Residency

Answers to your qestions about moving to, and living in, Peru,
timberwolf
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Posts: 1
Joined: Tue Apr 10, 2018 5:40 pm

Residency

Postby timberwolf » Mon May 28, 2018 11:09 am

I have been a resident of Peru for 2 years and have a CE that is valid for 3 more years but needs the prorroga annually. My work contract has expired and I will not be able to do the prorroga which is past due. I want to continue to stay in Peru for the next year or so to see if I can find work or open a business.

What will happen when the annual prorroga has expired, do I have to give up my CE in order to leave and re enter the country? How soon after the prorroga expires will I have to leave the country?

Basically I would like to know my options for staying in Peru (I have built a life here).

Thanks for the time.


Udo
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Posts: 56
Joined: Thu Oct 11, 2012 4:00 pm

Re: Residency

Postby Udo » Mon May 28, 2018 2:03 pm

If your CE is still valid, you can open a business banking account (if you don't already have one). I would hire a good immigration attorney. If you can demonstrate some valuable skillset and/ or advanced degrees, better still. You can set up a Sociedad Anonima Cerrada (S.A.C.) with yourself as the only employee, the legal representative, and general manager. There is a perfectly legal loophole in this business entity where you do not have to hire 4 or 5 Peruvians. Pay yourself a minimum monthly salary which equals 10 U.I.T. annually for 2 or 3 years (this period may have changed with the new TUPA). Unfortunately you will have to pay ESSALUD and AFP pension on your salary each month. At the end of this 2 or 3 year period (when you are free to suspend or close your business), you convert your annual CE into a permanent resident CE, status Inmigrante, which lasts 5 years and is much more easily renewed at the end of those 5 years. This is what my lawyer did for me and, unlike a retirement visa, it allows you to work.

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