Legal basis: your rights as a foreign buyer
Article 71 of Peru's Constitution is unambiguous: foreign nationals enjoy the same property ownership rights as Peruvian citizens. The only restriction concerns land within 50 km of international land borders. Lima is wholly outside this zone.
This means you need no special permit, no local co-buyer, no government approval. You can buy in your own name, hold title directly, and sell or rent the property as you see fit. Peru's openness to foreign property ownership is one of its most significant advantages for international investors.
Migration status when signing documents
If you are physically present in Peru at the time of signing (deposit agreement, minuta or Escritura Pública), your migration status may be relevant to the notary. Foreign nationals staying in Peru on a tourist visa or as students can in principle sign real estate documents, but some Peruvian notaries may require a special Migraciones permit to sign documents or contracts (gob.pe/12614), or supporting evidence of your entry status (TAM — Tarjeta Andina de Migración) or legal stay. Confirm the specific requirements with the chosen notary before the signing date, particularly if your stay is time-limited or if you are resident in Peru under a specific migration category.
Step 1: Property search and shortlisting
The main online property portals in Peru are Urbania and Adondevivir. Local real estate agents active in premium districts (Miraflores, San Isidro, Barranco) also maintain private listings not always published online.
When shortlisting properties, look beyond price per square metre. Assess the building's age and construction quality, the state of common areas, the sinking fund (fondo de mantenimiento) health, proximity to services, and floor/view premium. Newly built or recently renovated apartments command a premium but typically require less immediate maintenance.
If you cannot visit in person, a local representative with a formal power of attorney (poder notarial) can shortlist and inspect on your behalf. Buying without any in-person inspection is strongly discouraged.
Step 2: Title due diligence (Partida Registral)
Before signing anything or transferring any funds, verify the property's title through SUNARP (Superintendencia Nacional de los Registros Públicos). The Partida Registral is the official registry entry for the property. It tells you:
- The registered owner(s) and ownership history
- Any liens, mortgages or encumbrances on the property
- Any legal proceedings affecting the title
- The legal description and boundaries of the property
A property with a clean, unencumbered Partida Registral is a prerequisite for a safe transaction. A Peruvian lawyer should verify the Partida before you proceed. SUNARP certificates are publicly accessible and can be requested online at sunarp.gob.pe.
Additionally, verify that the seller's identity document (DNI for Peruvians, passport for foreigners) matches the registered owner exactly.
Swiss Lima Property guides you at every step
From property selection to coordinating with the Peruvian notary and lawyer, our bilingual team (French / English / Spanish) supports you through the Lima acquisition process from start to finish.
Step 3: Preliminary agreement (Minuta / Contrato de Arras)
Once due diligence is satisfactory, one or more preliminary agreements are typically signed. Three forms are common in Peru:
- Informal reservation: a simple written or verbal agreement, sometimes with a small symbolic payment, to take the property off the market. Provides limited legal protection and is not a substitute for a formal contract.
- Contrato de Arras (formal deposit agreement): the buyer pays a deposit (typically 10–20% of the purchase price). If the seller withdraws, they must return double the deposit. If the buyer withdraws, the deposit is forfeit. The exact terms must be clearly defined in the contract.
- Minuta de compraventa: a more detailed preliminary sale agreement, often prepared by the notary, setting out all transaction terms. It serves as the basis for the final Escritura Pública.
All preliminary agreements should be reviewed by your Peruvian lawyer before signing or transferring any funds.
Step 4: Tax identification with SUNAT (RUC)
Depending on the nature of the transaction, the parties involved, and the associated tax obligations (rental income, future resale, etc.), foreign buyers may need to register with SUNAT and obtain a RUC (Registro Único de Contribuyentes, Peru's taxpayer identification number). The specific requirements for non-resident foreigners should be confirmed directly with SUNAT, the chosen notary and a qualified Peruvian lawyer before proceeding.
RUC registration can typically be done in person at SUNAT offices in Lima, or in some cases via an authorised local accountant. Your passport is the primary identification document. This process should be initiated well in advance of the notarial deed signing.
Step 5: Transfer funds and complete the Escritura Pública
The formal transfer of ownership takes place before a Notario Público (Peruvian public notary) through the execution of the Escritura Pública de Compraventa. Both buyer and seller (or their authorised representatives via power of attorney) must be present.
At this stage:
- The full purchase price (less any deposit already paid) is transferred
- The Alcabala (municipal property transfer tax: 3% of the amount above ~10 UIT, paid by the buyer; first sales by a developer or constructor may be subject to a different treatment, verify with the notary)
- Notary fees are settled
- The Escritura is signed and notarised
Fund transfers from abroad require documentation of the source of funds (KYC/AML compliance). Peru's bancarization law (Ley N° 28194) requires that real estate transactions above a certain threshold be settled through formal banking channels — cash payments above the statutory limit are not permitted. Work with your bank well in advance to ensure international transfers are properly set up, and retain all documentation of the funds' origin to present to the notary and Peruvian bank if required.
Step 6: SUNARP registration
After the Escritura is notarised, the notary submits it to SUNARP for registration. Once registered, your name appears in the Partida Registral as the legal owner. This registration secures the enforceability of your ownership right against third parties, do not consider the transaction fully protected until you have received confirmation of registration.
SUNARP registration typically takes a few days to weeks. The notary manages this process. Until registration is complete, keep your copy of the Escritura safe.
Acquisition costs: what to budget
Plan for acquisition costs of approximately 4% to 7% of the purchase price, in addition to the property itself. The main components are:
- Alcabala (municipal transfer tax): 3% of the higher of the sale price or the cadastral appraisal value, above ~10 UIT (buyer pays); first-sale by developer may differ, verify with notary
- Notary fees: variable, typically 0.3%–1% of transaction value
- SUNARP registration fee: based on property value, typically a few hundred USD
- Legal fees (lawyer): variable; engaging a qualified Peruvian lawyer is strongly recommended
- Agent commission: typically 3%–5% of purchase price, often split between buyer and seller
- Bank transfer fees: international wire fees vary by bank and amount
Tax rates and thresholds change. Verify current figures with a Peruvian notary or lawyer before budgeting.
Documents required: buyer and seller
Documents to request from the seller
Before signing anything or transferring any funds, your lawyer should verify that the seller can provide the following:
- Previous title deed (Escritura Pública): the notarised deed by which the seller originally acquired the property
- Partida Registral / Copia Literal / CRI (Certificado Registral Inmobiliario): a recent SUNARP registry extract confirming the current owner, absence of encumbrances and the full ownership history
- HR and PU (Hoja de Resumen / Predio Urbano): municipal cadastral value documents for the property, required for calculating the Alcabala
- Proof of Impuesto Predial and Arbitrios payments: evidence that the seller is current on all municipal tax obligations
- Certificado de no adeudo municipal: issued by the municipality, confirming no outstanding debts to the local authority
- Seller's identity document: Peruvian DNI or valid passport, matching exactly the name registered in the Partida Registral
- Poder notarial + vigencia de poder if the seller acts through a representative: verify the power of attorney is valid and obtain the vigencia de poder certificate (notarial confirmation that the mandate is still in force)
- Seller's SUNAT fiscal document if applicable to the transaction
Documents required from the buyer
- Valid passport (original, in date)
- Proof of regular entry into Peru: TAM (Tarjeta Andina de Migración) or equivalent if you are physically present in Peru at signing
- Evidence of migration status if staying under a specific visa (tourist, student, etc.) and if the notary requires it — verify in advance with the chosen notary
- Special Migraciones permit to sign documents or contracts (gob.pe/12614): if you are physically present in Peru on a tourist or student visa at the time of signing, some notaries may require this separate permit — verify with the chosen notary well before the signing date
- SUNAT fiscal identification (RUC) if required depending on the transaction, the notary's requirements and associated tax obligations (confirm with the notary and a local lawyer)
- Source of funds documentation: documentation establishing the lawful origin of the purchase funds (bank statements, asset sale proceeds, etc.), required for KYC/AML compliance
- Bancarized payment means: international bank transfer or cheque de gerencia (certified bank cheque), in compliance with Peru's bancarization law
- Power of attorney (poder notarial) if purchasing remotely or through a representative: apostilled under the Hague Convention and translated into Spanish by a sworn translator
This list is indicative. Exact requirements vary by notary, property type, transaction value and your personal situation. Confirm the complete list with your Peruvian notary or lawyer before starting the process.
Post-purchase: management and tax obligations
Once the title is registered, you have the following ongoing obligations:
- Alta municipal (municipal registration): notify the relevant municipality of your new ownership within the legal timeframe after the acquisition. This step triggers the calculation of your future local tax obligations.
- Impuesto Predial (annual property tax): payable annually to the relevant municipality based on the cadastral value of the property.
- Arbitrios municipales (municipal service charges): annual charges covering local services (waste collection, green space maintenance, street lighting), paid to the municipality.
- Junta de propietarios (owners' association): if the property is in a condominium building, register with the owners' association and pay the corresponding maintenance charges.
- SUNAT rental income declaration: if you rent the property, declare rental income to SUNAT. For non-domiciled individuals, when the tenant is domiciled in Peru, rental income from real property is generally subject to a withholding rate of approximately 5% on gross income (PPHND regime); modalities differ if the tenant is not domiciled in Peru. Verify current rules with SUNAT and a qualified Peruvian accountant.
- Declaration in your country of residence: declare Peruvian-source income to your home tax authority as required by local law.
Engaging a local property manager is strongly recommended for non-resident owners. See our guide on property management in Lima for more detail.
Key takeaways
- Foreign nationals have full constitutional property rights in Lima (Art. 71).
- Always verify the Partida Registral at SUNARP before signing anything.
- If required for your transaction, confirm and obtain your SUNAT/RUC tax identification well in advance of the notarial deed.
- If physically present in Peru on a tourist or student visa when signing notarial documents, check with your notary whether a special Migraciones permit to sign documents is required (gob.pe/12614); arrange it well in advance of the signing date.
- Budget 4–7% in acquisition costs above the purchase price.
- An Escritura Pública signed before a notary, then registered at SUNARP, completes the transaction.
- Post-purchase obligations: alta municipal registration, annual Impuesto Predial and Arbitrios to the municipality, junta de propietarios if in a condo. If renting: SUNAT rental income declaration (~5% withholding on gross income when tenant is domiciled in Peru, PPHND regime; modalities differ if tenant is not domiciled in Peru — verify with a qualified accountant).