Peru foreign buyer real estate
Buying real estate in the United States as a Peruvian national or resident involves a distinct set of US legal, tax, and procedural considerations. Law Offices of SRIS, P.C., a US law firm founded in 1997, assists foreign buyers with the US-law side of the transaction—from structuring the purchase to complying with the Foreign Investment in Real Property Tax Act (FIRPTA) and navigating financing and title requirements. For Peru-law matters, the firm works with Martín Mayandía, Of Counsel, admitted to practice law in Peru (2009) and not admitted in any US state bar; that role is limited to Peru-law matters in collaboration with the US-admitted attorneys of the firm.
What a Peru Foreign Buyer Should Know About US Real Estate
US real estate law treats foreign buyers largely the same as domestic buyers for the purchase itself, but tax withholding, financing, and estate-planning rules differ significantly. A Peruvian buyer can acquire residential or commercial property in the United States without a visa or residency status. The transaction is governed by the law of the state where the property is located, and the buyer must comply with that state’s contract, disclosure, and recording requirements. The key US federal overlay is FIRPTA, which imposes a withholding obligation on the buyer when purchasing from a foreign seller, and may also affect the buyer’s own future sale. Additionally, the IRS requires a taxpayer identification number (ITIN) for foreign buyers who do not have a Social Security number, and the buyer must consider US estate tax exposure because nonresident aliens have a much lower estate tax exemption than US citizens.
Financing a US property as a Peruvian buyer can be more complex. Many US lenders require a larger down payment—often 30% to 50%—and may ask for proof of income and credit history that is verifiable in the US. Some buyers choose to pay cash or obtain financing from a private lender. The firm’s US-admitted attorneys can review purchase agreements, coordinate with title companies, and ensure that the buyer’s interests are protected under the applicable state law. For any Peruvian-law questions—such as the tax treatment of the investment in Peru, the repatriation of funds, or the validity of a Peruvian power of attorney used in the US—the firm engages Martín Mayandía, Of Counsel, admitted to practice law in Peru (2009) and not admitted in any US state bar, to provide the Peru-law analysis.
Frequently Asked Questions
Can a Peruvian citizen buy property in the United States?
Yes, a Peruvian citizen can purchase real estate in the United States without a visa or residency. US law does not restrict foreign ownership of real property, and the purchase process is the same as for a US citizen. The buyer must, however, comply with state-specific contract and disclosure laws, and may need to obtain an ITIN from the IRS for tax reporting. The firm’s US-admitted attorneys can guide the buyer through the transaction and coordinate with the title company and lender.
What is FIRPTA and how does it affect a Peruvian buyer?
FIRPTA is a US tax law that requires a buyer to withhold a portion of the purchase price when buying from a foreign seller, but it can also affect the buyer’s own future sale. Under 26 U.S.C. § 1445, if the seller is a foreign person, the buyer must generally withhold 15% of the amount realized and remit it to the IRS. For a Peruvian buyer purchasing from a US seller, FIRPTA withholding does not apply at the time of purchase, but when the buyer later sells the property, the buyer will be treated as a foreign seller and the same withholding rules will apply. The firm can advise on structuring the transaction to minimize tax exposure and ensure compliance.
Do I need a US taxpayer identification number to buy real estate?
Yes, a foreign buyer who does not have a Social Security number must obtain an Individual Taxpayer Identification Number (ITIN) from the IRS. The ITIN is used for tax reporting, including the FIRPTA withholding and any rental income. The application process requires submitting Form W-7 to the IRS, along with original or certified copies of identification documents. The firm can assist with the ITIN application and coordinate with the buyer’s Peruvian tax advisor for any cross-border tax planning.
How does US estate tax apply to a Peruvian buyer’s US real estate?
US estate tax applies to the US-situs assets of a nonresident alien, and the exemption is much lower than for US citizens. As of 2026, the estate tax exemption for nonresident aliens is $60,000, compared to over $13 million for US citizens. This means that if a Peruvian buyer dies owning US real estate, the value above $60,000 may be subject to US estate tax at rates up to 40%. Proper planning, such as holding the property through a foreign corporation or a trust, can mitigate this exposure. The firm’s US-admitted attorneys can discuss structuring options with the buyer and, where Peru-law issues arise, engage Martín Mayandía, Of Counsel, admitted to practice law in Peru (2009) and not admitted in any US state bar, for the Peru-law analysis.
What are the financing options for a Peruvian buyer?
Peruvian buyers can obtain financing from US lenders, but the requirements are often stricter than for US citizens. Many conventional lenders require a down payment of 30% to 50%, and may ask for two years of US tax returns or a credit history that is verifiable in the US. Some buyers choose to work with a private lender or pay cash. The firm can review loan documents and advise on the terms, but does not provide financing. For any Peruvian-law questions about the source of funds or currency exchange regulations, the firm engages its Peru Of Counsel.
Can I use a Peruvian power of attorney to sign US real estate documents?
A Peruvian power of attorney may be accepted in the US if it is properly authenticated, but the requirements vary by state. The firm can advise on the specific requirements of the state where the property is located and coordinate with the title company to ensure the power of attorney is accepted. For the validity of the power of attorney under Peruvian law, the firm engages Martín Mayandía, Of Counsel, admitted to practice law in Peru (2009) and not admitted in any US state bar.
What ongoing US tax obligations does a Peruvian buyer have after purchasing?
A Peruvian buyer who rents out the US property must file a US tax return and may be subject to withholding on rental income. The default rule is that the tenant or property manager must withhold 30% of the gross rent and remit it to the IRS, unless the buyer elects to treat the rental income as effectively connected with a US trade or business by filing a US tax return. The firm can advise on the election and coordinate with a US accountant. For any Peruvian tax implications, the buyer should consult a Peruvian tax advisor; the firm’s Peru Of Counsel can provide a referral.
How does the purchase process differ from buying property in Peru?
The US purchase process is generally more standardized and title-insurance driven than in Peru. In the US, a title company conducts a title search, issues a title insurance policy, and handles the closing and recording of the deed. The buyer typically signs a purchase contract, deposits earnest money, and has a due-diligence period for inspections. The process is governed by state law, and the firm’s US-admitted attorneys can represent the buyer throughout. For any comparison to Peruvian real estate law, the firm engages its Peru Of Counsel.
Can a Peruvian buyer obtain a US visa by purchasing real estate?
Purchasing real estate alone does not qualify a Peruvian national for a US visa or residency. The US does not have a “golden visa” program tied to real estate investment. However, a substantial investment in a US business that creates jobs may qualify for an E-2 treaty investor visa if Peru has a qualifying treaty, or an EB-5 immigrant investor visa. The firm’s US immigration attorneys can evaluate the buyer’s eligibility for an investment-based visa. For any Peru-law questions about the source of funds, the firm engages its Peru Of Counsel.
What should I bring to a consultation about buying US real estate?
Bring any existing purchase contract, proof of funds, and identification documents. The firm will need to understand the buyer’s goals, the location and type of property, and the intended use (personal residence, rental, or investment). If the buyer has a Peruvian tax advisor or attorney, the firm can coordinate with them. For a consultation, reach Law Offices of SRIS, P.C. at (888) 437-7747.
About Mr. Sris and the Of Counsel Network
Mr. Sris, Owner and Founder of Law Offices of SRIS, P.C., is admitted to practice law in Virginia, Maryland, the District of Columbia, New Jersey, and New York. He leads the firm’s US-substantive practice and serves as the responsible US attorney for sriscounsel.com content. For Peru-law matters, the firm works with Martín Mayandía, Of Counsel, admitted to practice law in Peru (2009) and not admitted in any US state bar; that role is limited to Peru-law matters in collaboration with the US-admitted attorneys of the firm. All US-law aspects are handled by Mr. Sris and the US-admitted attorneys of the firm.