Countries › Peru › Guide › 5. FX and capital controls › FX and capital flows in Peru: no exchange controls, free remittance of capital and profits, and the tax, banking and cash rules that apply

FX and capital flows in Peru: no exchange controls, free remittance of capital and profits, and the tax, banking and cash rules that apply

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

Peru has no exchange controls: the Constitution guarantees the free holding and disposal of foreign currency, and anyone can buy or sell dollars at market rates through banks and other financial firms without permits, quotas or central bank registration. Foreign investors registered with ProInversión have a statutory guarantee to send all their capital and net profits abroad, without prior authorization and at the most favorable exchange rate, once taxes are paid. What does apply is tax and compliance plumbing: withholding on money paid abroad (5 percent on dividends, 4.99 percent on qualifying foreign loan interest, 30 percent on related party interest and royalties), mandatory use of the banking system for loans, capital contributions and most payments, a 0.005 percent financial transactions tax, and a declaration for travelers carrying more than US$10,000 in cash.

USD figures use S/ 3.446 per US dollar, the banking system selling rate published by the Superintendencia de Banca, Seguros y AFP for 26 October 2026 as shown in the Banco Central de Reserva del Perú statistics series PD04640PD. Amounts that the law sets in US dollars or soles are quoted as written. Conversions are for orientation only.

Key facts

Exchange controls on buying, holding or transferring foreign currency	None; free holding and disposal of foreign currency is a constitutional guarantee textConstitution art. 64, as of 2026-10-28 · in force
Remittance of dividends and net profits abroad	Free, in freely convertible currency, without prior authorization, after taxes textDL 662 art. 7 b), as of 2026-10-28 · in force
Repatriation of registered capital, including share sale and liquidation proceeds	Free, without prior authorization, after taxes textDL 662 art. 7 a), as of 2026-10-28 · in force
SBS banking system selling rate, soles per US dollar, 26 October 2026	3.446 PENBCRP series PD04640PD, as of 2026-10-28 · in force
Withholding on dividends paid to non domiciled legal entities	5 %LIR art. 56 e), as of 2026-10-28 · in force
Withholding on interest on qualifying foreign loans (funds entered Peru, rate within prime plus 3 points), unrelated lender	4.99 %LIR art. 56 a), as of 2026-10-28 · in force
Withholding on interest paid to a related foreign lender	30 %LIR art. 56 j), as of 2026-10-28 · in force
Withholding on royalties paid to non domiciled legal entities	30 %LIR art. 56 d), as of 2026-10-28 · in force
Withholding on technical assistance paid to non domiciled legal entities	15 %LIR art. 56 f), as of 2026-10-28 · in force
Amount above which payments must go through the financial system	S/ 2,000 or US$500 textTUO Ley 28194 art. 4 as amended by DL 1529, as of 2026-10-28 · in force
Financial transactions tax (ITF) rate	0.005 %TUO Ley 28194 art. 10, as of 2026-10-28 · in force
Cash or bearer instruments above which travelers must declare	10000 USDLey 28306 sixth DCTF; DS 195-2013-EF art. 2, as of 2026-10-28 · in force
Maximum cash or bearer instruments a traveler may carry	30000 USDLey 28306 sixth DCTF; DS 195-2013-EF art. 2, as of 2026-10-28 · in force
Sanction for undeclared or falsely declared cash, as a share of the undeclared value	30 %DS 195-2013-EF art. 7, as of 2026-10-28 · in force

The rule

1. The State guarantees the free holding and disposal of foreign currency. Residents and non residents may hold dollars or any other currency, in cash or in Peruvian or foreign bank accounts, and convert it at market rates; there is no official exchange rate, no surrender requirement for export proceeds and no central bank authorization to buy or send foreign currency. Monetary policy belongs to the Banco Central de Reserva del Perú, an autonomous body whose purpose is to preserve monetary stability; its functions are to regulate money and credit in the financial system and to manage the international reserves.
Cost to do it: No fee or permit to buy, sell, hold or transfer foreign currency; the cost is the bank's buy and sell spread and any transfer commission agreed with the bank.
Example: A Lima company holding S/ 3,446,000 may convert it into dollars at any bank and keep the dollars in a Peruvian or foreign account without asking any authority. / The same S/ 3,446,000 buys about US$1,000,000 at the SBS banking system selling rate of S/ 3.446 for 26 October 2026, before the bank's spread.Constitución Política del Perú de 1993, Art. 64, art. 83 and art. 84, 1993-12-30 official text · verified 2026-10-28

2. Foreign investors have a guaranteed right to transfer abroad, in freely convertible currency, without prior authorization of any central, regional or municipal authority and after paying the taxes due: (a) all of their capital from investments registered with the competent national body (ProInversión), including the proceeds of selling shares or rights, reducing capital or partially or totally liquidating companies; and (b) all proven dividends or net profits from the registered investment, plus payments for the use of assets located in Peru and royalties and payments for the use and transfer of technology. Whenever they convert foreign currency into soles they may use the most favorable buying rate available at the time, and when converting soles into foreign currency, the most favorable selling rate. Payments to buy shares from Peruvian investors, channeled through the national financial system, count as foreign investment for these purposes.
Cost to do it: ProInversión registration of the investment that anchors the guarantee carries no fee on its official procedure sheet (see the investing page). Investors wanting these rights frozen for ten years need a legal stability agreement, which requires at least US$5,000,000 (about S/ 17,230,000) or US$10,000,000 in mining and hydrocarbons.
Example: A foreign shareholder that registered a S/ 3,446,000 capital contribution and later sells the shares for S/ 5,169,000 can wire the full net proceeds abroad after paying the capital gains tax, without any authorization. / Registered capital of US$1,000,000 sold for US$1,500,000: the full US$1,500,000, less the tax due, can be remitted in dollars.Decreto Legislativo Nº 662 (legal stability regime for foreign investment), Art. 7, art. 8 and art. 9, 1991-09-02 official text · verified 2026-10-28

3. Money leaving Peru as income of a non domiciled legal entity is taxed by withholding at the following rates: (a) interest on foreign loans 4.99 percent, provided that for cash loans the foreign currency is shown to have entered Peru and the annual interest does not exceed the prevailing prime rate of the lender's market plus three points (which must cover fees and other charges); (d) royalties 30 percent; (e) dividends and other distributions of profits 5 percent; (f) technical assistance 15 percent, with an audit firm report required when the contract exceeds 140 UIT; and (j) other income 30 percent, including interest paid to a related foreign lender, interest above the cap or on loans whose funds did not enter Peru, and interest through a lender used to disguise a related party loan. For branches and other permanent establishments of foreign companies, profits are deemed distributed on the due date of the annual income tax return, so the 5 percent applies whether or not cash is sent.
Cost to do it: Withholding is a tax cost, not a fee: 5 percent of the gross dividend, 4.99 percent of qualifying third party loan interest, 30 percent of related party interest and royalties. Treaty rates may be lower where Peru has a treaty with the recipient's country.
Example: A dividend of S/ 344,600 to a foreign parent bears S/ 17,230 of withholding (5 percent), leaving S/ 327,370 to remit. / On US$100,000 of dividends the parent receives US$95,000. On US$100,000 of interest the withholding is US$4,990 if the lender is an unrelated foreign bank and the loan meets the conditions, but US$30,000 if the lender is the foreign parent.Texto Único Ordenado de la Ley del Impuesto a la Renta (Decreto Supremo Nº 179-2004-EF); dividend rate set by Decreto Legislativo Nº 1261 (published 10 December 2016, in force 1 January 2017), Art. 56 literals a), d), e), f) and j), 2016-12-10 official text · verified 2026-10-28

4. Payments of obligations above S/ 2,000 or US$500 must be made through the financial system (deposits, transfers, payment orders, cards, cheques, remittances or letters of credit), even if split into smaller partial payments. Loans of money must be disbursed and repaid through these means whatever their amount, and payments of 1 UIT (S/ 5,500 in 2026) or more to acquire, increase or reduce an equity stake in a company or to transfer real estate or vehicles can only be made through them. Payments made without these means give no right to deduct expenses, costs or credits, to offset or to claim tax refunds. Payments to non domiciled persons may be channeled through Peruvian financial firms or foreign banks when the payer carries out foreign trade, including purchases of real estate, shares and other securities, but financing operations with foreign banks are outside that rule.
Cost to do it: No fee beyond ordinary bank charges and the 0.005 percent financial transactions tax; the cost of non compliance is the loss of the tax deduction or refund.
Example: A foreign parent that lends S/ 50,000 to its Peruvian subsidiary must wire it through a bank even though it is small; a S/ 1,800 supplier invoice can be paid in cash. / An intercompany loan of US$14,510 (S/ 50,000) needs a bank transfer; a capital increase of US$1,596 (S/ 5,500, 1 UIT) or more must also go through a bank.Texto Único Ordenado de la Ley Nº 28194 (Decreto Supremo Nº 150-2007-EF, published 23 September 2007), as amended by Decreto Legislativo Nº 1529 (published 3 March 2022), Art. 3, art. 4, art. 5 and art. 8, 2022-03-03 official text · verified 2026-10-28 · changed: Decreto Legislativo Nº 1529, published 3 March 2022 and in force from 1 April 2022, cut the threshold for mandatory use of payment means from S/ 3,500 or US$1,000 to S/ 2,000 or US$500, as confirmed by SUNAT Informe Nº 000039-2022-SUNAT/7T0000.

5. The Financial Transactions Tax (Impuesto a las Transacciones Financieras, ITF) applies at 0.005 percent to operations in soles or foreign currency, including credits and debits to accounts in Peruvian financial firms, except transfers between accounts of the same holder, and payments to financial firms made without using an account.
Cost to do it: 0.005 percent of each taxable credit or debit, withheld by the bank.
Example: Debiting S/ 344,600 from a Peruvian account to pay a dividend abroad costs S/ 17.23 of ITF. / On a US$100,000 debit the ITF is US$5.Texto Único Ordenado de la Ley Nº 28194 (Decreto Supremo Nº 150-2007-EF), art. 10 as replaced by Ley Nº 29667 (published 20 February 2011, in force 1 April 2011), Art. 9 and art. 10, 2011-02-20 official text · verified 2026-10-28

6. Every person entering or leaving Peru through an international airport, port or SUNAT border post must file a sworn declaration if carrying cash or bearer negotiable instruments above US$10,000 or its equivalent in soles or another currency. Carrying more than US$30,000 is prohibited; larger amounts must move through firms authorized by the SBS. If cash is not declared or is declared falsely, SUNAT retains the whole amount and imposes a sanction equal to 30 percent of the undeclared value, payable even if the money proves lawful; amounts declared above US$30,000 are retained for the excess. The traveler has 72 hours from retention to prove the lawful origin of the money before the financial intelligence unit (UIF Perú), extendable once by up to 30 calendar days on a justified request.
Cost to do it: Declaring is free, using SUNAT's electronic formats approved by Resolución de Superintendencia Nº 000064-2022/SUNAT. Failing to declare costs 30 percent of the undeclared amount plus retention of all the cash.
Example: A traveler arriving with S/ 68,920 (US$20,000) in cash must declare it; if they do not, SUNAT retains it all and the sanction is S/ 20,676. / US$20,000 undeclared means a US$6,000 sanction; US$40,000 declared means US$10,000 is retained as the excess over the US$30,000 limit.Ley Nº 28306 (published 29 July 2004), sixth complementary, transitory and final provision, as amended by Decreto Legislativo Nº 1106 and Decreto Legislativo Nº 1249 (published 26 November 2016); Decreto Supremo Nº 195-2013-EF (regulation), Ley 28306 sixth DCTF numerals 6.1 to 6.3; DS 195-2013-EF art. 2, art. 7 and art. 8, 2016-11-26 official text · verified 2026-10-28

Payment	Rate (LIR art. 56)	Withholding US$	Net to recipient US$	Withholding S/	ITF on debit S/
Dividend	5%	5,000	95,000	17,230	17.23
Interest, unrelated foreign bank, qualifying loan	4.99%	4,990	95,010	17,196	17.23
Interest, related foreign lender	30%	30,000	70,000	103,380	17.23
Royalty	30%	30,000	70,000	103,380	17.23
Technical assistance	15%	15,000	85,000	51,690	17.23

What it costs to move US$100,000 out of Peru to a foreign company, by type of payment, before any treaty relief. Soles at S/ 3.446 per US dollar (26 October 2026). ITF of 0.005 percent on the bank debit added separately. Illustration only.

Threshold	Amount	What happens	Source
Mandatory bank payment	Above S/ 2,000 or US$500	Must pay through the financial system or lose the tax deduction	TUO Ley 28194 art. 3, 4 and 8
Loans of money	Any amount	Disbursement and repayment through the financial system	TUO Ley 28194 art. 3
Equity stakes, real estate, vehicles	1 UIT (S/ 5,500 in 2026) or more	Payment only through the financial system	TUO Ley 28194 art. 3
Traveler cash declaration	Above US$10,000	Sworn declaration to SUNAT	DS 195-2013-EF art. 2
Traveler cash limit	Above US$30,000	Prohibited; use an SBS authorized firm	DS 195-2013-EF art. 2

Peru's FX and cash compliance thresholds, with their legal source.

Worked example

A Peruvian S.A.C. owned by a US parent declares a dividend of S/ 344,600 (US$100,000). It withholds S/ 17,230 (5 percent) and pays it to SUNAT, then wires S/ 327,370, or US$95,000 bought at the bank's selling rate, to the parent's account abroad. The bank charges S/ 17.23 of ITF on the debit. No central bank form, permit or exchange quota applies.
The same parent funds its subsidiary with a US$500,000 loan instead of equity. Because the lender is related, every US$100,000 of interest bears US$30,000 of withholding (30 percent), against US$4,990 (4.99 percent) if the subsidiary had borrowed from an unrelated foreign bank whose funds entered Peru at a rate within the cap. The loan itself must be disbursed and repaid through a bank whatever its size.
Argentina and Peru: Argentina's official list of income tax treaties in force does not include Peru, so payments between the two countries follow each side's domestic rules. Peru's side is set out here; for Argentina's FX access, dividend and import payment rules see The Argentine Thread guide.

Step by step

Bring the capital in through a Peruvian bank so the investment can be registered with ProInversión and the remittance guarantees of DL 662 apply; the resolution comes within 25 business days.
Open soles and US dollar accounts at a Peruvian bank; holding dollars onshore is lawful and common.
Route every loan disbursement and repayment, every capital contribution of 1 UIT or more, and every payment above S/ 2,000 or US$500 through the financial system, and keep the bank evidence.
For foreign loans, keep proof that the currency entered Peru and that the rate does not exceed the lender market prime rate plus three points, to support the 4.99 percent rate.
Before each payment abroad, compute withholding under LIR art. 56 or the applicable treaty, withhold, and pay it to SUNAT in the monthly return; then instruct the bank to convert and wire the net amount.
Travelers carrying more than US$10,000 in cash must fill in SUNAT's electronic declaration before the customs check, and must not carry more than US$30,000.

Common traps

Unregistered capital: the DL 662 art. 7 remittance guarantee is written for investments registered with ProInversión, so register each contribution after it arrives; no authority approves the transfers themselves.
Related party debt: interest to a foreign parent is withheld at 30 percent, not 4.99 percent, and so is interest on loans whose funds never entered Peru or that exceed the prime plus three points cap.
Branch profits: a Peruvian branch is deemed to distribute its available profit on the annual return due date, so the 5 percent dividend tax is due even if the head office leaves the cash in Peru.
Cash payments: paying a loan, a capital increase or any obligation above S/ 2,000 or US$500 in cash costs the tax deduction, credit or refund linked to it.
Undeclared cash at the border: SUNAT retains all of it and charges 30 percent of the undeclared value even when the money is lawful.

Sources

Related: Peru country profile · live dashboard · central bank and release calendar · our posts on X · where Argentina is involved, see The Argentine Thread guide

← Choosing a legal entity in Peru: S.A.C., S.A., S.R.L., branch, S.A.C.S. or E.I.R.L., with capital, registry fees and beneficial ownership