International Buyers Guide to Miami Real Estate

Miami has become one of the world’s most sought-after destinations for international real estate investment. With its tax-friendly environment, global connectivity, and thriving luxury condo market, South Florida attracts buyers from Latin America, Europe, the Middle East, and beyond. Whether you are purchasing a residence, a second home, or an investment property, this guide covers what international buyers need to know before purchasing real estate in Miami. At Manhattan Miami, we have helped residents from over 35 countries purchase property in the United States—and this guide draws on that experience.

Why International Buyers Choose Miami

Miami offers a rare combination of advantages that few global cities can match. Florida has no state income tax, which means international investors pay no state-level tax on rental income or capital gains. Compare that to New York, where state and city taxes can exceed 10% combined, and the financial advantage becomes clear.

Beyond taxes, Miami provides direct flights to most major cities in Latin America, the Caribbean, and Europe. The city has a deeply multicultural character—Spanish is spoken widely, and Miami is home to more international banks than any other U.S. city. Property rights are well-established, transaction data is publicly available, and the buying process is transparent from start to finish.

For investors interested in new construction, Miami’s pre-construction market offers the ability to purchase at today’s prices with flexible deposit structures—an opportunity that is not commonly available in many international markets.

Tax Advantages of Buying in Miami

Florida’s tax structure is one of the most favorable in the United States for real estate investors:

• No state income tax on rental income or any other income
• No state capital gains tax when you sell
• Homestead exemption available to primary residents, reducing annual property taxes
• No punitive foreign buyer taxes—unlike Canada, Australia, and the U.K., which impose additional stamp duties on overseas purchasers

International buyers should still plan for federal obligations, including FIRPTA withholding at the time of sale and potential estate tax exposure. Proper entity structuring (typically an LLC) can help manage these obligations. Our Foreign Buyer’s Guide covers FIRPTA, estate planning, and tax deferral strategies in detail.

Where International Buyers Are Investing in Miami

International buyers are active throughout Miami and South Florida. While every neighborhood has international ownership, certain areas have historically attracted higher concentrations of global buyers:

• Brickell and Downtown Miami — Miami’s financial district and the most urban neighborhood in South Florida. Popular with buyers from Latin America and professionals relocating from other U.S. cities. Walkable, with strong rental demand.
• Sunny Isles Beach — Oceanfront high-rises with full-service amenities. A long-established destination for buyers from South America and Eastern Europe.
• Bal Harbour and Surfside — Ultra-luxury and private. Appeals to buyers seeking exclusivity and proximity to Bal Harbour Shops.
• Key Biscayne — An island community with a village feel. Attracts international families drawn to top-rated schools and a quiet lifestyle.
• Edgewater and Midtown — A rapidly developing waterfront corridor with newer construction and strong rental yields.
• Coral Gables — Established and tree-lined, with international schools and consulates. A preferred choice for diplomatic and corporate relocations.

International interest is also expanding into Fort Lauderdale and Palm Beach, where buyers are finding more space and competitive pricing compared to Miami Beach.

How to Buy Miami Real Estate as an International Buyer

The process of purchasing real estate in Miami as a foreign national is straightforward. Here is a simplified overview:

1. Choose an experienced agent. Work with a firm that specializes in international transactions and understands the legal and tax considerations involved.
2. Determine your financing approach. Many international buyers pay cash, but mortgage financing is available to foreign nationals through several Miami-based lenders.
3. Establish the right entity structure. Most international buyers purchase through a U.S. LLC to simplify tax reporting and protect against estate tax exposure.
4. Make an offer and go under contract. The standard process in Florida includes a deposit, inspection period, and a closing timeline of 30 to 60 days for resale properties.
5. Close remotely or in person. Florida allows remote closings, which means you do not need to be physically present in the U.S. to complete your purchase.

For a complete step-by-step walkthrough, including FIRPTA, tax planning, and financing details, read our full Foreign Buyer’s Guide to U.S. Real Estate.

Florida SB 264: Restrictions for Certain Foreign Nationals

In 2023, Florida enacted Senate Bill 264, which restricts real property purchases by nationals from seven designated countries: China, Russia, Iran, North Korea, Cuba, Venezuela, and Syria. The law was upheld by the U.S. Court of Appeals for the Eleventh Circuit in November 2025 and remains fully in effect.

Here is what international buyers should know:

• Chinese nationals face the broadest restrictions—a statewide ban on purchasing real property unless they qualify for a specific exemption.
• Nationals from the other six countries are restricted from purchasing property within 10 miles of military installations or critical infrastructure, and from purchasing agricultural land.
• Exemptions exist. A qualifying foreign national may purchase one residential property of up to two acres, provided it is not within five miles of a military installation. U.S. green card holders and individuals who are domiciled in Florida are generally exempt.
• Rentals are not affected. SB 264 applies to purchases and ownership, not leases.

The vast majority of international buyers are not affected by SB 264. However, buyers from any of the seven designated countries should consult a Florida real estate attorney before beginning the purchase process. For a broader overview of the U.S. buying process, see our Foreign Buyer’s Guide to U.S. Real Estate.