Why the transfer is a critical step
In a domestic property purchase, buyer and seller are in the same country, banks know each other and a transfer arrives within hours. In a cross-border Switzerland–Peru transaction, the situation is different:
- The payment passes through multiple borders and correspondent banks;
- The Peruvian notary will require the funds to be verifiably received before — or on the day of — the signing of the escritura pública;
- Swiss and Peruvian banks apply anti-money-laundering compliance procedures that can delay or block a transfer that is poorly documented;
- The CHF/USD or CHF/PEN exchange rate is a variable to manage, affecting the real cost of your investment.
Planning these steps several weeks in advance avoids last-minute complications close to signing day.
Choosing your currency: CHF, USD or PEN?
The first practical decision is which currency to transfer. Real estate in Lima is typically priced in USD — the US dollar is the reference currency for property transactions in Lima.
Option 1: Transfer in CHF, convert in Peru
You wire CHF to a Peruvian account (in PEN or USD). The Peruvian bank performs the conversion. The rate is often less competitive than what you can obtain in Switzerland, but the process is simple.
Option 2: Convert CHF→USD in Switzerland, then wire USD
You first convert your CHF to USD at your Swiss bank (or through a specialist like Wise), then send a SWIFT USD wire to Peru. This is often the most transparent and cost-competitive option.
Option 3: Wire to your own USD account in Peru
If you have opened a Peruvian bank account in USD (BCP, BBVA Perú, Interbank…), you can fund it directly and make local payments from there. This requires completing the account-opening process in advance.
Indicative reference rates (June 2026):
- CHF/USD: 1 CHF ≈ USD 1.10–1.12 (source: SNB)
- USD/PEN: 1 USD ≈ PEN 3.70–3.75 (source: BCRP)
- CHF/PEN (calculated): 1 CHF ≈ PEN 4.08–4.20
These rates fluctuate daily. On a USD 120,000 purchase, a 1% difference in the CHF/USD rate represents roughly CHF 1,100 — a meaningful amount.
The banking circuit: Switzerland → Peru
A SWIFT wire between a Swiss bank and a Peruvian bank most often passes through a US correspondent bank (Citibank, JPMorgan Chase, Bank of New York Mellon), since few Swiss banks have direct relationships with Peruvian institutions.
The standard circuit is therefore:
- Swiss bank (e.g. UBS, BCV, PostFinance, BCGE) → SWIFT instruction
- US correspondent bank (USD clearing)
- Peruvian recipient bank (BCP, BBVA Perú, Interbank, Scotiabank Perú)
To initiate the wire, you will need the exact SWIFT coordinates of the seller's or notary's Peruvian bank. Ask your seller or Peruvian lawyer for confirmed banking details.
Always verify banking details through an independent channel
BEC fraud (Business Email Compromise) — where attackers intercept emails and substitute fraudulent bank account details — is a real risk in international property transactions. Always confirm IBAN/SWIFT details by direct phone call, never by email alone.
Fees and costs to budget for
An international SWIFT transfer involves fees at several levels. The SHA (Shared) option is the most common: your Swiss bank's fees are charged to you, and the recipient bank's fees are charged to the beneficiary.
| Fee type | Indicative range | Charged to |
|---|---|---|
| International wire fee (Swiss bank) | CHF 20–60 | Buyer |
| CHF→USD conversion spread | 0.5–1.5% of converted amount | Buyer |
| Correspondent (intermediary) bank fee | USD 10–30 | Variable (often buyer) |
| Peruvian recipient bank reception fee | 0.15–0.25% (often capped) | Seller / negotiable |
| ITF (Impuesto a las Transacciones Financieras) | 0.005% of transaction | Charged in Peru |
For a USD 120,000 purchase, total transfer costs (excluding the cost of currency conversion) typically range between USD 200 and USD 600, depending on the institutions involved and the conversion method chosen. The currency conversion spread is often the most significant cost component.
Alternatives to traditional banks
Platforms such as Wise (formerly TransferWise) or Revolut offer exchange rates close to the interbank rate with transparent fixed fees. For larger property amounts (> USD 50,000), check the daily and monthly transfer limits of these platforms and confirm that they can provide the compliance documentation a Peruvian notary will require as proof of payment.
Timing and synchronising with the signing
A standard SWIFT wire takes 2 to 5 business days between a Swiss bank and a Peruvian bank. Some banks process faster depending on their correspondent relationships, but do not count on express delivery.
For the Peruvian notarial signing, the notary generally requires that funds be demonstrably received and identified in the seller's account or a designated third-party account before proceeding with the escritura pública. The ideal timeline:
- Day – 15: contact your Swiss bank to prepare source-of-funds documentation;
- Day – 10: initiate the wire, with a safety margin for processing delays;
- Day – 5: confirm with the Peruvian bank that funds have been received and that the payment reference matches what the notary expects;
- Day 0: sign the escritura pública.
Never sign a notarial deed under pressure from an unconfirmed wire. Postponing the signing date by a few days is always preferable to signing without certainty that funds are available.
Compliance: documenting the source of funds
Both Switzerland and Peru require the source of funds to be documented. This is not arbitrary bureaucracy: it is a legal anti-money-laundering obligation in both jurisdictions.
Swiss side: the AMLA (Anti-Money Laundering Act)
Swiss banks are subject to the AMLA (Federal Act on Combating Money Laundering and Terrorist Financing), supervised by FINMA. For a significant international wire, your bank may request:
- The destination and purpose of the transfer (real estate purchase, with property address);
- The beneficiary's identity (seller or notary);
- Source-of-funds documentation: payslips, bank statements, a previous property sale deed, inheritance certificate, etc.
Prepare this file in advance. An unanticipated documentation request can hold up your wire for several days.
Peruvian side: bancarización (Ley 28194)
Peruvian law 28194 requires that any transaction above S/ 500 pass through the official financial system — this is bancarización. For a real estate purchase, payment must go through identifiable bank accounts. Cash payments for significant amounts are not only inadvisable: they are illegal and expose both buyer and seller to penalties.
The Peruvian recipient bank may also request documentation if the amount received is unusual (report to UIF-Perú, the Financial Intelligence Unit, above certain thresholds). Your Peruvian lawyer will advise whether a prior declaration is needed in your situation.
Documents to keep
For your Swiss tax return and any future Peruvian procedure (SUNAT, notary, resale), assemble and archive the following:
- SWIFT wire instruction: screenshot or paper confirmation of each transfer initiated at your Swiss bank, with date, amount, reference, beneficiary and IBAN/SWIFT;
- Credit confirmation: credit advice issued by the Peruvian recipient bank, with value date;
- Source-of-funds documents: payslips, bank statements, previous asset sale deed, notarised inheritance certificate — any document proving the funds come from a legal source;
- Exchange rate records: your bank's (or Wise/Revolut's) rate confirmation, useful for calculating the CHF cost of your investment;
- Correspondence with the Peruvian notary: emails or letters confirming receipt and identification of funds before signing;
- Copy of the escritura pública: the notarial deed of sale, linking the payment to the property transaction.
Keep these documents for at least 10 years — the applicable statute of limitations under Swiss tax law for foreign assets. Scan them and back up securely.
Coordinate the transfer before the signing date
The golden rule: never wait until the day before. Initiate your wire at least 10 business days before the signing date, and confirm receipt 5 days prior. Swiss Lima Property coordinates this verification with the Peruvian notary so nothing blocks the transaction on the day.
Swiss Lima Property's role
Swiss Lima Property is not a bank, a financial institution or a tax adviser. Our role in the financial side of your purchase is that of a practical coordinator.
We can help you:
- Obtain the exact banking details of the notary or seller (Peruvian IBAN, SWIFT code, payment reference), so your wire arrives without ambiguity;
- Confirm receipt of funds on the Peruvian side, in coordination with the notary and lawyer, before you sign anything;
- Alert you to realistic timelines given the planned signing date, to avoid any gap between funds arriving and the notarial appointment;
- Connect you with the right partners: Swiss tax adviser for your declaration, Swiss bank for compliance, Peruvian lawyer for fund receipt and notary liaison.
To learn more about our full service: About Swiss Lima Property.