Are you looking to retire in a nice tropical coastal country? Or do you wish to go where your savings could go a long way? Maybe retiring to Peru is for you!
Here’s all you need to know about living and retiring in Peru:
- Is Peru a good country to live in?
- How much does it cost to retire in Peru?
- Can foreigners buy property in Peru?
- Is living in Peru safe?
- How expensive is food in Peru?
- How long can foreigners stay in Peru without a visa?
- What retirement visa available in Peru?
- What to do in Peru?
Have you considered these issues about retiring to Peru? Then before you begin your new life in Peru, read the following information!
Is Peru a good country to live in?
Peru is a South American country famous because of its access to the Amazon jungle and Machu Picchu. Machu Picchu is an ancient Incan city located high in the mountains. There is also the Incan Trail and the colonial city of Cusco are all rich in ancient sites. Lima is Peru’s capital and is situated on the arid coastline. The colonial buildings of the city are in stark contrast to the new holiday highrises. This gives a mix of the old with the new and means you can choose either to live in.
Religion, family, food, and music are all highly important components of daily life in Peru. This is all profoundly affected by the country’s deep history and cultural legacy. Peruvians are kind and welcoming people who, on the whole, are quite social and love a reason to have a fiesta.
How much does it cost to retire in Peru?
Peru is 57 percent cheaper on average than the United States, with real estate prices 75 percent lower. In comparison to the United States, food is quite cheap.
Here’s a list of some common bills you might encounter:
|Utilities (Electricity & Gas)||$55 USD / month|
|Petrol (1 Gallon / 3.8 L)||$1 USD|
|Internet||$30 USD / month|
|Rent – 3 bed / 2 bath / 2 car||$427 USD / month|
|Rent – studio apartment||$219 USD / month|
|Meal for 2 in an inexpensive restaurant||$6 USD|
|Hourly rate for cleaning help||$10 USD|
NOTE: These are the average monthly costs in Peru. You may spend a lot less if you are living outside the capital city and the famous coastal cities.
Can foreigners buy property in Peru?
Yes, you can. Foreigners have no limitations on buying property except you can not buy within roughly 30 miles or 50 kms of the border. You will also need a title search, notary fees, and deed registration which will cost around $1,500 USD to complete the purchase. The final legal requirement is that the Department of Immigration requires foreign buyers to get a real estate transaction permit which will cost you around $300 USD.
There are options for all budgets in Peru, whether you are buying or renting. If you’re looking for something really cheap, head over to Facebook Marketplace. From the drop-down menu, choose Peru or a specific city, then Property Rentals or House Sales. Remember that prices will be in Peru’s Sol or US dollars.
You will be working directly with the owners when looking for places to buy or rent. If you’re buying a home in any country, make sure you seek the necessary legal guidance first to ensure everything is in order. If you are renting make sure you have a contract in place as well.
It is always safer to go via a real estate agent for purchases or long-term leases, and I have included a few for you to consider below. They will inform you of any applicable local laws, fees, taxes and walk you through the procedure. Keep in mind that having a real estate agent does not mean you don’t also need to get legal advice.
Here are a few real estates agents you can consider:
TIP: Use the keywords “bienes raíces” or Inmobiliaria” if you are trying to find more real estate agents in Peru on google maps.
NOTE:Some of these sites are only available in Spanish. To see the website in English, turn on Google Chrome’s auto-translate option.
Is living in Peru safe?
In general, Peru is a safe country to retire. Lima and Arequipa are the two most popular places to live in. Pickpocketing and other petty crimes are all over the world in major tourist centers and it is all about just being aware when in big crowds.
Like I am very fond of saying don’t flaunt your wealth late at night in dark alleys and you will be fine. While Peru is very safe you should always check the local travel advice before travelling on your countries travel safety website.
USA State Department travel advice for Peru:
How Expensive is Food and Groceries in Peru?
Eating out is cheap in Peru with a decent local restaurant costing around 6 USD for two people. You may choose to make a meal at home on occasion, which means a trip to the supermarket or grocery store is unavoidable.
When searching on Google Maps, look for the terms Mercado, Supermercado, and Hipermercado. The grocery store size grows with each of these options and there is only one Hipermercado in Lima.
|Milk||1 Liter/ 1 Quart||$3.7 USD|
|Bread||1 Loaf||$3 USD|
|Beef Mince||1 Kg/ 2.2 Pounds||$5.6 USD|
|Chicken||1 Kg/ 2.2 Pounds||$3.4 USD|
|Wine||1 Liter||$11 USD|
Here are two common supermarket websites in Peru that you can look at for todays prices:
TIP: These websites are in Spanish so open them in Google Chrome and let the inbuilt translator do its job for you. The text in the images will not change but they have pictures so you will get the idea.
NOTE: These prices might vary depending on where you live, where you shop or your preferred brand. If you have already been to Peru or you can speak Spanish, it is better to go to the local market for cheaper prices on fresh fruit, vegetables and meats.
How Long Can Foreigners Stay in Peru Without A Visa?
Peru is a simple country to get into and tourist visas are not required for most countries in the Americas and Western Europe. Travellers can stay for a maximum of 183 days and you can do a visa run to refresh it. A visa run is where you leave the country for a few days to a week and then come back and get another 6 months essentially.
You can not work on this visa. It is mandatory to present a valid passport with a minimum validity of six months from the date of entry into the country when entering Peru. This is the same for any country that offers a 6 months tourist visa.
What Retirement Visa Available in Peru?
Depending on your country of origin the long term retirement or Rentista visa can be applied for at the Peruvian embassy in your country as well as for some in Peru itself. If you apply in a foreign country it will take longer as all the paperwork needs to go back to peru. What are they thinking in this digital age?
Here is what you will need to apply for this non-lucrative visa:
- Proof of $1000 USD income per month with a letter from your super fund, accountant or bank account records with your pension or income shown.
- Clear police check from your home country or wherever you lived for the last 5 years
- Sworn statement to say your money will come into Peru through the banking system
- Interpol Clearance
- Paid your application fee
- Provided proof of identity – usually just uploading a picture of your id page of your passport
TIP: If you want to know more about how can you get a retirement visa check this article How do I get a retirement visa in Peru?.
What to do in Peru
Peru is the fourth largest country in South America behind Brazil, Argentina and Columbia. It has a diverse range of landscapes including mountains, beaches, deserts and rainforests. The majority of the population lives along the Pacific Ocean coast where the capital Lima is located.
A thin stretch of desert runs 1,555 miles or 2,500 kilometres along Peru’s west coast. The coastal desert covers just approximately 10% of Peru’s land mass, but it is home to more than half of the countries population. The Amazon is the world’s largest rainforest and it covers approximately half of Peru. This massive rainforest, known as the selva in Spanish, takes up half of Brazil and is the habitat to many unique plants and fauna.
I think it is safe to say that you will never run out of things to do while you are retiring in Peru if you love the great outdoors. You can sunbathe and chill all day in the beautiful coastline towns. Or you can get out there to explore Peru’s many natural wonders. You can also educate yourself on the culture and art unique to Peru in the numerous museums and art exhibitions.
Here are a few things you can do during your day off in Peru: