How to Get Residency by Investing Money in Peru
You can, however, get residency via an investment. There are two options to do this. One is an investment / entrepreneur visa and the other is forming a company in which you are the main shareholder. You can find out more about both of this options in this post.
Getting residency is one thing, keeping it is another. Some people think that they can simply get residency, leave for two years, and then apply for citizenship. That's probably not going to work either. If you want to keep residency, you'll have to come to Peru every six months. If you spend more than 6 months outside of Peru and want to keep your residency, you will have to get permission from immigration. Here is what you will have to do if you want to leave for more than 183 days. You can read more info about this in Chris' blog. More first hand experience can be read in this thread.
Getting Peruvian Citizenship and a Passport
After you've had your CE for two years and paid the yearly tax, then you can apply for Peruvian citizenship. You can find out how to do this in this post.
NB: I'll be taking a break from blogging at The Ultimate Peru List in January and February. While I'm gone you can take a look at my other blogs. New posts will be published starting in March.