Peru rentista visa 2026: the US$1,000 permanent income requirement, single or married, and how a life annuity qualifies
Written by Hans Goldstein, licensed insurance agent · CA 4273294Short answer: Peru’s rentista residence requires a pension or permanent income from abroad of at least US$1,000 a month, net (Migraciones procedure page; Decreto Legislativo 1350, art. 29.2(l)), and the residence is indefinite. Migraciones publishes no extra amount for a spouse or dependents, so plan the full figure in the applicant’s name and confirm the family filing. A life-only annuity bought while you still live in the US is a permanent income in the plain sense: at 62, about $152,000 to $172,000 of premium buys $1,000 a month for life (illustrative, September 2026 rates).
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The Peru rentista visa requirement in 2026
Peru’s retirement route is the rentista residence. Peru’s Migration Law (Decreto Legislativo 1350, art. 29.2(l)) defines it in three lines: it “allows residence to a foreigner who receives a retirement pension or permanent income (renta permanente) from a Peruvian or foreign source,” it is granted by Migraciones, and “the period of stay is indefinite.” The amount sits in the regulation, and Migraciones publishes it on its official procedure page (gob.pe, last updated June 17, 2024):
- For income from abroad: a document from the country the income comes from showing that you receive a “minimum permanent net income of US$1,000.00 a month” (ingreso neto permanente mínimo).
- A sworn statement that the money enters Peru through a bank or financial institution supervised by Peru’s banking and insurance regulator (SBS).
- No police, criminal or judicial record for the last five years, a valid passport, and the application form. Migraciones says you must be outside Peru when the residence is granted, the fee is S/58.80, and the stated processing time is 30 working days.
| Item | Requirement | Source |
|---|---|---|
| Who qualifies | Receives a retirement pension or permanent income, Peruvian or foreign | DL 1350 art. 29.2(l) |
| Foreign-source amount | US$1,000 a month, net, permanent | Migraciones procedure, gob.pe |
| How the money arrives | Through an SBS-supervised bank or financial institution | Same |
| Permit length | Indefinite | DL 1350 art. 29.2(l) |
| Age | No minimum age in the rule | DL 1350, Migraciones procedure |
Two words do the work: permanente and neto. Permanent means income that does not run out, which is exactly what a life annuity is. Net means the figure after deductions, which matters once US withholding starts (more below).
Single or married: how much income you need for the Peru rentista visa
| Household | Monthly income (USD) | Who must receive it |
|---|---|---|
| Single applicant | US$1,000 net, permanent | The applicant |
| Married couple | The Migraciones procedure publishes no extra amount for a spouse | The rentista; the spouse normally applies as a family member of a resident |
| Each dependent | No per-dependent amount on the Migraciones page | Confirm with Migraciones before you size the income |
Some websites quote an extra amount per dependent. It is not on the current Migraciones procedure page, so I do not rely on it. Plan the full US$1,000 net in the applicant’s own name, add headroom, and confirm the family filing with Migraciones or a Peruvian immigration lawyer.
When only one spouse has the income
The spouse with the pension or annuity files as the rentista. If that spouse’s Social Security or pension is short, a lifetime annuity on that spouse’s life, owned by that spouse, fills the gap. A joint and survivor annuity keeps paying the other spouse after the first death, which protects the family if the rentista dies first.
US gift note (general information, confirm with a tax adviser): if the premium comes from the other spouse’s money, moving it into an annuity owned by the applicant spouse is a gift between spouses. Between two US-citizen spouses, gifts are unlimited under the marital deduction. If the receiving spouse is not a US citizen, the 2026 annual exclusion is $194,000 (Rev. Proc. 2025-32); above that you file Form 709, and tax is generally not due because the excess uses part of the lifetime exemption.
Does a US annuity count as a Peru “renta permanente”?
The law covers a pension or a permanent income from any foreign source; it does not limit it to government pensions. A life-only annuity from a US insurer pays every month for as long as you live, so it is a permanent income in the plain sense of the words, and the insurer can issue the document Migraciones asks for: a statement of the monthly amount from the country the income comes from. Migraciones has not published anything naming purchased annuities, so have a Peruvian lawyer review the insurer’s letter before you file.
Which annuity counts
What fits: a life-only SPIA, a life with cash refund SPIA, a joint and survivor SPIA, or an existing deferred annuity or MYGA converted to lifetime payments. What does not fit “permanent”: a period-certain annuity that stops after 10 or 20 years, an income rider (GLWB) where an account value can still be cashed out, or a deferred annuity still accumulating. Those read as savings, not permanent income. Peru does not offer the rentista route on savings alone.
Why I write about this. My mom is Norwegian, my dad is American, and they’re planning the move from the US to Norway. My mom is the sponsor (the host, or “reference person” in UDI’s words), so Norway’s income test falls on her income, not my dad’s. UDI told us in writing that money in an account does not count as income, and only lifelong income does. Their savings were not the problem; the paperwork wanted a monthly number in the host’s name. The rules in Peru are different, but the problem is the same one many retirees hit: the income test, not the net worth. I’m writing this to help others in the same boat as my parents. Read how we worked through the Norway income requirement.
In the same boat? Let’s run your numbers
See roughly what a lifetime annuity would cost to close your income gap, then get my personal read by email. I can help while you still live in the US.
Estimates use the September 9, 2026 ImmediateAnnuities.com payout survey (life only) and a 15% cushion. Illustrative, not a quote.
Example: a 62-year-old American moving to Peru
Premium = monthly target / payout per $100,000 x $100,000. At 62 the ImmediateAnnuities.com survey of September 9, 2026 (life-only, per $100,000 a month) averages $603 for a man and $582 for a woman; the best quotes were $660 and $637. Rounded to the nearest $1,000. Illustrative, not a quote.
| Household, age 62 | Monthly target | Premium, average rate | Premium, best rate |
|---|---|---|---|
| Single man | $1,000 | $166,000 | $152,000 |
| Single woman | $1,000 | $172,000 | $157,000 |
| Man, 15% gross-up so the net clears $1,000 | $1,150 | $191,000 | $174,000 |
| Woman, 15% gross-up | $1,150 | $198,000 | $181,000 |
Social Security changes the math. It can start at 62, and Peru counts a retirement pension from any country, so a retiree whose own benefit clears US$1,000 net may not need an annuity at all. The annuity is for people who retire before claiming, who delay Social Security toward 70 for the bigger check, or whose benefit falls short: a $700 benefit leaves a $300 gap, about $50,000 of premium for a 62-year-old man at the average rate.
Because Migraciones asks for a net figure, size the gross payment so that what lands after US withholding still clears US$1,000. For a couple, a joint and survivor annuity pays less per dollar than single life, so the premium runs above the table; get a quote for both.
How to set it up
- Buy while you still have a US address. US insurers generally will not issue a new contract to someone already living abroad.
- Choose lifetime wording, no commutation or cash-out rider. The insurer’s letter should say the payment continues for the lifetime of the annuitant.
- Keep a US bank account, then route the money into Peru through an SBS-supervised bank. Migraciones wants a sworn statement that the income enters Peru through a supervised institution. A US account does not change withholding: a US citizen with a foreign residence address cannot opt out of federal withholding, even if payments go to a US account. Withholding is a prepayment, not extra tax.
- Start payments 3 to 12 months before you apply. A run of deposits makes the “permanent” income easy to see.
- Collect the documents: the insurer’s letter (amount, lifetime, net of withholding if possible), your Social Security or pension letter if you combine sources, background checks, and translations. Ask your lawyer about apostille and Spanish translation.
- File online with Migraciones through its Agencia Digital, from outside Peru as the procedure requires, or through a Peruvian consulate where offered.
How the annuity is taxed: Peru and the US
The US side (the same wherever you live)
As a US citizen you stay taxable on worldwide income wherever you live. A US single premium immediate annuity bought with after-tax savings is taxed under IRC 72: an exclusion ratio makes part of each payment a non-taxable return of your premium until the premium is recovered. If you bought it with IRA money, every payment is taxable. The foreign earned income exclusion does not cover annuities (IRC 911(b)(1)(B)(i)). Foreign tax on the payments can generally be credited on Form 1116. Since January 1, 2026, a US citizen with a foreign residence address cannot opt out of federal withholding, even if payments go to a US account (IRC 3405(e)(13), Treas. Reg. 31.3405(e)-1). Withholding is a prepayment, not extra tax. An annuity from a US insurer is not reported on FBAR or Form 8938, and it is not a PFIC. See the exclusion ratio for Americans abroad and the exclusion ratio calculator.
Is there a US tax treaty with Peru?
No. Peru is not on the IRS list of United States income tax treaties (checked October 2026). So no treaty article decides which country taxes an annuity first, and there is no saving clause or re-sourcing rule: each country applies its own law, and the only relief from double tax is a foreign tax credit. The IRS notes that the US credit can only reduce US tax on foreign-source income, and the taxable part of a US insurer’s annuity is generally US-source, so without a treaty a foreign tax on it is hard to credit on your US return. So any relief has to come from Peru’s side. Peru’s income tax law provides a credit for income tax paid abroad on foreign-source income, with a cap; ask a Peruvian accountant how it applies to the US tax withheld on your annuity.
The Peru side
Peru taxes domiciled individuals on worldwide income (PwC, reviewed July 2026). Foreign-source income is added to work income and taxed on the same progressive scale: 8%, 14%, 17%, 20% and 30%, by bands of tax units. One tax unit (UIT) is S/5,500 in 2026, and the first seven UIT (S/38,500) of that combined income are exempt. Peru’s tax authority has not published how a purchased US life annuity is split between return of premium and income; without guidance, assume the whole payment may be taxable and get a Peruvian accountant’s written view.
Net result
At US$1,000 to US$1,500 a month, much of the income falls in the exempt band and the lower brackets, so Peruvian tax on a modest annuity is often small, and the Peruvian credit for US tax can offset part of it. On larger incomes Peru’s rates can exceed the US tax on the taxable part of the payment. Net: roughly neutral for a rentista-sized annuity, and drawing down savings would also be taxable foreign-source income in Peru.
Does Peru have a wealth tax?
No national net wealth tax: PwC’s Peru summary lists real estate property tax among individual taxes and no net wealth tax. Municipalities charge the property tax on Peruvian real estate. Confirm your own position with a Peruvian tax adviser, but an annuity in payout is not property-taxed.
The trade-offs, once
A SPIA is irrevocable: you trade a lump sum for income you cannot cash out. Payments are level unless you add a cost-of-living rider, so their buying power falls over time. Payouts are lower at younger ages, so a 62-year-old pays more for the same monthly income than a 70-year-old. The income is backed by the issuing insurer’s claims-paying ability. For most people the answer is to size the annuity to the requirement plus some headroom and keep the rest of the portfolio working. Peru decides every application on its own merits; a well-documented lifetime income makes the file strong, but no one can promise approval.
Married? Make the income outlive either of you. In Peru the main applicant shows the income and the spouse joins as a family member, so the annuity sits with the main applicant. If a single-life annuity is on one spouse and that spouse dies first, the payments stop, and the surviving spouse may have to show income of their own at the next renewal. A joint and survivor annuity, which keeps paying until the second death, or a separate annuity on each spouse closes that gap. Joint and survivor pays less per dollar than single life, so ask for both quotes and compare.
Frequently asked questions
Free annuity gap analysis for Peru. Tell me your ages, your Social Security or pension, and whether you are single or a couple. I will show how far your income is from the Peru requirement and what a lifetime annuity would cost to fill the gap, in the sponsor’s or main applicant’s name where that matters.
Related reading
- Moving abroad on a fixed income: hub
- Retirement visa income requirements compared
- Using an annuity to meet a visa income requirement
- Ecuador retirement visa income requirement
- Colombia pension visa
- Panama pensionado visa
- Immediate annuity calculator
Sources
- Migraciones (gob.pe): Solicitar calidad migratoria para rentista residente
- Decreto Legislativo 1350, Ley de Migraciones, art. 29.2(l)
- PwC Worldwide Tax Summaries: Peru, taxes on personal income
- PwC Worldwide Tax Summaries: Peru, other taxes
- IRS: United States income tax treaties, A to Z
- IRS Publication 514: foreign tax credit limited to US tax on foreign-source income
- IRS: 2026 inflation adjustments, including the gift exclusion for a non-citizen spouse (Rev. Proc. 2025-32)
- 26 U.S.C. 3405 (withholding on pensions and annuities)
- ImmediateAnnuities.com: immediate annuity rates by age (survey of September 9, 2026)
Goldstein & Co. LLC dba Goldstein Insurance Services · Hans Goldstein, licensed insurance agent, CA lic. #4273294 · NPN 20602398 · 213-414-2808 · hans@hansgoldstein.com
Education, not tax, legal or immigration advice. Rules, thresholds and exchange rates change; confirm with the consulate or immigration authority and a local tax adviser before you act, and get answers in writing. Hans Goldstein is a licensed insurance agent (CA 4273294) and can only offer annuities to residents of states where he is licensed. Annuity payments are guaranteed by the issuing insurer’s claims-paying ability, not by any government. Payout figures are illustrations from a published survey, not quotes. Immediate annuities are generally irrevocable.