Peru is a beautiful country filled with abundant natural resources, a vibrant ancient history, and a friendly, welcoming populace. It also offers ample opportunities for investment and business development. But taking advantage of these opportunities can be difficult as a foreigner.
Luckily, Peru offers people the option of acquiring dual citizenship. If you are someone looking for a fresh start in a new country, a place to retire, or a new business opportunity, it is worth considering whether Peru dual citizenship might make sense for you.
Requirements for Peru Dual Citizenship
Peru’s dual citizenship rules are fairly straightforward. There are a variety of ways that you can acquire dual citizenship.
Residence – Reside in the country for two consecutive years while in possession of a valid CE (“carnet de extranjeria,” i.e., foreign residence card) plus have a minimum of 42,500 soles (local currency). You will also have to pass a Spanish language and Peruvian history test.
Marriage – Reside in the country for two continuous years while I possession of a valid CE plus be married to a Peruvian for a minimum of two years
Retirement – Proof of a minimal annual income of $1,000 USD + an additional $500 for any dependents (such as a spouse)
Heritage – If one or both parents are of Peruvian heritage, the child is considered Peruvian by law. The Peruvian parent must register the child(ren) at a Peruvian consulate in order to acquire the Peru dual citizenship.
Benefits of Peru Dual Citizenship
There are many benefits to possessing Peru dual citizenship.
First, let’s talk about money. The cost of living is low in Peru, compared to most North American and European countries. This is particularly true if you work for a foreign company and get paid in euros or dollars.
There are also ample business and investment opportunities in Peru. The Peruvian economy grew at an average rate of 4.4% from 2009-2019, and this trend looks to continue. Mining, infrastructure, tourism, agriculture, and even tech are all booming industries in this developing country. While it is not necessary to be a citizen of the country in order to own and operate a business, possessing Peru dual citizenship makes things infinitely easier.
Then, there is travel. As a Peruvian citizen, you can come and go from the country as you please, without having to worry about minimum residency requirements. You will also be able to easily travel throughout South America. This is particularly true of travel within the “Comunidad Andina,” the regional bloc made up of the countries of Peru, Ecuador, Bolivia, and Colombia. You can also avoid stiff visa fees that some countries may impose on you if you travel on your non-Peruvian passport.
Lastly, becoming a Peru dual citizen makes your life a lot easier if you plan to live and or operate in the country. While some people are content maintaining resident status, it can be a pain to keep up to date with all the paperwork, most of which you must resubmit annually in order to remain in the country legally. Plus, residents must physically reside on Peruvian territory for 183 days out of every 365 or risk losing their resident status.
Drawbacks of Peru Dual Citizenship
The main drawback of a Peru dual citizenship is how long and complicated the process is to obtain it. Peruvians are a big fan of paperwork and bureaucracy. You will have to deal with a great deal of both to obtain your citizenship.
Because the process can be so frustrating and confusing – especially if you are not fluent in Spanish – it is advisable to seek the help of immigration professionals. Citizenships.com specializes in assisting high net-worth individuals in obtaining residence and citizenship in a variety of countries. If you want to live somewhere else, we can make it happen. Contact us for more information or a personal consultation.
You should also keep in mind that you will be responsible for paying taxes and serving in the military in both countries to which you owe allegiance.
Peru most certainly does allow Peru dual citizenship, despite what information on the US Government website states. Dual citizenship has been inscribed in the Peruvian constitution since 1993, and there is no talk of it being rescinded any time soon.
But, just because it is available does not mean that Peru dual citizenship is easily obtainable. Due to the mountain of paperwork required to make your application, many people solicit the assistance of immigration professionals to smooth the process over. Rules also change all the time in Peru, making the process extra challenging.
If you have the resources and the patience to endure all the bureaucracy, you will be granted permanent access to one of the best places on Earth.