Summary
Yes. Americans can buy and own property in Peru in their own name, with the same rights as Peruvians under Article 71 of the Constitution. The only area closed to you is a 50 km strip along the borders.
Lima, Arequipa city, Cusco and Trujillo are all open. Your US passport changes nothing about what you can buy, and you don't need residency: a tourist entry is enough, plus Migraciones' signing permit, free since October 2023.
Peru publishes no count of American buyers. Most look at Miraflores, Barranco and San Isidro in Lima, where 2-bedroom apartments had median asking prices of $180,000 to $237,000 in September 2026.
Buying costs about 3% to 4% of the price on a resale: on a $150,000 (about S/ 516,000) apartment, S/ 15,672 ($4,550) to S/ 16,922 ($4,900). A new unit bought from the developer costs about 1% to 2%.
Americans pay the same rates as Peruvians: alcabala is 3% of the price above the first S/ 55,000 ($16,000), and there is no surcharge for foreigners.
Mortgages are mostly for residents. We found no standard offer for a non-resident living on US income; with Peruvian residency and income, banks lend up to 90%, at an average 7.11% in dollars (SBS, October 2026).
There is no US-Peru income tax treaty (the trade agreement in force since 2009 is not one). You report Peruvian rent and gains on your US return and claim a foreign tax credit (Form 1116) for the 5% you pay in Peru.
A home you own directly does not go on Form 8938 or the FBAR. Your Peruvian bank account does, once your foreign accounts pass $10,000 at any point in the year.
Holding the home through a Peruvian company adds Form 5471 on the US side and company accounts in Peru, so for one apartment, buy in your own name.
Since January 1, 2026, the US charges a 1% tax on remittances paid in cash, not on wires from a US bank account. In Peru, any payment of $500 and up must go through a bank, and each 1% of exchange spread costs $1,500 on a $150,000 purchase.
As a tourist you can stay up to 183 days a year, and more than 183 days in 12 months makes you a Peruvian tax resident from the next January 1. For a longer stay, the rentista visa needs $1,000 a month of passive income.
When you sell as a non-resident, Peru takes 5%, on the whole price unless SUNAT certifies your cost first: on a $180,000 sale, $9,000 instead of about $1,500.
Bottom line: buy in your own name, pay by wire from a US bank account, keep every receipt, and see a cross-border tax preparer before you rent out or sell.
What can an American buy in Peru, and how?
Can I buy a home in Peru as a US citizen?
Yes. Americans can buy apartments, condos, houses and land in their own name in most of Peru, because Article 71 of the Constitution gives foreigners the same property rights as Peruvians.
The steps are the same as for a local buyer: you agree on the price, sign a purchase contract (minuta), turn it into a public deed (escritura pública) at a notary, and register it at SUNARP, Peru's property registry.
The one big exception: foreigners cannot own property, directly or indirectly, within 50 km of the borders with Ecuador, Colombia, Brazil, Bolivia and Chile, unless a Supreme Decree approved by the Council of Ministers declares a public necessity. Lima, Arequipa city, Cusco and Trujillo are well outside the strip.
Are there many Americans buying property and living in Peru?
Nobody knows the exact number. Peru publishes no count of property purchases by nationality, and no reliable official count of Americans living there, so treat any figure you read online as a guess.
What we do see: most American buyers look at Lima's Miraflores, Barranco and San Isidro, then Cusco, the Sacred Valley (Pisac, Urubamba) and Arequipa. In September 2026, the median asking price of a 2-bedroom apartment was about $237,000 in Miraflores, $232,000 in San Isidro and $180,000 in Barranco (TuLugar).
The draw is mostly lower living costs, food and an easy legal setup for foreign owners. The downsides people talk about in 2026 are crime and extortion in Lima, where the state of emergency was extended again in late October 2026, and politics: Keiko Fujimori took office on July 28, 2026, the ninth president in a decade. Nothing in the property rules changed with her.
Do foreigners have the same buying rights as locals?
Yes, outside the border strip. Americans get no special treatment, good or bad, compared with other foreigners or with Peruvians.
No treaty gives US citizens better property rights. The US-Peru Trade Promotion Agreement, in force since 2009, protects investors in general, but it does not change the property rules and it is not a tax treaty.
In practice the differences are with banks, not the law: lenders want a carné de extranjería and Peruvian income before they look at a mortgage.
Can I buy property in Peru without a residence permit?
Yes. You can buy with your US passport on a tourist entry. There is one formality: to sign a deed as a tourist, you need Migraciones' special permit to sign documents, free since October 2023, issued in up to 5 business days and valid for 30 days.
If you can't fly in, you can give a power of attorney at a Peruvian consulate in the US, or sign it before a US notary, apostille it and have it officially translated; it is then registered at SUNARP. Limit it to one property, a maximum price and an end date.
Buying does not give you a visa. The rentista visa needs at least $1,000 a month of permanent passive income (a pension, for example), and the investor visa needs S/ 500,000 ($145,000) put into a Peruvian company, not into an apartment.
Can US citizens own land?
Yes. Ownership in Peru is full ownership with no time limit (like freehold). Your name goes on the SUNARP record, with the same protection as a Peruvian owner. For a condo, you own your unit plus a share of the common areas.
The border strip applies to land too, and buying through a Peruvian company does not get around it: the Constitution covers indirect ownership.
The bigger risk with land is the title, not the law. Rural plots, in the Sacred Valley for example, often have informal or communal titles. Pull the partida registral at SUNARP before you pay anything.
What documents will I need to buy?
Your US passport, the signing permit if you are on a tourist entry, the minuta, the notarized escritura pública and proof that the alcabala is paid. Before signing, get the SUNARP partida registral to check the owner and the cargas y gravámenes (liens and charges).
You don't need a RUC (tax number) just to buy. You will need one if you rent the place out, since rent is taxed at 5% of the gross.
A Peruvian bank account is not required, but it makes paying the predial, the arbitrios and the utilities much easier. Expect the notary and the bank to ask where your money comes from: keep US bank statements and the wire confirmations.
Any US document you use in Peru (a power of attorney, a marriage certificate) needs an apostille and an official Spanish translation.
Can a foreign-owned company buy property?
Yes, under the same border rule as individuals. Americans who use a company usually set up a Peruvian SAC or SRL rather than buying through a US LLC, because a Peruvian company is easier to deal with for banks, notaries and SUNAT.
For one home, a company rarely saves tax. In Peru, it means company accounts, and rent and a later sale are taxed as business income instead of the simple 5% rates for individuals.
On the US side, owning a foreign corporation brings its own form, Form 5471, with steep penalties if you forget it. For one or two apartments, buying in your own name is simpler.
Buying in Peru as a Foreigner
What taxes and fees will you pay when you buy in Peru?
What are buyer taxes?
The main tax is the alcabala: 3% of the price above the first 10 UIT, or S/ 55,000 ($16,000) in 2026, paid by the buyer on a resale. On a $150,000 (about S/ 516,000) resale, that is about S/ 13,830 ($4,000).
A first sale by a developer is exempt from alcabala, except on the land share. Instead, the developer charges 18% IGV on the construction part only (not the land), already included in the advertised price; homes up to 35 UIT (S/ 192,500 ($56,000)) are exempt.
The rates are the same for Americans and Peruvians, and the same for a home you live in or one you rent out.
What are other closing costs?
The notary charges about S/ 250 ($73) to S/ 1,500 ($435) for the deed, and SUNARP about 0.3% of the value plus S/ 44.50. Add it up and buying costs about 3% to 4% of the price on a resale: S/ 15,672 ($4,550) to S/ 16,922 ($4,900) on a $150,000 (about S/ 516,000) apartment. On a new unit bought from the developer, it is about 1% to 2% (S/ 4,062 ($1,200) to S/ 5,312 ($1,550), if the land is a quarter of the price).
A lawyer is optional but worth it for a foreigner who can't read a partida registral. There is no official fee scale, so ask for a fixed quote.
The agent's commission, usually 3% to 5%, is normally paid by the seller.
The cost Americans tend to miss is the exchange spread. Banks often pay you well under the SUNAT/SBS rate (3.44 soles per dollar on October 22, 2026), and each 1% of spread costs $1,500 on a $150,000 purchase. Most apartments in Miraflores, San Isidro and Barranco are priced in dollars: pay in dollars and you skip the conversion.
Are there hidden fees foreigners miss in Peru right now?
Three things catch foreign buyers out. First, old municipal debts: ask the seller for proof that the predial and arbitrios are paid up, because unpaid ones can follow the property.
Second, apostilles and official translations of US documents, which you pay per page. Third, bank costs on the transfer: the wire fee, the exchange spread and the ITF of 0.005% on Peruvian bank movements.
After you buy, the predial is small. It is calculated on the municipal valuation (autovalúo), usually well under the market price: 0.2% up to 15 UIT, 0.6% from 15 to 60 UIT and 1% above, so about S/ 1,470 ($425) a year on a S/ 300,000 valuation. Add the district's arbitrios and the building's monthly fees, which vary too much from one building to the next for an average to mean anything.
70+pagesCan an American get a mortgage in Peru?
Do banks lend to US citizens?
Mostly if you live there. Banks lend to foreigners with a carné de extranjería and income in Peru, up to 90% of the price over up to 30 years at Interbank or Scotiabank for borrowers who qualify.
We found no standard mortgage for a non-resident living on US income. Most Americans buy in cash, or borrow at home against US assets.
Being American is no advantage or handicap compared with other foreigners, though FATCA asks Peruvian banks to report US clients' accounts to the IRS, which means more forms when you open one.
What down payment do American people need?
Plan on 20% if you are a resident with Peruvian income, and 30% or more if a bank agrees to look at your file without it. On a $155,000 (about S/ 533,000) 2-bedroom apartment, that is $31,000 to $46,500.
A bigger down payment helps more for approval than for the rate: there is no published foreigner rate, and banks decide case by case.
Remember the buying costs on top: 3% to 4% on a resale, paid in cash.
What interest rates do US citizens get?
The SBS average was 7.61% in soles on October 20, 2026 and 7.11% in dollars on October 16, 2026. A foreigner with a thin file should expect to land above the average.
On a $155,000 (about S/ 533,000) apartment with 20% down, a 20-year dollar loan at 7.11% costs about $953 a month, and banks want about $3,177 of monthly net income.
If you earn in dollars, borrow in dollars: the gap with soles is only half a point, and you avoid currency risk on the debt.
Rates have come down from about 9.10% at the end of 2023, but BBVA expects two small rises in the central bank rate (now 4.25%), so don't count on cheaper loans soon.
Can I use US income to qualify in Peru right now?
Rarely on its own. Banks that do look at it want two years of US tax returns, proof of employment or of your business, 6 to 12 months of bank statements and often a guarantor.
What usually tips the file: a residency card, 6 months or more of deposits in a Peruvian account and a clean SBS credit record.
If that is not you, compare with a home equity loan or a securities-backed loan in the US, which may be faster than a Peruvian mortgage.
70+pagesWhat do you owe the IRS on a home in Peru?
Do I have to declare the property to the IRS from Peru?
Not the home itself. A house or apartment you own directly in your name is not reported on Form 8938 or the FBAR.
What you do report: the rent, on your US return (Schedule E), and the gain when you sell. And your Peruvian bank accounts, once their total passes $10,000 at any point in the year (FBAR), or the Form 8938 thresholds.
Owning through a Peruvian company changes this: the company shares count for Form 8938, and you may owe Form 5471.
| What you have in Peru | US filing | When it applies |
|---|---|---|
| A home in your own name | Nothing for the home itself | Not on Form 8938 or the FBAR |
| Peruvian bank accounts | FBAR (FinCEN 114) | Total above $10,000 at any time in the year |
| Peruvian bank accounts | Form 8938 | Single, living in the US: above $50,000 on Dec. 31 or $75,000 at any time; living abroad: $200,000 / $300,000 |
| Rent | Schedule E, plus Form 1116 for the 5% paid in Peru | Every year you rent |
| A sale | Schedule D / Form 8949, plus Form 1116 | The year you sell |
| A Peruvian company (SAC, SRL) | Form 5471, Form 8938 | As soon as you own it |
Will I pay tax twice in the US and Peru?
Mostly no, but not thanks to a treaty. There is no US-Peru income tax treaty on the IRS list; the trade agreement is not one.
Peru taxes the rent at 5% of the gross, for residents and non-residents alike. On a Lima 2-bedroom renting for S/ 2,281 ($665) a month (Urbania, July 2026), that is about S/ 1,369 ($400) a year. The US taxes the same rent, after expenses and depreciation (over 30 years for a foreign rental), and the foreign tax credit on Form 1116 lets you subtract the Peruvian tax.
When you sell, a non-resident pays 5% in Peru, on the whole price unless SUNAT certifies your cost first: on a $180,000 sale, $9,000 instead of about $1,500. The US taxes the gain too. If Peru taxes the whole price, you can end up paying more in Peru than the US credit can absorb, so get the SUNAT certificate before the sale.
Two more US rules: if you lived in the home 2 of the last 5 years, the main-home exclusion ($250,000 of gain, $500,000 for a married couple) works for a home in Peru too. And foreign property tax is deductible against rent, but not as a personal deduction on a home you only live in.
Do I need FATCA reporting when buying?
Only for the accounts, not the property. Form 8938 starts at $50,000 on December 31 or $75,000 at any time for a single filer living in the US, and $200,000 or $300,000 for one living abroad (double for a married couple filing jointly).
The trap is the purchase itself: if you park $150,000 in a Peruvian account for a few weeks before paying the seller, you cross both the FBAR and the Form 8938 thresholds for that year, even if the account is empty by December. Wiring straight from your US account to the notary's or the seller's account avoids it.
Before you buy, ask a US preparer who does international returns three things: will my Peruvian account trigger the FBAR or Form 8938, how do I claim the credit for the 5% on rent, and what happens on the US side when I sell.
70+pagesHow do you move money from the US to Peru in 2026?
Wire it from a US bank account. Since January 1, 2026, the US charges a 1% tax on remittances paid in cash, by money order or cashier's check; transfers funded from a US bank account or a US debit or credit card are exempt. Proposed IRS rules came out in April 2026.
On the Peruvian side, any payment of S/ 2,000 or $500 and up must go through a bank (bancarización). The notary records how you paid, and a cash payment can cost you the right to count that price as your cost when you sell.
The sol is at about 3.44 per dollar (SUNAT/SBS, October 22, 2026). It has eased about 1.8% in a month but is still stronger than its 2025 average of 3.56, so an apartment priced in soles costs more in dollars than a year or two ago. Most Lima apartments are priced in dollars anyway: pay in dollars and keep the wire confirmations.
Getting money back out is not a problem: Peru has no exchange controls, but your bank will ask for proof of the sale and of the tax paid.
How long can an American stay in Peru without a visa?
You don't need a visa as a tourist. The officer decides your stay at the border, up to 183 days in a 365-day period, and often gives less, so check the number of days on your digital entry record (TAM). Your passport should be valid for six months.
Tourist days are also tax days. Spend more than 183 days in Peru in 12 months and you become a Peruvian tax resident from the next January 1, taxed on your worldwide income. With no treaty, that is the case to plan with a tax adviser in both countries.
If you want to live in your home most of the year, look at the rentista visa ($1,000 a month of permanent passive income, S/ 58.80 fee, 30 business days for an answer). Buying the home does not count for any visa.
If you rent the place while you're away, register any foreign guests or tenants with Migraciones, and get a RUC to pay the 5% on the rent.
Our methodology
This article answers what an American can buy in Peru, how the purchase works, what it costs, whether a bank will lend, and what you owe and file in Peru and in the US once you own a home there.
Peruvian rules come first from official texts: Article 71 of the Constitution, SUNARP, SAT Lima, SUNAT and Migraciones. Prices come from TuLugar listings (September 2026), rents from the Urbania index (July 2026) and mortgage rates from SBS averages reproduced by EximiaHaus (October 2026). We calculated the closing costs, the predial, the rent tax and the monthly payment ourselves.
US rules come from the IRS (treaty list, Form 8938, Form 1116, filing rules for citizens abroad) and FinCEN (FBAR). The 1% remittance tax is IRC section 4475, in force since January 1, 2026.
We checked these figures in October 2026. Sol amounts are converted at about 3.44 soles per US dollar (and 3.85 soles per euro), the SUNAT/SBS rate of October 22, 2026.
Where we had no direct figure, such as the number of Americans owning in Peru, building fees or lawyer fees, we did not make one up. This is general information, not tax advice: your own costs and filings will depend on the property, how you hold it, where you live and how long you stay.
Key sources used for this analysis include Peru's Constitution, SUNARP purchase guidance, SAT Lima on alcabala, EximiaHaus on notary and registry fees, SUNAT on non-residents, Migraciones on the signing permit, the IRS treaty list, the IRS comparison of Form 8938 and FBAR, IRS Form 1116 instructions and FinCEN on the FBAR.
