be interested in hearing about your experiences.


I suggest that you talk to the migraciones office in Iquitos. I used them a few times to get a permisso para firmar contratos. They are very friendly and helpfull. Best of all, no waiting lines at all.
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Re: Early Retiree Seeking Rentista Visa

Postby gringito » Thu Nov 20, 2014 10:12 pm

Please bear in mind that there have been considerable legal changes in Peru´s alien laws in 2013.

What I have heared during the last 12 month was that Migraciones requests proof of an OFFICIAL pension.

Please suggest you contact Migraciones for details in order to be on the safe side.

Apart from that: Though Peru is considerably tightening its visa regulations, living in Peru with a tourist visa is still possible...(may not for long).
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Re: Early Retiree Seeking Rentista Visa

Postby craig » Fri Nov 21, 2014 7:37 pm

chitim wrote: Speaking to our legal expert about your situation, I have been informed that the immigration authority only requires that a Peruvian consulate in the States legalize a letter that certifies that you will receive a minimum of $1,000.00 per month and at least that amount must be sent monthly to a Peruvian bank.

Therefore if you can convince the Peruvian consulate to legalize a letter from your investment firm, which I can't see why they wouldn't, you should be good to go.

Consulates do not legalize private letters as such (and never have). What they used to do is legalize official documents (like birth certificates) and notarizations certified by the competent State authority. In the later case, they were legalizing the signature of the Secretary of State not the letter. However, this procedure has been obsolete for many years since Peru joined the Hague convention. Now you only need an apostille (eg. for the certification of the notarization); there is no need to deal with the Peruvian consulate anymore.

Altho the law and the regulations of Migraciones have long stated a requirement for proof that the $1000 comes to Peru by means of the banking system this has NEVER been enforced because it is impossible to comply with. Anyone who actually has experience with the process knows this. In the unlikely event that this has changed it is very recent.
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Re: Early Retiree Seeking Rentista Visa

Postby craig » Fri Nov 21, 2014 7:55 pm

amigorick wrote:I found this post on "Peru This Week" from July 2014 and it sounds like the source of the income requirement may have become stricter? ...

http://www.peruthisweek.com/blogs-visa-for-rentistas-residual-income-103482

Your source states:

The rules of the Rentista Act (section “c” of article 2 of the Super Decree N° 003-2005-IN) establish as valid a PERMANENT PENSION OR ANNUITY, with a net income equal or greater than (free from any deductions) of U.S. $1,000.00 in the form of:
1. Retirement or pension
2. Trust fund or disability
3. Dividends (as a shareholder of a company)
4. Royalties and similar types of income

This is about the same as it always has been (except for translation errors). In the above the Spanish "renta permanente" has been translated as "annuity" which is clearly not correct and is inconsistent with the last three items in the list. "Fixed income" would be a better translation. An annuity would be a type of fixed income which would fall under item 4.

That said, Migraciones' Cambio de Calidad Migratoria regulations in 2012 included a note containing the above quoted elaboration (in Spanish). This seems to have been removed in the Cambio de Calidad Migratoria version now on the Migraciones site.

While the language "retirement pension or fixed income" still appears in the enabling law from 2008

D.L. Nº 1043 Decreto Legislativo que modifica la Ley de Extranjería, aprobada por el D.L Nº 703.

given on the Migraciones site (I don't find anything more recent), the current regulations only speak of "fixed income" and no longer mentions either a pension or retirement.

Another change is that the current regs list an Interpol requirement. That did not appear on the regs in 2012 and it was definitely not required at that time. I would suspect that this still is not required for rentistas since there is still a requirement for a declaracion jurada to cover that and it does not appear in the current requirements for Residential Visa applications for rentista. Checking with Breña might be a good idea, but there is no sense in doing Interpol if you don't really have to.
Last edited by craig on Fri Nov 21, 2014 10:03 pm, edited 3 times in total.
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Re: Early Retiree Seeking Rentista Visa

Postby craig » Fri Nov 21, 2014 9:56 pm

gringito wrote:What I have heared during the last 12 month was that Migraciones requests proof of an OFFICIAL pension.

The current regulation on the Migraciones site say the following.

Copia legalizada o autenticada por el fedatario de la DIGEMIN del documento original del país de donde proviene la renta, que acredite que el solicitante percibe un ingreso neto permanente no menor a un mil (US$ 1,000.00) dólares americanos, el cual deberá estar legalizado por el Consulado Peruano y visado por el Ministerio de Relaciones Exteriores o apostillado.


They no longer mention retirement or pension or government at all. In the past they said (government) retirement pension or fixed income. Now they only say fixed income.

gringito wrote:Please suggest you contact Migraciones for details in order to be on the safe side.

That is a good suggestion. However, in my experience they often don't know what they are talking about. So it is best to go two or three different times to inquire of different people so that you can compare what they tell you.
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Re: Early Retiree Seeking Rentista Visa

Postby chitim » Sat Nov 22, 2014 7:28 am

Hello Again Amigo Rick

My apologies as I misunderstood and hence misstated the words of our legal / immigration expert. To ensure clarity here exact words follow:

Hello Tim:
I think you misunderstood my report.
The document has to be apostilled or legalized by the peruvian consulate, but, in case of U.S., is member of the Haya Convention for Apostilled, so the documents need to be apostilled.
For example, Canada is not a member of the Convention, thats why the Canadian documents are send it to Peru legalized by the peruvian consulate in Canada.
Regarding this case, the letter from the bank needs to be apostilled by the state government (just like i told you in the other retirement case) not for the peruvian consulate.

Regards,

Tim
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Re: Early Retiree Seeking Rentista Visa

Postby amigorick » Sat Nov 22, 2014 11:01 am

craig wrote:That said, Migraciones' Cambio de Calidad Migratoria regulations in 2012 included a note containing the above quoted elaboration (in Spanish). This seems to have been removed in the Cambio de Calidad Migratoria version now on the Migraciones site.


I found this Migraciones PDF for Rentista requirements dated 10OCT2014 (see page 6). https://www.migraciones.gob.pe/pdf/servicios_inmigracion_visas_residentes.pdf

The form, costs, date of passport expiration and perhaps some other requirement differ from Craig's site above. Both are official current Migraciones sites - a bit frustrating.

I inquired with Migraciones in Iquitos several months ago and they could not offer any additional clarification regarding requirements. They do not process Rentista Visas, only collect documents and forward to Lima (not comfortable with that as documents tend to get lost).

Since my Spanish is weak and I don't live in Lima, I am in contact with a lawyer to see if he might be able to perform the entire process for me via a poder. Expensive though - $900 up front and an additional $900 when the visa is issued. I'm waiting to hear if he has experience with non-pension applications such as mine. I'm also a bit concerned that after receiving the initial $900 the application will stagnate in a file somewhere unless additional money is paid for previously unexplained "expenses" (I have had that experience in Iquitos several times).

I am currently in the US for 3 months so I want to obtain all required documentation so I can start the process as soon as I return to Peru and have clean application that will be approved without needing any additional documentation/clarification.

Has anyone used a competent lawyer in Lima to perform this process that they can recommend?
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Re: Early Retiree Seeking Rentista Visa

Postby teamoperu » Sat Nov 22, 2014 11:20 am

Chi chi: ''I suggest that you talk to the migraciones office in Iquitos. I used them a few times to get a permisso para firmar contratos. They are very friendly and helpfull. Best of all, no waiting lines at all.''

Amigorick: “I inquired with Migraciones in Iquitos several months ago and they could not offer any additional clarification regarding requirements. They do not process Rentista Visas, only collect documents and forward to Lima (not comfortable with that as documents tend to get lost).”

Hmm...
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Re: Early Retiree Seeking Rentista Visa

Postby craig » Sat Nov 22, 2014 1:15 pm

amigorick wrote:I found this Migraciones PDF for Rentista requirements dated 10OCT2014 (see page 6). https://www.migraciones.gob.pe/pdf/servicios_inmigracion_visas_residentes.pdf

The form, costs, date of passport expiration and perhaps some other requirement differ from Craig's site above. Both are official current Migraciones sites - a bit frustrating.

That is "Solicitude de Visa de Residentes." What you want is "Cambio de Calidad Migratoria." The difference, as I understand it, is that the first is for applying for a visa from outside the country while the second is when you apply inside the country.

There is some doubt as to whether it is actually possible to obtain a visa from outside the country. I don't know of anyone who has ever done it. It is not a recommended route, even by migraciones.

The procedure that is known to work is to come to Peru on a tourist visa and then make an application to change your migratory status from tourist to rentista. A gotcha which they don't tell you about is that the application must be made within 30 days of your last entry to Peru. You can't come and wait a few months before making the application.

There are four info sources I know about on the migraciaones web site: Solicitud de Visa de Residentes web page, Solicitud de Visa de Residentes PDF, Cambio de Calidad Migratoria web page, and Cambio de Calidad Migratoria PDF. They all differ in minor ways which I don't think mean anything except that this is Peru. The information about the requirements is all essentially the same except the form to apply for a visa is different from the one to change your migratory status.

amigorick wrote:Since my Spanish is weak and I don't live in Lima, I am in contact with a lawyer to see if he might be able to perform the entire process for me via a poder. Expensive though - $900 up front and an additional $900 when the visa is issued. I'm waiting to hear if he has experience with non-pension applications such as mine. I'm also a bit concerned that after receiving the initial $900 the application will stagnate in a file somewhere unless additional money is paid for previously unexplained "expenses" (I have had that experience in Iquitos several times).

They will all pretend they have such experience. None do. All the lawyer can really offer is the ability to speak Spanish, otherwise they are just as clueless as you are.

You are right to be wary. A lawyer, paid up front, does not have nearly as much interest in success or as much at stake as you do.

amigorick wrote:I am currently in the US for 3 months so I want to obtain all required documentation so I can start the process as soon as I return to Peru and have clean application that will be approved without needing any additional documentation/clarification.

That is a good plan. However, I would recommend that when you have all your ducks in a row you make the application yourself in Lima. That is the best way to ensure it goes well. You only need to stay in Lima a few days to do that. You would then need to come back (or just stay a month or two) to get your CE when they are ready to issue it. You have be in Lima to do that anyway.
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Re: Early Retiree Seeking Rentista Visa

Postby AmigoRikard » Tue Feb 17, 2015 10:45 am

Excuse if I penetrate me in here :wink: I have a question relating Rentista:

I will retire and move to Perú in June. In Perú I will apply for a visa Rentista, but the strong dollar is not good for me (I live in Sweden). I will probably not reach the $ 1000 needed to get a Rentista, I'm landing round $ 900.

So my question is if anyone knows how strict they are with this limit of $ 1000. I have some money in the bank, could that help, what do you think?
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Re: Early Retiree Seeking Rentista Visa

Postby craig » Tue Feb 17, 2015 11:12 am

AmigoRikard wrote:So my question is if anyone knows how strict they are with this limit of $ 1000.

I can tell you from my experience that exactly $1000 is OK. However, my guess would be that any less will be cause to reject the application.

If you have sources of income other than a pension they could make up the difference. eg. interest, dividends, royalties, etc. The requirement is that the income is passive, that is it does not derive from your continuing to work or operate a business. However, substantiating an income derived from multiple sources might complicate things.
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Re: Early Retiree Seeking Rentista Visa

Postby AmigoRikard » Tue Feb 17, 2015 12:30 pm

Thanks for answer, I suspect that it probably was difficult when one do not reach $ 1000
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