I am planning to move to Peru with my girlfriend. She is Peruvian but I hold US and EU passports. I have a job lined up with a US company that I will be able to do from there as a remote contractor. I am trying to figure out a good formula to be able to reside there legally and work remotely if there is one. On top of this, I would like to avoid having to pay double taxes (US / Peru).
* Does it make a difference if I move there as EU or as US citizen?
AS A US CITIZEN, YOU CAN EARN UP TO AROUND $90,000 A YEAR, AFTER WHICH YOU NEED TO PAY TAX IN THE USA (AS WELL AS IN PERU). I DO NOT KNOW THE DEAL WITH THE EU.
* How can I legally reside in Peru? I read online that I could create a company (Me Inc.) and charge my client through it. Having a company makes it easier to get residency. How accurate is this? What's the fine print?
THIS IS MUCH HARDER THAN IN USED TO BE. YOU WILL BE REQUIRED TO COMPLY WITH A LOT OF FORMALITIES (I HAVE HEARD THEY ASK FOR BUSINESS LICENSE NOW.)
* As a US citizen, I am required to file taxes every year regardless of where I live. How can I avoid paying taxes in booth countries legally?
* Should I get paid in the US or the Peruvian bank account? Is it worth investigating something like Revolut?
IF YOU OPEN A COMPANY IN PERU, YOU WILL NEED TO RECEIVE MONEY HERE.
* What kind of paperwork and timelines are to be expected?
* What other quirks should I explore? ie: insurance, bank accounts, ...
PRIVATE HEALTH INSURANCE IS WIDELY AVAILABLE AND RELATIVELY INEXPENSIVE COMPARED TO THE USA. BANK ACCOUNTS CAN BE OPENED BY PEOPLE WHO HAVE A CARNET OR SOME OTHER LONG TERM LEGAL STATUS HERE - THOUGH FROM TIME TO TIME YOU HEAR ABOUT BANKS THAT OPEN ACCOUNTS BASED ON A PASSPORT AND A TOURIST VISA.
carloso wrote:This is what so-called digital nomads do. But no, I have never heard of a visa category, from any country, that is specific for that situation. Maybe they will be a thing in the future as people become more location independent. I know a lot of people would rather pay the country a fee for, let's say, a one-year temporary residence permit versus having to do visa runs like you have to do in Thailand or Vietnam, for instance. While they are living there, they would also contribute to the economy through their consumption, effectively bringing foreign capital in. Not a bad deal for all parties involved, if the host country is a developing country.
As per the comments here, Peru just moved to make this harder though. Not that is was a hub before or anything, but they just made it harder. I could see cities like Cuzco or Arequipa becoming more attractive to nomads and expats, like Medellin or Chiang Mai are, if this wasn't the case.