From experience, we may note that there are more and more foreigners who consider retirement in Peru.

This article aims to shed some light on the legal framework of the rentista visa which applies to retired persons.

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 Peru of persons with economic capacity generates economic exchange and the flow of capital, which improves the level of employment and helps boost the use of tourist and accommodation facilities. In other words, the Peruvian government considers that admitting rentistas is good for the economy.

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

As for the duration of this migratory status, the rentista visa allows a foreigner to have an indefinite residence in Peru. So, there is no need to renew the carné de extranjería (residence permit) every year. Although it should be stated that the holder of this visa may lose this migratory status if he or she leaves 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 anual de extranjería (a yearly payment that a foreigner with a carné de extranjería must make).

As for income tax, foreigners having duly obtained the status of rentista before the MIGRACIONES (Peruvian entity in charge 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. Without this exoneration they would have to pay a 12% duty on the value of menaje.

According to a special regulation related to equipaje and menaje, equipaje refers to all new and used goods that a traveler may reasonable need during his trip. In addition, the aim and the duration of the trip will be taken into consideration in order to assess whether the items are brought for personal or commercial purposes.

Menaje or menaje de casa amounts to new or used furniture owned by the traveler or by his/her family and the Peruvian regulations stipulate exactly which items shall be considered as menaje. Note that cars are not included in such a list. Consequently cars imported by foreigners with rentista visa will be subject to duties since they not fall into the scope of menaje.

In order to obtain the status of rentista, the petitioner must produce the following documentation:

• A filled out copy of “Formulario F-004” (Form F-004);
• A receipt issued by “Banco de la Nación” (Peruvian National Bank) for the amount of S/ 117.60 (approximately USD 36,00);
• A copy of the passport of the petitioner;
• A “Ficha de Canje Internacional” (International Exchange File), issued by INTERPOL;
• A Document in which the petitioner states the he/she does not have any criminal record in Peru and/or abroad;
• Certificate guaranteeing reception of a permanent income from outside Peru of at least USD 1,000 a month, exclusively for the sustenance of the applicant. This income, declared in Peru, must enter the country via a banking institution.
• If the certificate is expedited outside Peru, it must be legalized at the pertinent Peruvian Consulate and endorsed by the Ministry of Foreign Relations in Peru, or with the apostille if applicable.  If it is not in Spanish, the document must be translated into Spanish by a translator certified by the Peruvian government.

In addition, if the applicant wishes his or her family to be considered as rentista he/she must prove that he or she gets an additional income of at least USD 500 for each dependent as well to bring the proof of the relationship with the dependents (children who are minors, spouse…).

Enjoy being a rentista!