Countries › Peru › Guide › 10. Capital markets and finance › Leasing and factoring in Peru: financial leasing under Decreto Legislativo 299, lessor licensing and lessee protections, the negotiable invoice as a transferable title, the 8 day acceptance rule and factoring companies

Leasing and factoring in Peru: financial leasing under Decreto Legislativo 299, lessor licensing and lessee protections, the negotiable invoice as a transferable title, the 8 day acceptance rule and factoring companies

Last verified: 2026-10-28 · Status: Stable

Financial leasing in Peru is a commercial contract under Decreto Legislativo 299 of 1984 in which a lessor finances an asset for the lessee's use against periodic instalments with a purchase option valid for the whole term; a lessor domiciled in Peru must be a bank, finance company or other SBS authorized firm, such as a leasing company with base capital of S/ 2,440,000. Since 2020 the contract can be signed in any physical or electronic form, registration is optional, it is an enforceable title, leased assets cannot be attached for either party's debts, and the lessor can demand return of the asset before a justice of the peace or a notary. For receivables finance, every invoice carries a negotiable invoice copy or electronic record that is a transferable title; if the buyer does not object within 8 calendar days the invoice is irrevocably accepted, clauses banning its transfer are void, and the buyer must pay whoever the holder notifies.

USD figures use S/ 3.452 per US dollar, the banking system selling rate published by the Superintendencia de Banca, Seguros y AFP for 27 October 2026 as shown in the Banco Central de Reserva del Perú statistics series PD04640PD. Amounts the law sets in soles, UIT or dollars are quoted as written; the 2026 UIT is S/ 5,500 under Decreto Supremo Nº 301-2025-EF. Conversions are for orientation only.

Key facts

Domestic lessor must be an SBS supervised firm	Yes textDL 299 art. 2, as of 1984-07-26 · in force
Registration of leasing contract required	No, optional textDL 299 art. 8 as amended, as of 2020-01-23 · in force
Leased assets attachable for parties debts	No textDL 299 art. 11, as of 2020-01-23 · in force
Leasing company minimum capital (base, indexed)	2440000 PENLey 26702 art. 16 B, as of 2007-01-27 · in force
Factoring company minimum capital (base, indexed)	1356000 PENLey 26702 art. 16 B, as of 2007-01-27 · in force
Buyer period to object to negotiable invoice	8 calendar daysLey 29623 art. 7, as of 2020-01-23 · in force
Clauses barring transfer of negotiable invoices	Void textLey 29623 art. 2, as of 2020-01-23 · in force

The rule

1. Financial leasing is the commercial contract whose object is the lease of movable or immovable assets by a lessor for use by the lessee, against periodic instalments and with an option for the lessee to buy the assets for an agreed value. A lessor domiciled in Peru must be a bank, a finance company or another firm authorized by the SBS. The lessor keeps ownership until the option is exercised, the lessee chooses the assets and supplier and bears defects claims against the supplier, and assets must be insured, with the lessee liable to third parties while the asset is in its possession.
Cost to do it: A leasing company needs base capital of S/ 2,440,000 (US$706,837), indexed quarterly; banks lease within their license.
Example: A mining contractor leases ten trucks from a Peruvian bank for 48 months with a purchase option at the end. / A foreign lessor without an SBS license cannot act as lessor domiciled in Peru; it can lease cross border or through a licensed local lessor.Decreto Legislativo Nº 299 (dated 26 July 1984), art. 1, art. 2, art. 4 and art. 5; art. 6 as amended by Decreto de Urgencia Nº 013-2020, Art. 1, art. 2, art. 4, art. 5 and art. 6, 1984-07-26 official text · verified 2026-10-28

2. The term is set by the parties, who may agree penalties; the purchase option is valid for the whole term and may be exercised at any time up to expiry, but may not take effect before the agreed date, and it is not subject to general civil law time limits. Parties may agree that the lessee instructs the lessor to exercise the option on its behalf, and once all instalments and the option price are paid the lessor transfers ownership, by public instrument for vehicles and other registered assets.
Cost to do it: Notarial cost for transfer of registered assets at the end.
Example: A lessee that has paid all instalments and the S/ 3,452 option price on a car receives title by public instrument. / Options of a nominal US$1,000 at the end of a five year equipment lease are common and enforceable.Decreto Legislativo Nº 299, art. 7 as amended by Decreto de Urgencia Nº 013-2020 (El Peruano 23 January 2020), Art. 7, 2020-01-23 official text · verified 2026-10-28

3. The lease may be formalized in any physical, digital or electronic medium evidencing the parties' will with due authentication, by public deed, legalized signatures, digital or handwritten signatures, and registration in the relevant SUNARP registry is optional. The contract is an enforceable title, and enforcement, including realization of guarantees and recovery of assets after termination, follows executive proceedings under the Civil Procedure Code. Two or more consecutive unpaid instalments or a delay of more than two months allow the lessor to terminate.
Cost to do it: No mandatory notary or registry cost.
Example: A lessor signs a lease of medical equipment with digital signatures and can enforce it directly as an executive title. / A lessee missing two monthly instalments on a US$300,000 equipment lease can face termination and recovery.Decreto Legislativo Nº 299, art. 8 and art. 10 as amended by Decreto de Urgencia Nº 013-2020 (El Peruano 23 January 2020); art. 9, Art. 8, art. 9 and art. 10, 2020-01-23 official text · verified 2026-10-28

4. Leased assets cannot be attached, seized or encumbered by administrative or judicial order against either the lessee or the lessor, and the judge or authority must lift any such measure on presentation of the lease contract. An action to annul a lease made in fraud of creditors lapses 30 calendar days after the lessor registers the contract in the Ministry of Production's online module, which must happen within 3 calendar days of signing. The lessor may demand immediate return of the asset when the lessee incurs a termination cause, before a justice of the peace or a notary of its choice in the province of its domicile.
Cost to do it: Registration in the Ministry of Production module within 3 days; notary or court fees for restitution.
Example: A creditor of the lessee cannot seize a leased excavator; the lessor gets the attachment lifted by showing the contract. / Lessors should register each contract in the Ministry of Production module within 3 days to start the 30 day fraud challenge clock.Decreto Legislativo Nº 299, art. 11 and art. 12 as amended by Decreto de Urgencia Nº 013-2020 (El Peruano 23 January 2020), Art. 11 and art. 12, 2020-01-23 official text · verified 2026-10-28

5. Printed invoices and fee receipts must include a third copy called the negotiable invoice (factura negociable) for transfer, collection, protest and enforcement. The negotiable invoice is a title to order transferable by endorsement, or a book entry security at a settlement institution with the same effects, arising from sales or services and embodying the right to the unpaid price, and it becomes an enforceable title once the legal requirements are met. Any agreement that restricts, limits or prohibits its transfer is void.
Cost to do it: Printing or electronic issuance cost; book entry registration fees set by the settlement institution.
Example: A supplier holding a S/ 100,000 invoice to a large retailer can endorse the negotiable invoice to a factoring company despite a no assignment clause in the supply contract. / An invoice of about US$28,969 can be sold to a fund or factor even if the buyer's terms forbid assignment.Ley Nº 29623, Ley que promueve el financiamiento a través de la factura comercial (El Peruano 7 December 2010), art. 2 as amended by Decreto de Urgencia Nº 013-2020 (El Peruano 23 January 2020), Art. 2, 2020-01-23 official text · verified 2026-10-28

6. For invoices on printed or imported forms, the buyer has a single, non extendable 8 calendar day period from the presentation record (or from notice of a registration request at a settlement institution) to accept or object to the invoice; if it does not object in time, irrevocable acceptance is presumed without proof to the contrary. Later claims for hidden defects can only be raised against the supplier, and the buyer may not withhold or delay payment to the legitimate holder. After transfer, the holder notifies the buyer, who must pay the holder so notified.
Cost to do it: No cost; the risk is losing defenses by missing the 8 day window.
Example: A mining company that receives a negotiable invoice on 1 March and objects on 12 March is too late and must pay the factor. / Foreign owned buyers in Peru need accounts payable processes that review invoices within 8 calendar days.Ley Nº 29623, art. 7 and art. 8 as amended by Decreto de Urgencia Nº 013-2020 (El Peruano 23 January 2020), Art. 7 and art. 8, 2020-01-23 official text · verified 2026-10-28

7. Factoring companies are SBS supervised specialized firms with base capital of S/ 1,356,000, and leasing companies S/ 2,440,000, both constant values indexed quarterly under art. 18.
Cost to do it: Factoring company S/ 1,356,000 (US$392,816); leasing company S/ 2,440,000 (US$706,837).
Example: A fintech that buys invoices with its own and shareholders' funds compares the SBS factoring license with operating as an unregulated buyer of negotiable invoices. / Base capital for a licensed factoring company is about US$392,816.Ley Nº 26702, art. 16 literal B as replaced by Ley Nº 28971 (27 January 2007); art. 18, Art. 16 B and art. 18, 2007-01-27 official text · verified 2026-10-28

Feature	Rule	Source
Lessor domiciled in Peru	Bank, finance company or SBS authorized firm	DL 299 art. 2
Form of lease	Any physical or electronic medium; registration optional	DL 299 art. 8
Lease enforcement	Executive title; restitution via justice of peace or notary	DL 299 art. 10 and 12
Negotiable invoice transfer	Endorsement or book entry; anti assignment clauses void	Ley 29623 art. 2
Invoice acceptance	8 calendar days, then irrevocable presumption	Ley 29623 art. 7

Leasing and factoring at a glance

Worked example

Invoice finance: a supplier sells a S/ 345,200 (US$100,000) negotiable invoice to a factor; the buyer does not object within 8 calendar days, so acceptance is irrevocable and the buyer must pay the factor on the due date, keeping any quality claim against the supplier.
Equipment lease: a S/ 690,400 (US$200,000) machine leased over 36 months; after two consecutive unpaid instalments the lessor terminates and seeks restitution through a notary in its province.

Step by step

For leasing, confirm the lessor's SBS status, sign in any authenticated medium and register in the Ministry of Production module within 3 days.
Insure the asset on the lessor's minimum terms.
For factoring, issue invoices with the negotiable copy or as electronic invoices registrable at a settlement institution.
Obtain the presentation record and track the 8 day window; after transfer, notify the buyer of the new holder.
Choose whether to operate as an SBS licensed factoring company or as an investor in negotiable invoices.

Common traps

Buyers lose defenses against the factor if they miss the 8 calendar day objection window.
No assignment clauses in supply contracts do not stop transfer of negotiable invoices.
Foreign lessors leasing into Peru should consider customs, tax and withholding consequences covered in the tax and trade sections.

Sources

← Secured lending and collateral in Peru: movable collateral and the SUNARP SIGM notice system, priority and purchase money security, out of court enforcement, mortgages and security trustsBuying and owning property in Peru: foreign ownership and the 50 km border zone, how title passes and is registered with SUNARP, alcabala and property tax, and the tax on selling →

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