Peru real estate lawyer
When a US person or entity acquires, sells, or manages real property in Peru, the transaction sits at the intersection of two legal systems. The US side involves tax reporting, entity structuring, and compliance with US laws that apply to foreign assets. The Peru side is governed by the Peruvian Civil Code, local property registries, and municipal regulations. Law Offices of SRIS, P.C. is a US law firm founded in 1997 that helps clients navigate the US-law dimensions of cross-border real estate matters. The firm collaborates with Martín Mayandía, Of Counsel, admitted to practice law in Peru (2009) and not admitted in any US state bar, for the Peru-law side. For a consultation on your cross-border real estate needs, reach the firm at (888) 437-7747.
What a Peru real estate lawyer handles on the US side
US clients with Peru real estate interests face a distinct set of US legal obligations that a US-licensed attorney can address. The purchase, holding, and sale of foreign real property trigger US tax reporting under the Internal Revenue Code, including potential obligations under the Foreign Investment in Real Property Tax Act (FIRPTA) when a US person disposes of foreign realty. Structuring the investment through a US entity—such as a limited liability company or a corporation—requires analysis of US entity classification rules and the US-Peru income tax treaty, if applicable. The firm advises on the US tax and reporting consequences of owning Peru real estate, including the requirement to file FinCEN Form 114 (FBAR) and IRS Form 8938 (Statement of Specified Foreign Financial Assets) when the property is held through a foreign account or entity.
Beyond tax, US clients often need to coordinate the US and Peru sides of a transaction. A US purchase agreement may need to be consistent with the Peruvian contrato de compraventa and the registration requirements of the Peruvian Public Registry. The firm works with Martín Mayandía, Of Counsel, to ensure that the US-law documents do not inadvertently conflict with Peruvian formalities. Mr. Mayandía is admitted to practice law in Peru (2009) and is not admitted in any US state bar; his 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.
How Mr. Sris and his Of Counsel network handle Peru real estate matters
Cross-border real estate work is divided by jurisdiction: the US-licensed attorney handles US law, and the Peru-licensed Of Counsel handles Peru law. Mr. Sris, the firm’s founder and managing attorney, is admitted in Virginia, Maryland, the District of Columbia, New Jersey, and New York. He oversees the US-side work, which may include drafting US-compliant purchase agreements, advising on FIRPTA withholding, structuring US holding entities, and preparing US tax filings. For the Peru-law side, the firm engages Martín Mayandía, Of Counsel, who is admitted to practice law in Peru (2009) and not admitted in any US state bar. Mr. Mayandía reviews the Peruvian property title, coordinates with the Peruvian notary and the Public Registry, and ensures that the transaction complies with Peruvian civil law and local municipal requirements.
This division of labor is not a referral; it is a coordinated engagement where the client retains both the US firm and the Peru Of Counsel under a single engagement letter that clearly delineates which attorney is responsible for which jurisdiction’s law. The firm does not practice Peru law, and Mr. Mayandía does not practice US law. The two sides collaborate as needed, but each attorney remains strictly within the bounds of their own licensure. This structure protects the client from the unauthorized practice of law and ensures that each legal system’s requirements are met by a qualified professional.
About Mr. Sris and the sriscounsel Of Counsel network
Mr. Sris, Owner and Founder of Law Offices of SRIS, P.C., has built a cross-border practice that serves international clients with US legal needs. Admitted in Virginia, Maryland, the District of Columbia, New Jersey, and New York, he is a former prosecutor who testified before the Virginia House Courts of Justice Committee in support of 2019 HB 635 (chief patron Del. David Bulova), the bill that became the 2019 revision to Va. Code § 20-107.3(g). His practice includes US real estate transactions, tax planning for foreign assets, and entity formation for cross-border investments.
The firm’s Of Counsel network includes attorneys licensed in foreign jurisdictions who collaborate on matters involving foreign law. For Peru real estate matters, the firm works with Martín Mayandía, Of Counsel, admitted to practice law in Peru (2009) and not admitted in any US state bar. Mr. Mayandía’s role is limited to Peru-law matters in collaboration with the US-admitted attorneys of the firm. The firm has no employees; all non-Sris attorneys are Of Counsel and are not partners or associates.
Frequently asked questions
Do I need both a US lawyer and a Peru lawyer for a Peru real estate purchase?
Yes, a cross-border real estate transaction typically requires counsel licensed in each jurisdiction. The US lawyer handles US tax reporting, entity structuring, and compliance with US laws that apply to foreign assets. The Peru lawyer handles the Peruvian purchase agreement, title review, notarial formalities, and registration with the Peruvian Public Registry. Law Offices of SRIS, P.C. provides the US-side counsel, and the firm engages Martín Mayandía, Of Counsel, for the Peru-side work. Mr. Mayandía is admitted to practice law in Peru (2009) and is not admitted in any US state bar; his role is limited to Peru-law matters in collaboration with the US-admitted attorneys of the firm.
What US tax forms do I need to file when I own Peru real estate?
US persons who own foreign real property may need to file several IRS forms. If the property is held through a foreign entity or a foreign bank account, you may be required to file FinCEN Form 114 (FBAR) and IRS Form 8938 (Statement of Specified Foreign Financial Assets). When you sell the property, the transaction may be subject to FIRPTA reporting. The specific forms depend on how the property is held and the value of the asset. The firm advises on these obligations and prepares the necessary US filings. For guidance on your specific situation, reach Law Offices of SRIS, P.C. at (888) 437-7747.
Can a US LLC own real estate in Peru?
A US limited liability company can own real estate in Peru, but the structure must be reviewed under both US and Peruvian law. From the US perspective, the LLC’s classification as a partnership or corporation for tax purposes affects how income and gains are reported. From the Peruvian perspective, the LLC must be registered with the Peruvian tax authority and comply with local property-holding rules. The firm works with Martín Mayandía, Of Counsel, to coordinate the US and Peruvian aspects of the structure. Mr. Mayandía is admitted to practice law in Peru (2009) and is not admitted in any US state bar; his role is limited to Peru-law matters in collaboration with the US-admitted attorneys of the firm.
What is FIRPTA and does it apply to Peru real estate?
The Foreign Investment in Real Property Tax Act (FIRPTA) is a US tax law that can apply when a US person disposes of foreign real property. Under FIRPTA, a US person who sells foreign realty may be required to recognize gain or loss for US tax purposes, and the buyer may have withholding obligations if the seller is a foreign person. The application of FIRPTA depends on the seller’s status and the structure of the transaction. The firm advises US clients on FIRPTA compliance and coordinates with the Peru-side counsel to ensure that the transaction is reported correctly on both sides.
How do I transfer title to Peru real estate after a US divorce or inheritance?
Transferring Peru real estate as part of a US divorce or probate proceeding requires coordination between the US court order and the Peruvian property registry. The US court’s judgment or order must be recognized in Peru, which may involve an exequatur proceeding before the Peruvian judiciary. The firm handles the US-side aspects, including drafting the property settlement agreement or the probate documents, and works with Martín Mayandía, Of Counsel, on the Peruvian recognition and registration. Mr. Mayandía is admitted to practice law in Peru (2009) and is not admitted in any US state bar; his role is limited to Peru-law matters in collaboration with the US-admitted attorneys of the firm.
What should I bring to a consultation about Peru real estate?
For an initial consultation, gather any documents related to the property and your US tax situation. Useful items include the Peruvian property title or escritura pública, the most recent Peruvian tax receipt (autovalúo), any existing purchase agreement, and your prior US tax returns. If the property is held through an entity, bring the entity’s formation documents and operating agreement. The firm will review the US-side issues and coordinate with Martín Mayandía, Of Counsel, on the Peru-side documents. To schedule a consultation, contact Law Offices of SRIS, P.C. at (888) 437-7747.