Florida continues to be one of the top destinations for international real estate investors. With its favorable tax climate, stable property appreciation, and high rental demand, it’s no surprise buyers from Canada, Latin America, and Europe are flocking to the Sunshine State. But buying property as a foreign national comes with a few specific considerations. Here’s everything you need to know before making your move.
1. Why Florida is Ideal for Foreign Buyers
- No state income tax
- Strong tourism and rental market
- Coastal and urban diversity: from Miami to Orlando to Naples
- Access to top schools, hospitals, and transportation hubs
2. Can Foreigners Buy Property in Florida?
Yes — there are no citizenship or residency requirements to purchase real estate in Florida. You can buy as an individual, through an LLC, or as part of a trust. However, it’s essential to work with a knowledgeable real estate attorney and agent.
3. Financing Options for Foreign Buyers
While some international buyers pay cash, many choose to finance. U.S. banks may require:
- 30–50% down payment
- Proof of income/assets
- U.S. bank account
- Valid visa or passport
Tip: Work with lenders that specialize in foreign nationals for better terms.
4. Taxes and Legal Considerations
- FIRPTA (Foreign Investment in Real Property Tax Act): Requires a 15% withholding on the sale of U.S. property by a foreign person, though there are exemptions.
- Property Tax: Similar rates as U.S. citizens.
- Estate Tax: Foreign owners may face higher estate taxes upon death. Consider owning through an LLC to minimize risk.
5. Managing Your Investment from Abroad
Property management companies can help handle:
- Tenant screening
- Rent collection
- Maintenance
- Local compliance
This is especially helpful for short-term rentals in Miami Beach, Sunny Isles, or Aventura.
6. Hot Markets for Foreign Buyers
- Miami: Luxury condos, high international demand
- Orlando: Vacation homes, rental ROI
- Tampa & Sarasota: Affordable beachfront options
- Boca Raton & West Palm Beach: Upscale suburban lifestyle
Conclusion
Buying property in Florida as a foreign investor is a smart move—but only if you’re well-informed. At Dream Estates Realty Group, we specialize in guiding international buyers through every step of the process. From financing to legal support and property management, we ensure a seamless, secure investment.
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