How to Pay Chinese Suppliers from Peru (2026)

Key takeaways

Article 64 of Peru's Constitution guarantees the free holding and disposal of foreign currency, so a Peruvian importer can pay suppliers in dollars from a dollar account without converting.
Under the TUO of Law 28194, payments of S/2,000 or US$500 and above must be made with a medio de pago, such as a bank transfer, or they give no right to deduct the cost or claim tax credits.
Since 1 January 2023, payments to non-domiciled suppliers may be made through foreign banks, except banks in non-cooperative or low or no tax territories.
BBVA Perú publishes US$32 for a transfer abroad up to US$3,000 and US$42 from US$3,001 to US$10,000, plus US$40 if the sender takes correspondent charges under OUR, effective 5 June 2026.
SUNAT applies ad valorem duty of 0%, 4%, 6% or 11%, IGV of 16%, IPM of 2% and, in the usual case, an IGV perception of 3.5% to definitive imports.
The Peru-China free trade agreement has been in force since 1 March 2010, and 22.8% of imports from China entered under its preferences in its fifteenth year, according to MINCETUR.

How to pay a Chinese supplier from Peru: the short answer

A Peruvian company can pay a Chinese supplier in US dollars without exchange approval. Article 64 of the 1993 Constitution states that the State guarantees the free holding and disposal of foreign currency, and Peruvian banks offer dollar accounts as standard products. The company pays from its dollar account, or buys dollars from its bank, and the bank sends them by SWIFT to the supplier's account in China or Hong Kong. SWIFT is the international messaging network banks use for cross-border payments.

The usual sequence for an order from China is:

Agree the price, the payment terms and the Incoterm with the supplier, and get a proforma invoice. An Incoterm is a standard trade term, such as FOB or CIF, that sets who pays freight and insurance.
Pay the deposit by bank transfer from the company's own account, directly to the supplier, quoting the invoice number.
Pay the balance against a copy of the bill of lading, the document the shipping line issues when it receives the goods.
Ask the supplier for proof of origin under the Peru-China free trade agreement if you will claim the preferential tariff.
Clear the goods with SUNAT, Peru's tax and customs authority, on a DAM (Declaración Aduanera de Mercancías), the customs declaration, and pay the import taxes.
Keep the bank records that prove each payment went through the financial system.

This guide covers the Peruvian side of each step. For the supplier's side, such as how Chinese factories invoice and why many ask to be paid in Hong Kong, see our general guide on how to pay suppliers in China.

Peruvian rules: free exchange and the bancarización law

Peru does not require an exchange declaration or central bank approval to pay an import. The constitutional guarantee covers both holding and disposing of foreign currency, so a company can keep dollars in Peru or abroad and use them to pay suppliers.

The rule an importer must follow is the bancarización law, the Ley para la Lucha contra la Evasión y para la Formalización de la Economía, whose consolidated text (TUO) was approved by Supreme Decree 150-2007-EF. It requires payments above a threshold to be made with a medio de pago, a means of payment through the financial system. Decreto Legislativo 1529 lowered the threshold with effect from 1 April 2022.

Rule	What it says	What it means for an import payment
Threshold (Article 4)	S/2,000 or US$500, down from S/3,500 or US$1,000 before 1 April 2022	Almost every supplier payment is above it
Medios de pago (Article 5)	Includes account deposits, giros, fund transfers, payment orders, debit and credit cards, cheques, remittances and letters of credit	A SWIFT transfer or a letter of credit qualifies
Payment to the creditor (Article 5-A)	The obligation is met only if payment goes directly to the creditor or supplier, or to a third party expressly designated and previously notified to SUNAT	Pay the supplier named on the invoice
Non-domiciled suppliers	Payments may be made through foreign banks or financial companies, except those in non-cooperative or low or no tax territories, from 1 January 2023	A payment from a USD account abroad can qualify; check where the bank is located
Consequence (Article 8)	Payments made without a medio de pago give no right to deduct expenses, costs or credits, to offset taxes or to request refunds	A cash or informal payment can cost more in tax than it saves

Sources: SUNAT, Informe 000039-2022-SUNAT/7T0000 (3 June 2022); CMS, amendments on the use of medios de pago (29 March 2022), as published on 29 October 2026.

Freedom to hold dollars does not remove the paperwork. Banks still ask for the invoice behind large payments, so keep it with each transfer.

How the money reaches a Chinese supplier

Most Chinese suppliers invoice in US dollars, and many invoice through a Hong Kong trading company with a Hong Kong bank account. A Peruvian importer pays in one of the ways below. Whichever route you use, pay the company named as seller on the invoice, because Article 5-A of the bancarización law counts only payments made directly to the creditor or to a third party notified to SUNAT.

Supplier asks for	How you pay from Peru	What to check
USD to a Hong Kong company account	SWIFT transfer from your dollar account	The Hong Kong company is the seller on the invoice
USD to a mainland China account	SWIFT transfer from a Peruvian bank or a USD account abroad	The supplier's bank checks the contract and invoice before it credits the funds
Chinese yuan (CNY) to a mainland account	Ask your bank whether it sends yuan; BBVA Perú's published currencies for transfers abroad do not include it	Compare the yuan quote with the dollar route
Letter of credit	Your bank issues the credit; the supplier is paid against documents	Documents must match the credit exactly
Documentary collection	Banks release the shipping documents to you against payment	The supplier carries more risk than under a credit

Routes as described in this guide; currencies from BBVA Perú, Transferencias al Exterior; supplier-side checks from PNC Bank, as published on 29 October 2026.

Paying from a dollar account

Peruvian banks publish their own service levels for transfers abroad. BBVA Perú lists USD, SEK, MXN, CHF, JPY, CAD, GBP and EUR as currencies it sends, and publishes indicative arrival times of 24 hours to the United States, 48 hours to Latin America and 72 hours to Europe and Asia. To send through its digital channel or a branch, the company must be a client with a savings or current account.

What the supplier's bank checks

China manages foreign exchange through the State Administration of Foreign Exchange (SAFE). As summarized by PNC Bank, the supplier's bank verifies each receipt against documents such as the contract, invoice and customs declaration, and the remitter and beneficiary must be the parties to the contract. Peru's own rule that payment must go directly to the creditor points the same way.

Deposit, balance and payment terms

The payment term decides when dollars leave Peru and what you hold in return. Peruvian rules do not set the term, so it is a commercial choice, but every payment should go through a medio de pago.

Term	How it works	Point to watch
Advance payment (deposit)	You pay part of the order before production, often 30%	You carry the risk until the goods ship
Balance against bill of lading copy	You pay the rest once the goods have shipped	Check that shipper, consignee and goods match the invoice
Supplier credit	The supplier ships first and you pay later	The later payment must still go directly to the supplier through a medio de pago
Letter of credit	Your bank promises to pay the supplier when it presents documents that match the credit	Bank commissions apply; discrepancies delay payment
Documentary collection	Banks exchange the shipping documents for your payment, without a bank promise	The supplier carries more risk than under a credit

Payment terms as commonly used in trade with China; medios de pago from SUNAT, Informe 000039-2022, as published on 29 October 2026.

A letter of credit (LC) is a bank's written promise to pay the seller when it presents documents that comply with the credit's terms. A documentary collection sends the shipping documents through the banks, and you receive them only after you pay or accept a bill of exchange. Letters of credit are listed among the medios de pago. A supplier that has not traded with you before may ask for an LC on the first order and accept deposit and balance on later orders.

What it costs: published bank charges

Each Peruvian bank publishes its own tariff. The table shows BBVA Perú's published charges for transfers abroad, as an example of the items to budget for on each order.

Amount sent	BBVA commission	SWIFT
Up to US$3,000	US$32	Included
US$3,001 to US$10,000	US$42	Included
US$10,001 to US$25,000	0.25%, minimum US$42	US$11
Above US$25,000	0.125%, minimum US$65, maximum US$150	US$11
Correspondent charges, OUR	US$40; OUR Garantizado US$60, in dollars through digital channels only	Not applicable
Modification, investigation or return request	US$10	US$11

Source: BBVA Perú, Comercio Exterior, Transferencias al Exterior tariff, effective 5 June 2026, as published on 29 October 2026. The bank describes its calculator figures as indicative. Other banks set their own charges.

On a US$40,000 order paid as a US$12,000 deposit and a US$28,000 balance, the deposit falls in the 0.25% band, which gives US$30 and so the US$42 minimum, plus US$11 for SWIFT. The balance falls in the 0.125% band, which gives US$35 and so the US$65 minimum, plus US$11. The published charges come to US$129, or US$209 if you also pay the US$40 correspondent charge on each payment under OUR.

Under OUR, BBVA states that the destination bank or intermediaries may still deduct charges from the amount, while OUR Garantizado covers all charges so nothing is deducted. SHA puts the correspondent's charges on the supplier. A payment that arrives short delays shipment while the supplier queries the gap, so agree in the contract who pays which charges. If you pay from soles, the bank's exchange rate is a further cost, so ask for it before you confirm.

SUNAT import taxes, the China FTA and the documents

SUNAT publishes the taxes on a definitive import. The base is the customs value, and the rates are set by tariff subheading.

Tax	Rate	Base
Ad valorem duty	0%, 4%, 6% or 11%, by subheading	Customs value
IGV (general sales tax)	16%	Customs value plus duties and other import taxes
IPM (municipal promotion tax)	2%	Customs value plus duties and other import taxes, except IGV
IGV perception	3.5% in the usual case; 10% for a first import or certain RUC situations; 5% for used goods	Customs value plus duties and taxes

Source: SUNAT, Orientación Aduanera, pagos y garantías, as published on 29 October 2026. The selective consumption tax (ISC) applies to listed goods.

As an illustration, goods with a customs value of US$42,000 at a 6% duty would pay US$2,520 of duty, IGV of US$7,123.20 and IPM of US$890.40 on a base of US$44,520, and an IGV perception of US$1,838.68 at 3.5% of US$52,533.60. The IGV perception is an advance payment of IGV.

The Peru-China free trade agreement was signed on 28 April 2009 and has been in force since 1 March 2010. In its fifteenth year, from March 2024 to February 2025, imports from China reached US$15,227 million, and US$3,468 million, or 22.8%, entered under the agreement's preferences, according to MINCETUR, the trade ministry. Ask your customs agent which goods qualify and what proof of origin the agreement requires.

Keep one file per order: the RUC, the company's 11-digit taxpayer number; the proforma and commercial invoices; the SWIFT confirmation (MT103) for each payment; the bill of lading and packing list; the proof of origin; and the DAM. The MT103 is the standard SWIFT message for a customer transfer and shows the payment went through the financial system.

Agents, crypto and other routes: the facts

Some importers pay through an agent who collects soles in Peru and pays the supplier from an account abroad, or through a stablecoin seller. The facts below are what an importer should weigh.

Paying an agent is not paying the supplier. Under Article 5-A of the bancarización law, the obligation is met only if payment goes directly to the creditor or supplier, or to a third party expressly designated and previously notified to SUNAT.
The tax cost can exceed the saving. Under Article 8, payments made without a medio de pago give no right to deduct expenses, costs or credits, to offset taxes or to request refunds.
Crypto transfers are not on the list. The medios de pago are account deposits, giros, fund transfers, payment orders, cards, cheques, remittances and letters of credit. Take tax advice before paying a supplier in a crypto asset.
Crypto providers are supervised for anti-money laundering. Under SBS Resolution 02648-2024, virtual asset service providers in Peru are obliged entities supervised by the UIF-Perú, the financial intelligence unit, and must identify their clients and report suspicious operations.
The supplier's bank may query it. China's rules expect the payer to be the party on the contract.

Where Helm fits

Helm is a financial technology company, not a bank. Accounts are held with regulated partner institutions. Helm serves companies registered in Peru. A Helm account gives your company USD account details in its own name, with a US routing and account number that receives ACH, Fedwire and SWIFT payments.

For a Peruvian business that buys from China, it works like this:

Pay suppliers in USD. Send international payments by SWIFT from your company's own account directly to the supplier's USD account in China or Hong Kong, with the rate, fee and expected arrival shown before you send.
Keep the bancarización trail. Payments to non-domiciled suppliers may be made through foreign banks, except in non-cooperative or low tax territories, so confirm with your tax adviser that payments from the account meet the rule.
Use dollars you collect. Receipts from buyers abroad can be held in USD and used to pay suppliers, without converting to soles in between.
Stablecoins. The account can receive USDC or USDT and convert them to USD, so a supplier payment still goes out as a bank transfer from your company's account.
Finance the order. Trade finance, such as supplier finance and working capital, is arranged case by case.

Each account has a named account manager, and review questions are answered in writing within one business day. Helm agrees pricing with each business in writing before the account opens, and shows the rate, the fee and the expected arrival before you confirm each payment.

A checklist for paying a Chinese supplier from Peru

Pay from the company that is the buyer, from its own account, through a bank transfer or letter of credit.
Pay the supplier named on the invoice directly, never an agent unless the agent has been designated and notified to SUNAT.
Send each payment by SWIFT with the charge option agreed in the contract, quoting the invoice number.
Pay the balance against a copy of the bill of lading, or use a letter of credit for a new supplier.
Check whether the goods qualify under the Peru-China agreement and get the proof of origin before they arrive.
Budget for duty, IGV, IPM and the IGV perception on the customs value.
If you pay from soles, ask for the bank's exchange rate before you confirm.
File each MT103 with the invoice and DAM for the order.

For how other importers organize supplier payments, see the importers page.

Open a Helm account

USD, EUR and GBP accounts in your company's name, with a named account manager.

Open account

Questions

How do I pay a Chinese supplier from Peru?

Send US dollars by SWIFT from your company's dollar account at a Peruvian bank, or from a USD account abroad in the company's name, directly to the seller named on the invoice. Peru has no exchange controls, and a bank transfer counts as a medio de pago under the bancarización law.

Does Peru have exchange controls on import payments?

No. Article 64 of Peru's Constitution guarantees the free holding and disposal of foreign currency, so a company can pay suppliers in dollars without an exchange declaration. Banks still ask for the invoice behind large payments.

What is bancarización in Peru?

It is the rule in the TUO of Law 28194 that payments of S/2,000 or US$500 and above must be made with a medio de pago, such as a bank transfer, card, cheque or letter of credit. Payments made without one give no right to deduct the cost or claim tax credits.

Can I pay a Chinese supplier from a bank account abroad?

Yes. Since 1 January 2023, payments to non-domiciled suppliers may be made through foreign banks or financial companies for bancarización purposes, except those in non-cooperative or low or no tax territories. Confirm the account's location with your tax adviser.

Can an agent pay my Chinese supplier for me?

Under Article 5-A of the bancarización law, the obligation is met only if payment goes directly to the supplier or to a third party expressly designated and previously notified to SUNAT. Paying an agent without that notice can cost the right to deduct the expense.

What do Peruvian banks charge to send a payment to China?

Each bank publishes its own tariff. BBVA Perú publishes US$32 up to US$3,000, US$42 from US$3,001 to US$10,000, 0.25% with a US$42 minimum up to US$25,000 and 0.125% with a US$65 minimum and US$150 maximum above that, plus SWIFT and US$40 for OUR.

What import taxes apply to goods from China in Peru?

SUNAT applies an ad valorem duty of 0%, 4%, 6% or 11% by subheading, IGV of 16% and IPM of 2%, and in the usual case an IGV perception of 3.5%. The Peru-China free trade agreement can reduce the duty on qualifying goods.

When did the Peru-China free trade agreement take effect?

The agreement was signed on 28 April 2009 and has been in force since 1 March 2010. In its fifteenth year, 22.8% of imports from China entered under its preferences, according to MINCETUR.

Can I pay a Chinese supplier with USDT from Peru?

Crypto transfers are not among the medios de pago listed in the bancarización law, so take tax advice first. Virtual asset service providers in Peru are supervised by the UIF-Perú for anti-money laundering under SBS Resolution 02648-2024.

Why does my Chinese supplier want payment to a Hong Kong account?

Many Chinese factories sell through a Hong Kong trading company that holds a Hong Kong bank account. Make sure the Hong Kong company is the seller on the invoice, so the payment, the bancarización record and the DAM all name the same supplier.

References

HelmHelm is a business account for companies that trade internationally: USD, EUR and GBP accounts, international payments, collections and currency exchange, with a named account manager. Questions: [email protected].

This guide is general information for businesses, not financial, legal or tax advice. Rules, fees and timings were checked against the sources listed on the review date and may change.

How to pay Chinese suppliers from Peru