For any of you looking to get your hands on a second passport, the new wave of citizenship by investment schemes must certainly be appealing. Though, with so much choice on offer, confusion is never far around the corner. So, understanding how each country’s scheme can benefit you should hopefully make your decision easier, and today we’ll be looking specifically at Peru, one of Latin America’s finest options for second citizenship!
So, why Peru?
Peru is found in the western portion of the region, bordered by Colombia, Brazil, Bolivia, Chile and Ecuador, meaning you’re never far away from another location to explore. The nation has coastline on the Pacific Ocean, as well as mountainous and rainforest areas, the diversity of which makes for an idyllic climate and an abundance of wilderness to adventure within.
More practically speaking, Peru is open to authorising inversionista residency, this means
your investment must be used to establish or invest in a business, so it creates a mutually beneficial environment where you can live while on your journey to citizenship, and the local Peruvian region you invest in benefits from the service you’re bringing there.
How do I apply?
Since March 2017, the law has been that anyone looking to make use of this route to citizenship has to invest the equivalent of 500,000 Peruvian Sol (roughly US$130,000) either into a pre-existing business in Peru or establish a new business with the same capital injection.
No nationality is banned from applying, opening this up to all of you reading, an exciting prospect in a world where restrictions have been governing whatever we do for quite some time now. The money you invest has to come from your bank account and do not be surprised if you’re asked to show a business plan, verification is important and no different in Peru.
In terms of documents, you’ll need to show the notarised copy or photocopy of the proof of cash investment, passport and Interpol Redemption card, as well as a feasibility study if you’re investing in a recently established company or business plan if you are establishing one yourself. It is also possible you will have to provide a commitment letter which is your letter of promise to hire 5 local workers in your business, developing this mutual relationship we talked about just a little while ago.
How long until I get my passport?
As long as you comply with the above requirements, your one-year investor visa is renewable, and after only two years of living in Peru, citizenship becomes available. You may be wondering, why is this useful to know?
Well, citizenship can be a process as long as five years in some countries, so to have less than half of that to spend in Peru before being able to apply for the passport is incredibly attractive, saving heaps of time in the process!
Are there other benefits once I get my passport?
Also, only 183 days of the calendar year needs to be spent actually in Peru for it to count as a year of residency, so for those of you not wanting to fully relocate, this option could be perfect. Once you have the passport, you get access to 138 countries, including the EU, without the need for a visa, an extra incentive if you’re an investor whose passport is
currently restricted and requires visas for many travel destinations.
So, if you are interested in finding out more about the pathway to citizenship through investment in Peru, as well as other opportunities to develop your business, contact us today! Below this article, you will find a link to set up a free fifteen-minute consultation with us to discuss your options further.
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