A large share of my clients are buying Miami property from outside the United States, from Latin America, Europe, and Canada. Miami has always been a global city, and buying here as a foreign national is very doable. It just comes with a few extra steps that trip up buyers who expect it to work exactly the way it does at home.
This guide walks through the big pieces at a high level so you can plan the trip, the paperwork, and the budget with your eyes open. I want to be clear up front: I am a real estate agent, not a tax attorney or an accountant. On anything involving taxes, ownership structures, or immigration, please work with a qualified cross border professional. What I can do is help you understand the landscape, translate the process into plain terms, and assemble the right team around you.
Why Miami is a global buyer magnet
Miami consistently ranks among the top destinations for international real estate buyers, and once you have spent time here, it is not hard to see why.
- No Florida state income tax, and a stable, liquid market where property tends to sell when priced right.
- A true gateway to Latin America, with direct flights to most major capitals, Spanish and Portuguese spoken everywhere, and a culture that feels familiar the moment you land.
- Real estate that doubles as a lifestyle asset and a place to hold capital in a currency and a country many of my clients trust.
That combination is why neighborhoods like Brickell, Sunny Isles, and the growing luxury towers along Edgewater draw so much foreign capital. Buildings like 1428 Brickell, FAENA Residences Brickell, and Brickell Flatiron sell in part because international buyers keep the demand deep. When you buy in these corridors, you are buying into proven, repeat demand rather than a trend that might fade.
Financing as a foreign national
Many international buyers pay cash, and that is the simplest, fastest path. It also gives you real leverage at the negotiating table, because a clean cash offer with no financing contingency is often worth a price concession to a seller who wants certainty. But you do not have to pay cash. Several US lenders offer foreign national mortgage programs, and they can be a smart way to keep capital working elsewhere.
Here is what those programs typically involve:
- A larger down payment than a US resident would put down, often in the range of 30% to 40% or more of the purchase price.
- Documentation of income and assets from your home country, sometimes translated, and often supported by reference letters from your home bank.
- Slightly higher rates than a domestic borrower might see, since the lender is taking on more perceived risk.
Rates overall stabilized in the low to mid 6% range in 2026, and foreign national programs price on top of that baseline. If financing is the plan, I connect clients with lenders who specialize in these loans early in the process, because the paperwork takes longer and a slow lender can cost you a deal. Getting pre approved before you fly in also tells sellers you are serious.
FIRPTA: the tax to understand before you sell
Here is the one most international buyers have not heard of, and it matters at the far end of the deal rather than the near end. FIRPTA, the Foreign Investment in Real Property Tax Act, generally requires that when a foreign person sells US real estate, a portion of the sale price is withheld and sent to the IRS at closing. Think of it as a prepayment against any US tax that might be owed on the gain.
The key points to understand at a high level:
- It applies when you sell, not when you buy, so it does not affect your purchase today.
- The withholding is a percentage of the gross sale price, and on a Miami property it can be a significant sum tied up at closing.
- It is a withholding, not necessarily your final tax bill. Depending on your actual gain and your filing, you may recover part of it later.
Because the exact rates, exemptions, and available exceptions change and depend heavily on your situation, this is a conversation for your cross border tax advisor before you buy. My clients who plan for FIRPTA at the outset are never surprised at resale. The ones who ignore it get an unpleasant education at the closing table.
Ownership structures, at a high level
Foreign buyers often ask whether to hold property in their own name, through a US LLC, through a foreign entity, or through some other structure. There are real reasons buyers consider an entity, including privacy, liability protection, and estate planning across borders. There are also costs, filing obligations, and complexity that come with each option.
There is no one size fits all answer here, and anyone who gives you one without knowing your situation is guessing. The right structure depends on your home country, your tax residency, your family situation, and your long term goals for the property. I always tell clients to decide this with a cross border tax attorney and an accountant before closing, because changing it after the fact can be expensive and time consuming. Set it up correctly the first time and you save yourself years of headaches.
Taxes and ongoing costs
Beyond the purchase price, budget honestly for the ongoing reality of Miami ownership. This is where I see out of town buyers underestimate the number.
- Property taxes, plus in condos the HOA fees that often run from $300 to $2,000 or more per month depending on the building and its amenities.
- Insurance, which has risen sharply across Florida and deserves a real quote before you close, not a guess after.
- Building reserves and assessments. After the 2021 Surfside collapse, Florida requires stronger condo reserves, generally aiming for at least 10% of the annual budget, and older buildings face 40 year recertification, or 25 years within 3 miles of the coast. A special assessment on an aging building can be substantial, so I always review reserve studies and recertification status before my clients commit.
- US tax filing obligations if you rent the property out. Most cross border owners handle this with an accountant, and it is very manageable when you plan for it.
None of this is a reason not to buy in Miami. It is a reason to buy with clear eyes and the right advisors lined up so the ongoing costs never catch you off guard.
Building your team before you buy
Buying in Miami as an international buyer works beautifully when you build the team first. In practice that means four people in place before you write an offer: an agent who knows the specific buildings and neighborhoods, a cross border tax advisor who understands your home country, a title company that closes with foreign buyers regularly, and a lender if you are financing. When those pieces are in place, the process is smooth, and much of it can be handled remotely with a well organized power of attorney if you cannot be here for closing.
The mistake I see is buyers who fall in love with a unit first and scramble to assemble the team second. Reverse that order. Line up your advisors, then shop with confidence, and the emotional part of the purchase never has to fight the logistical part. It also protects you at the negotiating table, because a buyer with financing arranged, a title company chosen, and tax questions already answered is a buyer a seller takes seriously. Preparation is real leverage, here just as much as anywhere in the world.
My advice
Miami rewards prepared international buyers. The city is not going anywhere, the demand is genuinely deep, and the lifestyle is real. Take the extra steps, respect the tax and structure questions, and you will own here with confidence rather than anxiety.
I have walked many international clients through their first Miami purchase, from the first virtual tour to the keys, and I would be glad to help you build that team. Reach me through the contact form at debilom.com, call me directly at (786) 278-7313, or send a message to @debilomrealtor and we will map out your path.
