Buy Property in Miami From Abroad | Global G Real Estate

By Pierina Gutierrez Chavez, Investment & Relocation Specialist (FL SL3305721)·Published September 17, 2026

Most foreign nationals can buy real estate in Florida, but Florida restricts purchases by people domiciled in certain countries of concern (statewide for the People's Republic of China; near military installations and critical infrastructure for the others), and the transaction involves U.S. tax obligations, entity structuring decisions and closing procedures that differ from domestic purchases. This guide covers what you need to understand before committing — and where you need professional guidance from a U.S. tax attorney, not just a real estate agent.

Florida's Rules for Buyers From Countries of Concern

Florida Statutes §§ 692.201–692.205 restrict real estate purchases by “foreign principals” of “foreign countries of concern.” The 2026 statute defines a foreign country of concern as “the People’s Republic of China, the Russian Federation, the Islamic Republic of Iran, the Democratic People’s Republic of Korea, the Republic of Cuba, the Venezuelan regime of Nicolás Maduro, or the Syrian Arab Republic” (§ 692.201(3)). A foreign principal includes “any person who is domiciled in a foreign country of concern and is not a citizen or lawful permanent resident of the United States” (§ 692.201(4)(d)). The rules turn on where a person is domiciled, not on citizenship alone.

People's Republic of China (statewide):a person domiciled in the People's Republic of China who is not a U.S. citizen or lawful permanent resident may not own or acquire an interest in real property anywhere in Florida (§ 692.204(1)). A narrow exception lets such a person buy one residential property of up to 2 acres that is not within 5 miles of a military installation, if they hold a current verified visa that is not limited to tourism (or official asylum documentation) and buy in their own name (§ 692.204(2)). Owners under this exception must register the property with the Florida Department of Commerce (§ 692.204(4)).
Other countries of concern (near military and critical infrastructure sites):a foreign principal may not own or acquire real property on or within 10 miles of a military installation or critical infrastructure facility in Florida (§ 692.203(1)), with a similar one-residential-property exception (§ 692.203(4)).
Every buyer:at the time of purchase, every buyer of real property in Florida signs an affidavit under penalty of perjury that they are not a person barred by § 692.204 (§ 692.204(6)). Purchases on or within 10 miles of a military installation or critical infrastructure facility also need the affidavit in § 692.203(6).

How these rules apply to a specific person and property is a legal question. If you are domiciled in one of the listed countries, speak with a Florida real estate attorney before you sign a contract. Separately, title companies and banks screen the parties to a sale against U.S. Treasury (OFAC) sanctions lists.

Sources: Fla. Stat. § 692.201 (2026); Fla. Stat. § 692.203 (2026); Fla. Stat. § 692.204 (2026); OFAC Sanctions List Search

Lea esta guía en español: Comprar propiedad en Miami desde el extranjero.

What Is FIRPTA and How Does It Affect Your Purchase?

The Foreign Investment in Real Property Tax Act (26 U.S.C. § 1445) requires withholding of a percentage of the gross sales price when the seller of U.S. real property is a "foreign person" as defined under the Internal Revenue Code.

FIRPTA primarily affects you when you sell the property, not when you buy it. However, understanding the withholding obligation at purchase time is important for planning:

General rule: 15% of the amount realized is withheld and remitted to the IRS (IRS — FIRPTA Withholding)
Reduced rate:10% when the property is acquired for use as the buyer's residence and the amount realized is $1,000,000 or less (see the $300,000 exemption below for smaller purchases), per IRS Form 8288 Instructions
Exemption: No withholding if the amount realized is $300,000 or less and the buyer has definite plans to use the property as a residence, per IRS Form 8288 Instructions
Withholding certificate:The IRS may issue a certificate authorizing a reduced withholding amount based on the seller's actual expected tax liability

Source: IRS — FIRPTA Withholding; IRS — Form 8288 Instructions; 26 U.S.C. § 1445

Should You Buy Through an LLC or Corporation?

Many international buyers purchase through a U.S. entity — typically a Florida LLC or a U.S. corporation. The choice of structure affects:

U.S. income tax treatment of rental income and capital gains
Estate tax exposure — nonresidents not U.S. citizens may need to file a U.S. estate tax return if the fair market value of their U.S.-situated assets exceeds a $60,000 exemption, compared to a $15,000,000 basic exclusion amount for 2026 available to U.S. citizens and residents (adjusted annually and subject to change by Congress)
Tax treaty implications between the U.S. and your country of residence
Liability protection and privacy

Consult a tax attorney first

The optimal entity structure depends on your country of tax residence, applicable tax treaties, your estate planning goals, and whether you plan to rent the property. This is not a decision to make based on a web article. Consult a U.S. tax attorney or CPA who specializes in international real estate transactions.

Can You Close Without Traveling to Miami?

Yes. Remote closings are common for international buyers. Several methods are available:

U.S. consulate or embassy: Documents can be signed and notarized at a U.S. consulate in your home country
Apostille: For countries that are parties to the Hague Apostille Convention, documents notarized locally and apostilled may be accepted
Remote online notarization (RON): Florida authorizes remote online notarization under FL § 117.265, which allows documents to be notarized via audio-video communication

Your attorney and title company should confirm which method is acceptable for your specific transaction and the title insurance underwriter's requirements.

What Financing Options Exist for Foreign Nationals?

Foreign nationals are not eligible for conventional mortgage programs that require U.S. citizenship or permanent residency. However, several financing options may be available:

Foreign national loan programs: Portfolio lenders offer mortgage products specifically for non-U.S. citizens. These programs typically require a larger down payment than conventional financing, and terms vary significantly by lender — ask each lender you compare for their specific down payment and rate requirements.
ITIN loans: Buyers with an Individual Taxpayer Identification Number (ITIN) may qualify for certain mortgage programs. An ITIN can be obtained from the IRS regardless of immigration status.
DSCR loans:For investment properties, Debt-Service Coverage Ratio loans are underwritten based on the property's rental income rather than the borrower's personal income — which can be advantageous for international investors.

Buyers should compare options from multiple lenders to find the best terms for their situation. We are a real estate brokerage and do not make loans. You are free to choose any lender.

Important

This guide is for educational purposes and does not constitute legal, tax, or financial advice. International real estate transactions involve complex tax and legal considerations that vary by country of residence. Buyers should consult a U.S. tax attorney, their own legal counsel, and their own lender before making any decisions.

Frequently Asked Questions

Can a foreign national buy property in Florida?

In most cases, yes, in their own name or through a legal entity. The main exception is Florida's foreign-principal law (Fla. Stat. §§ 692.203–.204), which turns on where a buyer is domiciled. A person domiciled in the People's Republic of China who is not a U.S. citizen or lawful permanent resident may not buy real property anywhere in Florida, apart from a narrow exception for one residential property (§ 692.204(1)–(2)). People domiciled in the other countries of concern listed in the statute may not buy property on or within 10 miles of a military installation or critical infrastructure facility, with a similar narrow residential exception (§ 692.203). Every buyer of Florida real property signs an affidavit at closing (§ 692.204(6)). Financing, tax and reporting rules also differ for non-residents.

Sources: Fla. Stat. § 692.201 (2026); Fla. Stat. § 692.203 (2026); Fla. Stat. § 692.204 (2026)

What is FIRPTA and how much is withheld?

FIRPTA (the Foreign Investment in Real Property Tax Act, 26 U.S.C. § 1445) requires the buyer to withhold a percentage of the amount realized when the seller is a foreign person. The general withholding rate is 15% of the amount realized. A reduced rate of 10% applies when the property is acquired for use as the buyer’s residence and the amount realized is $1,000,000 or less. No withholding is required if the amount realized is $300,000 or less and the buyer has definite plans to use the property as a residence. The IRS may issue a withholding certificate for a reduced amount based on the seller’s actual tax liability.

Sources: IRS — FIRPTA Withholding; IRS — Form 8288 Instructions

Do I need a U.S. bank account to buy property in Miami?

Not necessarily to purchase, but practically useful. Some title companies and lenders require funds to originate from a U.S. bank account for anti-money laundering compliance. Wire transfers from foreign banks are common but may require additional documentation. Your attorney and title company can advise on the specific requirements for your transaction.

Can I close on a Miami property without traveling to the U.S.?

Yes. Remote closings are common for international buyers. Documents can be signed before a U.S. consulate or embassy in your home country, or before a notary whose authority is recognized through an apostille under the Hague Convention. Some transactions use remote online notarization (RON), which Florida has authorized under Florida Statute § 117.265. Your attorney should confirm which method is acceptable for your specific transaction.

Source: Florida Statute § 117.265 (2025)

Should I buy in my personal name or through an LLC?

This depends on your specific tax situation, liability exposure, estate planning goals, and the country where you are a tax resident. Many international buyers use a U.S. LLC or corporation, but the structure has tax implications that vary by country of residence due to tax treaty provisions. Consult a U.S. tax attorney or CPA who specializes in international real estate transactions before choosing a structure.