Miami is one of the most internationally connected real estate markets in the world. Buyers from Colombia, Brazil, Venezuela, Argentina, Mexico, and Europe have been acquiring luxury condos, waterfront homes, and investment properties in South Florida for decades — and in 2026, demand from international buyers remains among the strongest of any US city.
But for buyers outside the United States, the process raises legitimate questions: Can I legally buy? Should I use an LLC or buy in my own name? What taxes will I owe? What about insurance? What happens when I sell?
I'm Agu Ukaogo — South Florida luxury realtor and licensed insurance professional. I work with international clients regularly and understand both the transactional and the protective sides of this process. This guide is the complete picture, from first inquiry to closing and beyond.
Can a Foreigner Buy Real Estate in Miami?
Yes — without restriction. The United States places no prohibition on foreign nationals owning real estate in Florida. Non-US citizens, non-residents, and even non-visa holders can purchase property legally and without special government approval. The process largely mirrors what a US buyer would experience, with a few additional documentation requirements.
Miami's luxury market is particularly well-suited to international buyers. Many luxury condo developments have large international ownership bases, building staff accustomed to remote owners, and concierge services designed to manage properties for part-time residents. The infrastructure for international ownership is already there.
Step-by-Step: The Buying Process for International Buyers
Choose Your Agent — Someone Who Understands International Transactions
This matters more than most buyers realize. An agent who works primarily with local buyers won't understand wire transfer requirements, ITIN applications, FIRPTA implications, or the documentation needs of foreign-owned LLCs. Choose a realtor with proven international buyer experience from day one.
Decide: Individual Purchase or LLC
This is a legal and tax decision that should be made before you make an offer. Buying in your personal name is simpler and allows easier mortgage access. Buying through a US LLC adds liability protection and estate tax advantages. Consult a US real estate attorney and international tax advisor before committing.
Obtain an ITIN (if not financing)
An Individual Taxpayer Identification Number (ITIN) is required for filing US tax returns, which international property owners must do when they sell. If you're paying cash, you'll need one before closing. If you're financing, your lender will require it regardless.
Secure Financing (or Confirm Cash Funds)
Foreign national mortgage programs exist, but they're more limited than domestic options. Typical requirements include a 30–40% down payment, foreign bank statements, and sometimes a letter from your foreign bank. Many international buyers choose to pay cash to avoid these hurdles — Miami's luxury market is comfortable with all-cash transactions and may even prefer them.
Make an Offer and Open Escrow
Once you identify a property, your agent will draft a contract. Earnest money deposits (typically 5–10% of purchase price in luxury transactions) must be wired to a US escrow account. Your agent and the title company will guide the documentation process.
Due Diligence: Inspections, Title, and HOA Review
The due diligence period in Florida typically runs 10–15 days. You'll conduct inspections, review the condo association documents (financials, rules, special assessments), and confirm a clean title. Your realtor and attorney manage this process — you don't need to be physically present.
Close and Wire Funds
Closing can be done remotely with a power of attorney. Final purchase funds are wired to the title company. The deed is recorded, and you own the property. The entire process from accepted offer to closing typically takes 30–45 days for a standard purchase.
LLC vs. Personal Name: Which Is Right for You?
This is the most common question I receive from international buyers — and the answer depends on your individual situation. Here's the honest comparison:
Buying in Your Personal Name
Simpler to set up, easier to finance, and lower annual maintenance costs. However, your US real estate is part of your personal estate and may be subject to US estate tax if you die as a non-resident alien. The US estate tax exemption for non-residents is only $60,000 — meaning a $1.5M condo could expose your heirs to a significant US estate tax bill.
Buying Through a US LLC
An LLC can shield the property from US estate tax (since you own the LLC membership interest, not the property directly, and foreign-owned LLC interests may not be US-situs assets). It also provides liability protection and can simplify management for rental properties. The trade-off: most US lenders won't finance an LLC purchase without a personal guarantee, and some won't finance foreign-owned LLCs at all. Cash buyers have more flexibility here.
The LLC vs. personal name decision has estate tax, income tax, and liability implications that vary based on your home country, the applicable US tax treaty (if any), your total asset picture, and your plans for the property. This is not a decision to make based on a blog post alone — work with a US attorney who specializes in cross-border real estate transactions before you sign anything.
FIRPTA: What Every International Buyer Must Know Before They Sell
FIRPTA — the Foreign Investment in Real Property Tax Act — is the most important US tax rule for international real estate investors, and it applies at the moment you eventually sell.
When a foreign person sells US real estate, the buyer is required to withhold 15% of the gross sale price and remit it to the IRS. Note: this is 15% of the sale price, not the profit. On a $2M sale, that's $300,000 withheld — regardless of what you paid for the property or what gain you actually realized.
The withheld amount is not your final tax bill. It's a deposit against your capital gains liability. You then file a US tax return and may receive a refund if the actual tax owed is less. But the timing mismatch — funds withheld at closing, refund potentially months later — can be a cash flow issue that international sellers need to plan for.
Key exemptions and reductions exist (for example, if the sale price is under $300,000 and the buyer intends to use it as a primary residence), but these have specific requirements. Your US CPA handles the FIRPTA paperwork — and you absolutely need one.
Florida Property Taxes and the Homestead Exemption
Florida property taxes are assessed by the county based on the property's assessed value. Miami-Dade County's effective property tax rate averages around 1% of assessed value, though this varies by municipality. On a $1.5M condo, expect property taxes in the range of $15,000–$20,000 per year.
Florida offers a valuable Homestead Exemption that reduces the assessed value of a primary residence by up to $50,000, and caps annual assessment increases at 3% (the "Save Our Homes" cap). This can significantly reduce property tax bills over time.
The Florida Homestead Exemption is available only to Florida permanent residents who use the property as their primary residence. Non-US citizens who do not have permanent resident status (green card or certain visa categories) do not qualify. This means international buyers pay full assessed value taxes with no cap on annual increases — a meaningful difference in cost over a 5–10 year ownership period.
Insurance Requirements for International Owners
Property insurance is required by most lenders and is essential for any owner regardless of financing. As an international buyer, your insurance needs include everything a domestic buyer requires — plus some additional considerations for remote owners.
Homeowners / Condo Insurance
Covers the interior of your unit (for condos) or the full structure (for single-family). Ensure the dwelling coverage reflects actual replacement cost, not just purchase price.
Flood Insurance
Required for properties in designated flood zones (much of Miami-Dade). Available through the NFIP or private carriers. Not included in standard homeowners policies.
Wind / Hurricane Coverage
Many Florida policies exclude wind damage or carry separate deductibles of 2–5% of insured value. Critical in South Florida's hurricane zone.
Liability & Umbrella
For rental properties or properties with pools, liability coverage is critical. An umbrella policy extends your liability protection beyond base policy limits.
As a licensed insurance professional, I can help international buyers understand their coverage options and connect them with carriers who write policies for non-resident owners — which is a more limited field than most people realize. Not every insurer will write a policy on a property owned by a non-US resident, so having guidance here matters.
Why Working With a Local Expert Who Understands the Full Picture Is Critical
Most real estate agents can show you properties and write contracts. Far fewer understand the tax implications, entity structure decisions, insurance requirements, and wealth protection considerations that make the difference between a smart international investment and an expensive mistake.
My background bridges both sides: licensed realtor and licensed insurance professional. When I work with an international buyer, we're not just closing a transaction — we're making sure the property is properly protected, the ownership structure is right, and the purchase fits into a broader wealth-building strategy. I also connect clients with the US attorneys, CPAs, and mortgage professionals who specialize in cross-border transactions — because no single advisor should claim to handle everything alone.
If you're coming from Colombia, Brazil, Venezuela, Argentina, or Europe, I've worked with buyers from your market. I understand the currency considerations, the motivations (wealth preservation, lifestyle, education for children), and the specific questions that arise from your home country's relationship with US tax law.
Ready to Buy in Miami? Let's Talk.
I work with international buyers throughout the process — property search, offer strategy, entity structure guidance, insurance, and closing. The first conversation is free. Reach out however is easiest for you.
Frequently Asked Questions
Can a foreigner buy real estate in Miami?
Yes. There are no restrictions on foreign nationals purchasing real estate in Florida. Non-US citizens and non-residents can buy property freely — as an individual, through a foreign LLC, or through a US-based LLC. The process is similar to that of a US buyer, with additional documentation requirements for financing and tax compliance considerations including FIRPTA withholding upon eventual sale.
Should an international buyer purchase Miami real estate through an LLC?
It depends on the buyer's situation. A US LLC can provide liability protection and estate tax advantages by potentially removing the property from the buyer's US taxable estate. However, LLCs have annual maintenance costs and may complicate mortgage financing. The decision should be made with a US real estate attorney and international tax advisor familiar with your home country's tax treaty relationship with the US.
What is FIRPTA and how does it affect international buyers selling Miami property?
FIRPTA — the Foreign Investment in Real Property Tax Act — requires that when a foreign person sells US real estate, the buyer must withhold 15% of the gross sale price and remit it to the IRS. This withholding is applied against the seller's actual capital gains liability; the seller files a US tax return and may receive a refund. Working with a US CPA experienced in international transactions is essential to manage FIRPTA correctly.
Agu Ukaogo
South Florida Luxury Realtor & Wealth Protection Strategist. Licensed in both real estate and life insurance. Experienced working with international buyers from Latin America and Europe in the South Florida luxury market. HomeWithAgu.com · (954) 702-4688