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Peru implements new residence regulations for nationals of Mercosur and Andean Community Member States
On 23 October 2023, Peru implemented regulations that provide nationals of Andean Community Member States a new pathway for acquiring temporary and permanent residence and allow individuals to apply for Mercosur temporary residence visas in their home country. Pursuant to the new regulations, nationals of Andean Community Member States may now (i) apply, for the first time, for a two-year Andean Community Temporary Residence Visa — based solely on their nationality — from their country of citizenship or residence or after arrival in Peru; (ii) apply for an Andean Community Permanent Residence Visa starting 90 days prior to the expiry of their two-year Andean Community Temporary Residence Visa; and (iii) obtain an extension of their stay as tourist visitors for up to 90 days and remain for up to 180 days cumulatively per calendar year. Previously, extensions of stay were not permitted.
A Tax Alert prepared by EY's People Advisory Services group, and attached below, provides additional details.