Obtaining a Rentista Visa in Peru (Part I)

By Ricardo Guevara Bringas RGB Avocats

From experience, we may note that there are more and more foreigners who consider retirement in Peru. We also find some expats that receive certain income in their country of origin and wish to spend at least a year in Peru for leisure purposes. Most of them look for information regarding the best migratory status they should apply for.

This article aims at shedding some light on the legal framework of rentista visa which applies the above mention situations. Indeed rentista visa is not only directed at retired persons. According to Peruvian law all foreigners that benefit from pension or permanent income and that do not intend to work in Peru are entitled to apply to such visa.

In section 1, we will mention the main advantages of rentista visa. Then, in section 2, we will indicate the legal requirements for this visa.

The many advantages of rentista visa

The introduction of the Peruvian Regulation concerning the migratory status of rentista states that the entrance to the country, i.e., Peru, of persons with economic capacity generates economic exchanges and the entrance of money; improves the level of employment and allows an increase in the use of tourist and accommodation capacities.

Consequently and based on such reasons, it is easy to understand why foreigners who hold a rentista visa may benefit from various advantages.

As for the time of residence, the rentista visa allows to have an indefinite residence. So, there is no need for renewing the carné de extranjería (residence permit) every year. But note that the holder of this visa may lose it if he or she is out of Peru for a period of more than 6 months during a calendar year or for shorter periods that amounts to 6 months during a calendar year.

In addition, the holder of the rentista visa is exonerated from payment of the tasa annual de extranjería (a yearly payment that a foreigner with a carné de extranjería must do). But payment of duties concerning the registering with the Registro Central de Extranjería (Central Registry of foreign residents) and the granting of the carné de extranjería are compulsory, unless the foreigner obtain his rentista visa through a procedure of cambio de calidad migratoria (change of migratory status).

As for income tax, foreigners having duly obtained the status of rentista before the DIGEMIN (Peruvian General Directorate of Immigration and Naturalization), are exonerated from paying the Peruvian income tax. But note that according to Peruvian law such exoneration only applies to pensions coming from personal work, i.e., government/private funds pension.

Moreover, the holder of a rentista visa benefits from an exoneration of tax and duties in connection with the import of menaje and equipaje (personal and domestic items) they bring to Peru according to the relevant law.

Next article will focus on the legal definition of menaje and equipaje as well as on the legal requirements for the rentista visa.