Procedure to obtain Foreigner's Registration Card in Peru

REQUIREMENTS

Receipt of payment of the National Bank for processing fee (S /. 35.00 soles).

Copy and original passport

REGISTERING THE CARD

1. Foreigners card.

2. Receipt of payment of the National Bank of the fee for change of immigration status (resident: U.S. $ 200.00 U.S. dollars).

3. Receipt of payment of the National Bank of the rate change for change of migration status (resident Immigrant: U.S. $ 300.00 U.S. dollars).

4. Receipt of payment of the National Bank of the fee for registration in the Central Register of Foreigners:
Resident: $ 15.00 USD.
Resident Immigrant: 'U.S. $ 20.00 U.S. dollars.

5. Proof of payment of the Annual Rate Foreigners: $ 20.00

6. Card of international exchange (INTERPOL) for those who entered Peru with resident visa.

Peru signed Free Trade Agreement with UE

Peru and Colombia signed with the European Union (EU) Multiparty Trade Agreement, known as the Free Trade Agreement , the bloc's headquarters in the city of Brussels, Belgium.

Minister of Foreign Trade and Tourism of Peru, Jose Luis Silva Trade Commissioner of the European Union, Karel De Gucht and Minister of Commerce and Industry of Colombia, Sergio Diaz-Granados signed the agreement.

"I am pleased today to sign trade agreement with Colombia and Peru, which creates a stable framework to boost trade and investment between the EU and the Andean region," said De Gucht.

Meanwhile, Minister Silva welcomed the agreement: "The relationship between Latin America and the EU have centuries and it has been building a relationship in which trade has been part of daily walk. For Peru, the EU is its main trading partner. In the last ten years has quintupled trade between our countries and our exports grew 4 times in that same period. "

He added that the two countries are complementary in providing higher value added manufacturing and service sector. And he emphasized that Peru 95% of their trade under the protection of an FTA.

Meanwhile, Deputy Minister of Foreign Trade, Carlos Posada, said it has sent canned fish with great success and also identified potential products like maca, Sacha Inchi, Brazil nuts and mangos and organic bananas. In textiles and apparel, also opens the door for the export of alpaca wool garments.

Some Notes :

The EU is the second largest trading partner of the Andean region after the US.  In 2010, the Andean Community of Nations represented 0.7% of the EU's world trade, whereas the EU totaled 14% of CAN's trade (2009). In 2010,EU imports from Andean countries are predominantly primary products: agricultural products (41.1%); fuels and mining products (44.7%). EU exports consist mostly of manufactured goods (81.5%), notably machinery and transport equipment (46.5%) and chemical products (13.8%). The EU grants the Andean countries preferential access to its market under the EU's General System of Preferences(special incentive arrangement for sustainable development and good governance, known as GSP+).

Trade in goods

• EU goods exports to the Andean Community in 2010: €7.9 billion
• EU goods imports from the Andean Community in 2010: €12.2 billion

The agreement must be ratified by the European Parliament in October. You can download it here

Special Permission to Sign Contracts in Peru

If your are a tourist you can sign a contract of employment, first you must submit your file with all required documents, and an official will issue an order to pay 50.00 U.S. Dollars. After completing this procedure, request the "Special Permission to Sign Contracts"

General Requirements :

01. Form F-004 ( Here)
02. Receipt of payment of the National Bank for processing fee (S /. 12.25 soles).
03. Receipt of payment of the National Bank of the rate of immigration (U.S. $ 50.00) payment is made after the appropriate checks and money order issued by the official.
04. Copy and original passport.

Note:

Submit the signed Power of Attorney certified by Notary Public.
You must have a valid visa.

Ollanta Humala: "We welcome that Newmont has finally been identified with our proposal"

President Ollanta Humala said the Newmont "finally" was identified with the new environmental conditions to develop its Minas Conga megaproject, currently detained by protests from residents who fear that can contaminate water sources in Cajamarca.

Humala, however, did not say whether Newmont Mining has informed the Government to restart operations in Minas Conga project of 4.800 million, which could become the largest investment in a single mine in the history of Peru.

"We had already made an approach to this project and we welcome that they have finally identified with our proposal," Humala told reporters.

The copper-gold project Minas Conga was arrested in November after a wave of protests in the northern region of Cajamarca, which generated the first crisis of the Government of Humala. The protest in Cajamarca was resumed for 22 days.

In an attempt to quell the movement, the government hired experts in the study that evaluated the environmental impact of the project, after which recommended keeping two of four lakes that would be affected by its operation and increase the capacity of water tanks provided.

President Humala asked Newmont and Buenaventura local partner to comply with the proposals of the experts to advance the project, which would produce between 580.000 and 680.000 ounces of gold annually.

Newmont said last month that he would report at the end of June its decision on the future of its Minas Conga project.

Residents of Cajamarca reject the Minas Conga operation for fear that its development affects natural water sources in the area, living mainly from agriculture and livestock. Other local groups support the development of the gigantic plan, which has polarized the population.

Peru, the second largest producer of copper and the sixth in gold, has vast mineral resources, but extraction often face rejection from people who fear environmental damage or demand a greater share of industry revenue.

Peru placed domestic bonds by S /. 150 million

Peru placed domestic bonds by S /. 150 million

The amount offered has an expiration date to September 12, 2023 and a coupon of 5.20%. And given the high demand auctioned S /. 75 million.

Peru placed sovereign bonds in the domestic market of 150 million soles (about 56.5 million dollars) and auctioned in a second round 75 million of soles due to the strong demand, reported the Ministry of Economy and Finance (MEF).

The portfolio placed bonds on September 12, 2023 and a coupon of 5.20%.

According to the MEF (Ministry of Finances and Economy), the papers showed a demand of 923.2 million soles.

This placement is the first bond issue of the year in the program of Market Makers.

Investor Visa for Peru

Visa for Investors in Peru

This Information is to apply a Peruvian Investor Visa, DIGEMIN stands for Inmigration Direction, SUNAT (National Superintendency of Taxes), you can find the application form here 

http://www.digemin.gob.pe/formularios/f-004.pdf

Requirements to apply:

Receipt of payment of the National Bank for processing fee (S/.56.70 soles).

• Copy  of the beneficiary legalized visa (passport)  by the Peruvian Consulate and the Ministry of Foreign or Consular representation in Peru or authenticated by the notary of the DIGEMIN.


• Copy notary or authenticated by the notary of the Testimony DIGEMIN of the Constitution of the Company registered in the public records where the person appears with a minimum representation in capital of U.S. $ 25,000.00 in cash or its equivalent in soles.

• In case of transfer of shares or submit a copy legally notarized or copy certified by the notary of the DIGEMIN the Minutes of the Annual General Meeting and Book Share Transfer Deed or transfer of shares.
• Project Feasibility of business (if it is a recently incorporated company) or the Business Plan for two years (if this is a company), including the creation of five (05) jobs within no more than two years.

In addition:

• The form must be signed by the applicant (the alien holding a visa or the legal representative of the Peruvian company which has invested abroad).
• The beneficiary of the visa must be in regular migration status.
• The RUC tab of the Peruvian company must be active and there.
• Original or certified copy notarized or authenticated by the notary of the Registry File DIGEMIN the company to date.
• Proof of professional skill of signing the Project Feasibility and Business Plan.
• Prove that the money invested comes from abroad, for this purpose must submit documents relating to the "Baggage Declaration - Income" SUNAT made at the time the alien to enter the country in case of cash and carry / or financial instruments (travelers checks, stocks, bonds, certificates of deposit or otherwise) in excess of U.S. $ 10,000.00 (ten thousand and 00/100 dollars) or documents relating to transactions with banks or other money transfer methods drawn from abroad for foreign and / or the Peruvian company where the foreign partner.
• If the form is signed by the attorney must be attached Power of Attorney to legally notarized signature of the applicant, if the power is granted abroad must be legalized by the Consulate of Peru and the Ministry of Foreign Affairs or Apostille.
• Copy of the identity of the agent, if applicable

Foreign Residents Taxes in Peru

Let´s look in a brief summary the tax legislation in Peru that foreign residents need to be aware of.


Foreign, must pay income tax for revenues they earn in Peru, the notion  income from Peruvian source is very extensive, such a notion includes a spectrum of types of revenues ranging from incomes generated by real estate located in Peru, commercial or civil activities developed in Peru, to Internet services provided abroad to clients who use such services in Peru.


In addition, in the event if the foreigner is a resident in Peru, that person (colective or individual) must not only pay for incomes from Peruvian source, but also for income created anywhere in the world. For instance, an American citizen considered by the Peruvian Tax Authority (SUNAT) to be resident in Peru, will have to pay income tax even for incomes produced by real estate properties located in the US. Furthermore, note that when a foreigner carries out work in Peru for a company registered off-shore, always  is bound to pay income tax in Peru.


According to the Peruvian legislation, revenues are divided into the following categories:

• 1st category revenues:  income produced by rental lease agreements.
• 2nd category revenues: capital gains such as interest from loans and royalties.
• 3rd category revenues:  income produced by commercial and industrial activities.
• 4th category:  income produced by independent professionals.
• 5th category: income produced by employees.

The 1st, 2nd, 4th and 5th of the above mentioned categories refer to income produced by individuals or natural persons. The 3rd category refers to income produced by companies and/ or persons acting as entrepreneurs or businessmen


In the 3rd category, a 30% income tax is applied to net revenues. For the other categories of revenues, there will be different rates that are progressively applied in proportion to the amount of the global net revenue during a year.


Net revenue to 27 UIT: 15%


More than 27 UIT but less than 54 UIT: 21%


More than 54 UIT: 30%


Note:  UIT = 3600 PEN = 9720 $ (results may vary depending exchange rate)


("UIT". amount fixed by the government, stand as a Taxation Unit.)


The aforementioned rates only apply to taxpayers  in Peru. If the taxpayer is a natural person not resident in Peru, one single rate of 30% will apply! 


According to Peruvian regulation, foreigners that are considered to be resident in Peru if they comply with one of the following requirements:


(i)  Foreigners who have lived in Peru for 2 years without being abroad during each calendar year for a total period of more than 90 days.
(ii)  Foreigners who have lived in Peru for 6 month and are registered in the Registry of Taxpayers (RUC). (see article : Steps to start a business in Peru part II)
(iii)  Foreigners who have lived in Peru for 6 months and have asked their employer in Peru to be considered as being resident in Peru.
Note that the effects of "residency" begin to apply the year after the above mentioned requirements have been fulfilled. Consequently, the sooner in a calendar year a foreign employee arrives in Peru, the better chances he or she has to be considered as being resident in Peru from a tax viewpoint.


Source : Peruvian Income Tax Law (Ley General al Impuesto a la Renta)