What International Buyers Need to Know About Purchasing in Florida
Florida continues to be one of the most attractive U.S. real estate markets for international buyers. The warm climate, beaches, lifestyle, strong international connections, and no Florida personal state income tax make the state appealing to buyers looking for a vacation home, second residence, or investment property.
For Canadians, Latin American buyers, Europeans, UK buyers, and other international purchasers, buying real estate in Florida as a foreign buyer is possible, but the process can be different from purchasing property in your home country.
Understanding financing, taxes, FIRPTA, closing costs, and the purchase process before you begin can make the experience much easier.
Yes. Non-U.S. citizens can generally purchase and own real estate in Florida. You do not have to be a U.S. citizen or permanent resident to purchase a home, condominium, vacation property, or investment property.
However, Florida has specific restrictions involving certain foreign persons and entities connected to designated "foreign countries of concern." These rules can apply depending on the buyer, the property, and its location.
If you have ties to one of these countries, speak with a Florida real estate attorney before purchasing to determine whether any restrictions apply to you.
For most international buyers from Canada, Europe, the UK, and Latin America, the primary considerations will be financing, taxes, and the practical aspects of completing a U.S. real estate transaction.
Many international buyers purchase Florida property with cash, but financing is available for qualified foreign nationals.
A Foreign National Mortgage in Florida is designed for buyers who are not U.S. citizens or permanent residents and may not have a traditional U.S. credit history.
Requirements vary by lender, but foreign buyers should generally expect:
An ITIN (Individual Taxpayer Identification Number) may be required by some lenders, but not all foreign-national mortgage programs require one.
The best approach is to speak with a lender experienced in international transactions and obtain pre-approval before making an offer.
Taxes are one of the most important areas for international buyers to understand.
FIRPTA, or the Foreign Investment in Real Property Tax Act, generally applies when a foreign person sells or disposes of a U.S. real property interest.
Under current IRS rules, the buyer is generally responsible for withholding 15% of the amount realized when purchasing U.S. real property from a foreign seller, subject to certain exceptions and special rules.
For someone buying a Florida property today, FIRPTA may become important later when they decide to sell.
The amount withheld is not necessarily the seller's final tax liability. In some situations, the seller may be able to apply for a withholding certificate or receive a refund after filing the appropriate U.S. tax return.
If you are a foreign owner planning to sell a U.S. property, consult a qualified CPA or tax attorney early in the process.
An ITIN is a tax identification number issued by the IRS to certain individuals who are not eligible for a Social Security number but have a U.S. federal tax purpose.
If you purchase a Florida property and rent it out, you may have U.S. tax filing obligations. Depending on your circumstances and tax elections, rental income may need to be reported to the IRS, potentially using Form 1040-NR.
Potentially deductible rental expenses can include property management, insurance, property taxes, mortgage interest, maintenance, and depreciation, subject to applicable tax rules.
Because international tax situations can be complicated, it is important to work with a CPA familiar with U.S. and international taxation.
⚠️ IMPORTANT TAX DISCLAIMER
The information in this article is for general educational purposes only and should not be considered legal, tax, or financial advice. FIRPTA, ITIN requirements, rental-income taxation, capital gains, and ownership rules can vary depending on your individual circumstances. Always consult a qualified U.S. CPA, tax attorney, or other appropriate professional before making tax or legal decisions.
Depending on the property and transaction, closing costs may include:
If you are financing the purchase, there may also be additional lender-related costs.
Ask for an estimated closing statement early in the process so you have a clearer picture of how much cash you will need beyond the down payment.
The process of purchasing Florida real estate is generally straightforward when you have the right team in place.
1. Build Your Professional Team
Consider working with:
Your team can help you navigate the market while addressing legal, financial, and tax considerations.
2. Determine Your Budget and Financing
Decide how much you plan to invest, whether you will pay cash or finance, and how much you should reserve for closing costs, insurance, property taxes, HOA fees, and ongoing maintenance.
If you need financing, getting pre-approved early can help you understand your purchasing power.
3. Plan Your Currency Transfer
International buyers should consider exchange rates, transfer fees, timing, and documentation when moving funds into the United States.
Always verify wire instructions directly with your closing professional before transferring money. Real estate wire fraud is a serious risk, and wiring instructions should never be confirmed solely by email.
4. Find the Right Property
Your goals should guide your search.
A vacation-home buyer may prioritize location, lifestyle, and accessibility, while an investor may focus more on rental demand, expenses, rental restrictions, and potential returns.
If you plan to rent the property, check the community's rental rules before purchasing. Some condominiums and communities have minimum lease periods or restrictions on short-term rentals.
5. Complete Due Diligence and Close
After your offer is accepted, your team will help coordinate inspections, title work, financing, insurance, and other due diligence.
International buyers may also be able to complete a remote closing, depending on the lender, title company or attorney, and the buyer's location. If you will be outside the United States at closing, let your closing professional know as early as possible.
Some international buyers consider purchasing property through a U.S. LLC or another entity.
An LLC may make sense in certain situations, particularly for investment properties, but it is not automatically the best option for every foreign buyer. The right ownership structure can affect taxes, liability, financing, estate planning, reporting requirements, and the eventual sale of the property.
Before creating an entity, speak with a qualified attorney and CPA who understand international real estate ownership.
Florida remains an attractive destination for international buyers who want a vacation home, second residence, or investment property.
The process can be straightforward, but it is important to understand the differences between purchasing in Florida and purchasing in your home country. Financing, FIRPTA, ITIN requirements, rental income taxes, closing costs, and ownership structures should all be considered before you move forward.
Whether you're considering a Miami Beach condo, a South Florida vacation home, or an investment property elsewhere in the state, M Group is here to help you navigate the process with local expertise and personalized guidance.
Thinking about buying property in Florida from outside the United States? Connect with M Group to discuss your goals, explore the right Florida market for you, and take the next step with confidence.
A practical guide to financing, FIRPTA, taxes, closing costs, and the buying process for international property buyers.
Explore Miami’s most exclusive neighborhoods, luxury homes, and waterfront communities attracting high-profile buyers from around the world.
Learn how Florida’s Homestead Exemption, Save Our Homes program, and property tax portability can help homeowners reduce costs and maximize their real estate investmen… Read more
From privacy and wellness spaces to smart technology and resort-style amenities, discover what today’s luxury buyers are seeking in Miami homes in 2026.
Why Discretion and Off-Market Strategy are the New Standard for High-Net-Worth Sellers
M Group combines skills, experience, and network in luxury real estate supported by an incredible team of agents from all backgrounds gives them an edge in selling and buying real estate locally and abroad.
Connect With Our Team To Learn More
605 Lincoln Rd., 7th Flr. Miami Beach, FL 33139